On March 24th, the average domestic PTA market price was 6,167 RMB/ton, up 1.71% from the previous day and up 10.18% from the beginning of the month.
Analysis review
Recently, crude oil correctively rebounded, PX spring maintenance continued, and the supply side had decreased. The cost side formed significant support for PTA prices. At the same time, PTA's spot flow was tight, and the expectation of plant and device production reduction and shutdown increased. The operating load decreased below 75%, but the downstream polyester load maintained a high level of more than 83%, and PTA continued to destock.
Market outlook
Analysts from SunSirs believe that in the short term, driven by both cost and supply and demand, PTA will maintain a stronger trend.
