PTA Raw Materials Narrow Range Continued To Rise Prices Rebound

Last week, the PTA market stopped falling, and the PTA operating rate increased. The PX just needed to increase. The PX market rose and boosted the PTA market. At the beginning of the week, it fell to about 9520 yuan / ton, but it rebounded to 6570-6580 yuan / ton on the weekend.

Current domestic PTA

The operating rate is about 63%, the restart of the Xiang Lu 1 million 650 thousand tons / year device, the Yisheng Hainan 2 million 100 thousand tons / year installation plan will start in September 30th or so, and after the national day, the domestic PTA overall operation rate may reach about 72%, while the Ningbo MITSUBISHI 600 thousand tons / year installation plan will be restarted in October 10th, and the three housing Lane (market, interrogation) 1 million 200 thousand tons / year new device plan will be put into operation at the end of 10 month. The domestic PTA operation rate will continue to rise, and the PX will just increase, and PX may continue to rise in the short term, which is favorable to the market mentality.

But at the same time

The PTA spot supply increased after the factory operating rate increased. Although the production and marketing of polyester factories are stable, but the spot purchase of PTA is negative, there is a risk of oversupply in the late PTA spot.

PTA factory operating rate improvement is a double-edged sword.

at present

Speculation and inflation will not be reduced, cost support, it is expected that the short-term PTA market rebounded slightly, but the pattern of PX supply exceeds demand in Asia has not changed. After the PTA factory operating rate rises, there will be pressure of oversupply in the spot market, and the mid PTA market is hard to say optimistic.

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In the past year, the cotton market time and processing time in Hubei province were earlier than those in other regions. However, this year, the cotton farmers, cotton enterprises and textile enterprises are all watching cautiously.

When the new flower was first listed, the retail price of individual cotton enterprises was 3.40-3.50 yuan / Jin.

Due to the continuous rain and rain last week, the quality of local cotton decreased, rain stained cotton increased, and the market fell. The purchase price of seed cotton fell to 3.10-3.20 yuan / Jin, and one or two cotton type 400 cotton enterprises bought a small amount, and the 200 cotton enterprises entered the market more than 400 cotton enterprises.

Individual cotton enterprises in early lint price quoted at 15000 yuan / ton, no deal; cottonseed output quotas at 1.07 yuan / Jin, local oil factory did not buy, and more by Henan oil factory procurement.

At present, the picking amount of local cotton is about 20%. If the weather is fine in the late stage, the picking amount of seed cotton is expected to reach 40% before the national day.

In September 19th, the conference on pledge of cotton warehousing was held at Tianmen, but because of the poor lint market, it had little impact on the market.

Cotton enterprises reflect that the price of seed cotton is low, and cotton farmers do not sell them.

In September 22nd, the state issued the mainland subsidy information. In addition to Xinjiang, the state will subsidize the cotton producing areas in the Yangtze River Valley and the the Yellow River River Basin. This is undoubtedly the 1 stimulus to the cotton market in the mainland, but how much is it? How to make up for it is not yet clear.

Because of the gradual decline of lint and cottonseed prices, most cotton enterprises are risk averse and can only make plans after the market is stable. It is expected that the local cotton market will be clear after the national day.