According to the price monitoring of business agency, the domestic PTA market fell first and then slightly recovered in July. As of July 27, the average market price was 6062 yuan / ton, down 8.27% from the beginning of the month and up 12.59% year-on-year.

Statistics of domestic PTA device changes in July

Production enterprise, unit capacity (10000 tons / year), unit change

Yisheng Ningbo., 200., parking

Yangzi Petrochemical. 65. Overhaul on March 14

Yadong petrochemical., 70%, load 90%

Honggang petrochemical., 220, overhaul on March 16

Hengli Dalian, 250, overhaul on July 2

Fuhaichuang, 450, parking at night on July 11

Baihong, 250, load 80%, maintain for a week

In terms of supply, Hengli Dalian 2.5 million ton plant was overhauled on July 2, fuhaichuang 4.5 million ton plant was shut down in the evening of July 11, Ningbo Yisheng 2million ton plant is currently in the shutdown state, Yadong Petrochemical 700000 ton plant load is 90%, and the restart time is to be determined. Baihong’s 2.5 million ton unit reduced its load to 80% and is expected to recover in one week. PTA operating rate remained low near 73%.

In July, the crude oil market was mainly affected by the strength of the US dollar, and the expectation of the Federal Reserve to raise interest rates increased the risk of economic recession; Superimposed on the repeated outbreaks in Asia, the possible blockade measures suppress demand, and the oil grid shocks weaken. As of July 26, the settlement price of the main contract of WTI crude oil futures in the United States was $94.98 / barrel, and the settlement price of the main contract of Brent crude oil futures was $99.46 / barrel.

In July, the downstream polyester market fluctuated and fell, with a reversal at the end of the month. With the red of raw materials, the market ushered in a bottom rebound. Polyester mainstream factories in Jiangsu and Zhejiang increased by 50-200 yuan / ton. However, the inventory is still at a historically high level. According to statistics, the average total inventory of polyester filament is 35.5 days, an increase of 15.4 days compared with the same period last year. At present, the startup rate of most weaving factories is low, and the comprehensive startup rate of looms in Jiangsu and Zhejiang regions remains around 50%.

Business analysts believe that the wait-and-see sentiment in the oil market is intensifying near the Fed’s interest rate hike. The downstream polyester plant will be affected by limited electricity and sporadic epidemic, and the production reduction will be gradually implemented, and the demand side will also be further weakened. However, the spot of PTA supply side is still tight, and some PTA devices still have maintenance plans. It is expected that the demand in August is still dominated by costs without significant improvement, and PTA is expected to continue to be under pressure.