PTA Production Continues To Decline, Polyester Production And Sales Remain Weak

　　PTA:

PTA narrow range shock, slightly upward price, international crude oil continued to shock, cost support is acceptable. In recent years, PTA plant has been intensively overhauled, with strong support from the supply side. In the first ten days of April, a total of 6.2 million tons of PTA plant was planned to be overhauled. It is estimated that the theoretical de stocking of PTA in April may reach a record high. PTA will continue to go to the warehouse, which is beneficial to the market mentality. Polyester production and sales fell again, Europe and the United States and cotton products export pressure is still large, follow-up orders are weak. The profits of domestic textile industry are concentrated in the spinning link. The lower acceptance of fabric price rise is not high, the price transmission is not smooth, and there is downward pressure on yarn price, which may further affect the price performance of raw materials. Overall, PTA supply side support is strong, but affected by the textile industry chain order shortage, price upward pressure, control position, multi single holding.

Polyester staple fiber:

Polyester staple fiber continues to be weak, the cost side support is acceptable, PTA is supported by maintenance, and the vibration is strong. Polyester short supply side changes little, far spinning recovery restart, Yizheng planned to overhaul, other units have no adjustment plan, supply is expected to be flat. Downstream just need to replenish the warehouse, polyester short production and sales rate slightly rebounded, but the spot price continued to fall, polyester short theoretical inventory from negative to positive, negative market sentiment. The export pressure of European and American Anti Japanese and Xinjiang cotton products is still large, and the order follow-up in the terminal market is weak. Moreover, the profits of the domestic textile industry are concentrated in the spinning link. The downstream's acceptance of fabric price rise is not high, the price transmission is not smooth, and there is downward pressure on the yarn price, which may drag down the price performance of polyester short. Overall, polyester staple fiber supply and demand support is not strong, temporarily maintain wait-and-see.