In this all the way to visit, thank PTA manufacturers is the common aspiration of many polyester companies. In recent years, some manufacturers none PTA that polyester enterprise has obtained the “breathing” opportunity.
Reporters learned that, out of the need to eliminate backward production capacity, PTA leading enterprises to adopt a low price strategy, the price of PTA will be maintained in the vicinity of the cost line, in order to eliminate the scale does not have the effect of small plants. In this case, even if commodity prices rose this year as a whole, PTA prices remain relatively weak pattern.
“Although this benefit is passive, but can not be denied due to the upstream raw material prices are low, the polyester business profits this year with security, improved operating conditions.” Huang Liqiang said.
In the whole PX – PTA polyester industry chain, the source is crude oil, the upstream is PX, the middle reaches of the PTA, the downstream polyester, the terminal is chemical fiber textile. Due to their different supply and demand, the right to speak in the middle and lower reaches of the industry chain is also different.
It is understood that, due to increased pressure on environmental protection, PX a small number of new capacity, combined with a longer production cycle, the domestic PX production growth is significantly lower than the growth rate of PTA capacity. This led to a large number of domestic imports of PX, in recent years, the increasing dependence on imports of PX, PX industry in the entire industry, the strongest bargaining power in the industry chain profit is mainly concentrated in the PX industry.
Can also be seen from the last two years, in the PX – PTA – polyester industry chain supply and demand pattern, PX relatively strong, in the whole industry chain profit distribution accounted for the bulk; PTA supply is relatively loose, the overall cost pricing, price relatively passive; polyester market similar to PTA, in a relatively weak position in the whole industry chain pricing, often in low profit or even losses.
Often the whole industry chain prices, the upstream raw material PX rose the most, eroded some of the profits of the PTA industry, PTA prices rose again with the rise in prices of polyester products.” Wang Guangqian said, but because of less than PTA, polyester production profits have been compressed, and even the last loss of polyester production, shrinking demand situation, and then dragged down the PTA market demand and product prices. PTA production profits have been compressed again, the maintenance of their own compressed PX maintenance needs, PX strong supply and demand reversal, dragged down PX prices, thereby easing the downstream PTA and polyester cost pressures.
Unlike in the past, the second half of this year, especially after October, the terminal needs to release part of the pattern of supply and demand to improve the polyester, profits rose sharply, to further promote the PTA and PX market demand, the price and profit also showed a slight expansion of the situation. This situation and the usual cost to promote the rise of different, more persistent than in the past.
In this research, the reporter learned that, in the downstream polyester high profits after the link to see, part of the PTA plant may be active contraction of the downstream polyester plant contract goods supply control, the proportion of traders and downstream polyester plant with PTA supply arbitrage operation reduced to a certain degree of control of the entire market, none of the previous strategies or adjustments. Part of the PTA plant in 2017 PTA production profits should be improved.
At present, polyester downstream weaving enterprises gradually changed from centralized stocking to rigid procurement. With the Spring Festival approaching, the downstream textile enterprises will start to load or fall to the freezing point, driven by further decline in demand.
But from the survey situation, each enterprise load adjustment is different, some enterprises at the end of their own parking maintenance program, as well as some enterprises as long as there will be a high load of workers.
During the Spring Festival this year, there will be room for polyester operating rate of decline, but given the current situation of production and operation is better, the situation of large-scale parking overhaul or difficult to reproduce in the past.” Wang Guangqian believes that from the demand perspective to judge at the end of the year, polyester price or fall or market consolidation.
