The latest price of PTA (4-12): 6230 RMB / ton, the market outlook is bearish
Key points of analysis: Under OPEC+'s unexpected production cuts, the center of gravity of crude oil prices has shifted upwards. At the same time, there are still many PX device maintenance in April, the supply side continues to be limited, and the cost side is still favorable. The operating rate of downstream polyester remains high, but the strong price of raw materials has led to a heavy loss in the profits of polyester products. At the same time, terminal orders have not improved significantly, the willingness to stock up raw materials is insufficient, and the demand side has shown a weakening pattern, which has dragged down the price of PTA.
Outlook forecast: In the game of strong cost and weak demand, it is expected that the short-term PTA market will fluctuate and go down.
