There is Not Much Spot in Circulation, and The Price of PTA is Slightly Stronger

The domestic PTA market rose significantly. As of May 12, the average domestic PTA market price in East China was 6,636 yuan / ton, an increase of 2.85% over the previous trading day and a year-on-year increase of 36.81%. The main force of PTA futures 2209 closed at 6580, up 320, or 5.11%.

Crude oil continued to oscillate at a high level, and PX was affected by the reduction in supply, which strengthened the support for PTA costs. In terms of its own supply, PTA has been in a state of balance between supply and demand since the large-scale destocking in March. At present, the company's maintenance has been reduced more, and the start-up operation is less than 75%. The downstream polyester factories were driven by the increase in raw materials, and the price rose by 100-200 yuan/ton. However, at present, the overall terminal orders are not high, only showing sporadic orders, and the demand recovery is limited.