Core Viewpoint - The domestic futures market for energy and chemicals is experiencing a downward trend, particularly in PTA futures, which have seen a slight decline of 1.07% to 4830.00 yuan/ton as of the report date [1] Supply Analysis - Supply dynamics indicate that several companies, including Jiatuo and Jiahua Petrochemical, are undergoing maintenance, which has affected production levels. Additionally, Hainan Yisheng and Dushan Energy are also in maintenance, while Helong Petrochemical has planned an unscheduled shutdown. The second production line of Helun Petrochemical has been launched [1] Demand Analysis - Demand for PTA is showing signs of improvement, with polyester operating rates slightly increasing and production levels remaining high. The terminal weaving operating rates have also seen a minor recovery, leading to a moderate replenishment of stocks by downstream factories. Overall, terminal order conditions are gradually improving [1] Market Outlook - The market outlook suggests that despite significant fluctuations in oil prices, the cost support for PTA remains average. However, with a reduction in PTA supply and a rebound in downstream polyester factory loads, the supply-demand situation for PTA is expected to improve. Short-term PTA prices are anticipated to follow cost fluctuations [1]
PTA供需改善 短期内盘面价格跟随成本波动为主
Jin Tou Wang·2025-08-27 07:04