Cost Support Tight Supply, PTA Price Strong Pull Up

On June 25, domestic commodity futures rose in a large area, energy and chemical products ranked first, PTA, asphalt and soda ash ranked first. Among them, PTA transaction volume was abnormally enlarged, ranking second for the first time. Only this rebar exceeded 88.7 billion yuan, and broke through the 5200 yuan round mark in one fell swoop, and slightly fell back in the end. By the end of the day, PTA's main force rose 3.31% to 5180 yuan.

In the spot market, according to the price monitoring of business agencies, as of June 25, the average price of domestic PTA market was 5159 yuan / ton, up 4.12% compared with the previous trading day, and 40.44% higher than that of the previous trading day.

In recent years, the overall oil price continued to fluctuate at a high level, with Brent's center of gravity hovering around $74 / barrel, which promoted the prices of downstream energy and chemical products. However, the overall trend is still firm and PTA price center is boosted.

In terms of supply and demand, with the restart of PTA maintenance units and the new units have been put into operation, but after the supplier announced the reduction of contract supply, the spot liquidity was still tight, and the centralized replenishment demand of traders and polyester factories increased, and the spot basis was strengthened. The export pressure of terminal demand is still not relieved, and the domestic sales are weak as a whole; But the short-term polyester industry load is high, forming a rigid need for PTA support.

Xia Ting, an analyst at the business agency, believes that PTA suppliers will continue to reduce their contracts in July, and the cost side is relatively strong. In the short term, PTA prices continue to fluctuate stronger.