According to the price monitoring of the business club, the domestic PTA market has shown an “n” trend since June. As of June 28, the average price of the domestic PTA market was 6930 yuan / ton, up 1.22% from the beginning of the month and 34.31% year-on-year.

The market returned to fundamentals, the expected impact of supply tightening, and the price of international crude oil futures rose significantly at the end of the month. As of June 27, the settlement price of the main contract of WTI crude oil futures in the United States was $109.57/barrel, an increase of $1.95 or 1.81%; The settlement price of the main contract of Brent crude oil futures was US $110.98/barrel, up US $1.88 or 1.72%.

In terms of supply, the operating rate of domestic PTA industry is around 80%, and the operation is on the high side, waiting for the next round of maintenance. A 1million ton PTA plant in Southwest China was overhauled on June 28. The two sets of 6.6 million ton PTA units in East China intend to reduce the load by 20%, and the specific plan remains to be determined. In addition, Honggang Petrochemical will invest in the construction of 2.4 million T / a PTA phase III project. Honggang Petrochemical currently has a PTA capacity of 3.9 million T / A. after the project is put into operation, it will have a total PTA capacity of 6.3 million T / A.

The textile market has slowly entered the off-season. The terminal orders are weak. The start-up of the weaving industry is below 60%. The polyester has not been able to keep up with the rise. The profits have remained low and the factory has suffered serious losses. Polyester production and sales are generally flat, it is difficult to remove inventory and increase operating load, and the enthusiasm for PTA spot purchase is not high.

Business analysts believe that crude oil began to stop falling and rebound, which led to PTA recovery and formed a positive support on the cost side. PTA supply side is also expected to reduce, but the terminal load start-up is still low, and the enthusiasm for PTA stock up is poor. Therefore, the PTA price rise is restricted. In the short term, the PTA market remains slightly upward.