PTA: Centralized Maintenance Ends, Supply Turns Loose.

In October, the downstream polyester and weaving industry is still in the traditional peak season.

However, according to the current market situation, the downstream demand is far less than expected.

Although the stock pressure of polyester factories is not high, the profit level is poor, and the losses of filament and bottle products are all serious.

at present

The load remains at a relative low level of around 76%, while the peak season is going to be over.

Terminal weaving is also facing high inventory and poor efficiency.

An inadequate predicament.

According to customs statistics, China's textile and apparel exports in September amounted to 26 billion 911 million US dollars, down 6.65%, down 5.75% from the same period last year.

Although the US crude oil production is expected to decline and other favorable factors once boosted the market, the pressure on US crude oil inventory growth is still difficult to resolve.

According to data released by the American Petroleum Institute, crude oil inventories in the United States continued to increase by 4 million 100 thousand barrels to 477 million 100 thousand barrels a week during the week of October 23rd.

OPEC crude oil output continued to grow.

Data show that in September, OPEC crude oil output increased by 110 thousand barrels to 31 million 571 thousand barrels per day, the highest since 2012.

The average daily output of OPEC has increased by nearly 1 million 500 thousand barrels since the implementation of the high-yield strategy in November last year.

It is understood that the increase in OPEC9 months came mainly from Iraq and other smaller production members. Iraq's average daily output of crude oil in September this year was 3 million 912 thousand barrels, representing an increase of 3 million 336 thousand barrels a year earlier.

Saudi Arabia's crude oil output has been relatively stable since hitting a record high of 10 million 560 thousand barrels a day in June.

Saudi Oil Minister Ali said Tuesday that the price of crude oil should be determined by the market, which means that Saudi Arabia is likely to maintain its market share strategy at a time when global supply is abundant and oil prices are falling.

In addition, Iran's growth in supply is expected to remain unchanged.

Overall, the oversupply of the international crude oil market is hard to improve in the short term.

International oil prices remain weak, which will also drag aromatics products.

9, October

Factory maintenance is more concentrated, which makes the PTA operating rate once maintained at a low level of less than 60%. The PTA market presents a tight supply situation, providing a basis for the strong PTA period and spot prices.

At the same time, the profit level of PTA factory has also been greatly improved.

However, with the passage of time, the centralized maintenance period is coming to an end, and the supply and demand of PTA will once again turn loose.

It is understood that Yi Grand 3 million 750 thousand tons of second-line device plans to resume early this weekend, the annual overhaul work until January 2016.

According to the current factory resumption plan, the overall load level of PTA industry in November will probably remain at around 70%.

At the end of the year, PTA factories will have to maintain high start-up status to ensure the normal operation of capital flows, so as to win more support from bank credit funds.

Under the expectation of inventory reaccumulation, PTA and spot prices will not escape the fate of falling.