Supply and Demand - The supply of PX has increased, with Asian PX operating rates rising to 87% (+4.9%) and domestic PX rates at 75.1% (+3.1%) [2] - Demand for PTA has also improved, with operating rates around 84%, as several PTA plants are restarting operations [2] Market Outlook - Following the recovery of PX profitability, supply has increased due to delayed maintenance and higher operating rates, leading to a weakening supply-demand balance [3] - Despite the recent pressure on PX prices, strong short-term demand from PTA restarts and new capacity coming online may limit further price declines [3] - The short-term strategy suggests monitoring support around 6400, with potential for price fluctuations, and a focus on short-term spread trades [3] Spot Market - On June 10, Asian PX prices rebounded, with spot prices for July at 815 and August at 813, while paper prices for September were at 800/805 [1] - The cost of PX rose by 9 USD/ton to 817 USD/ton, equivalent to 6765 RMB/ton [1]
PX：供应增加明显以及下游聚酯加大减产力度 短期PX承压
Jin Tou Wang·2025-06-11 02:07