9, PTA Has Maintained A Strong Trend In Spot And Futures Since October.

Last Sunday, the dynamics of the PTA device on a trade advisory website attracted a lot of attention. "Yam Shing 2#375 10000 ton device was scheduled to restart this weekend. Due to the failure of key equipment, it will not be able to start the car on schedule, and the driving time will be postponed until mid November."

With the announcement of the news, PTA futures and spot prices rose sharply on Monday, and the PTA processing profit calculated at PX price reached 200 yuan / ton.

There are indications that the PTA plant has become increasingly proficient in its own strong capacity advantages. PTA will have a "profit" before it can restart production capacity or new capacity.

Temporarily remove PTA from the "empty variety".

How can a profitable industry be profitable? This is probably a problem that has been plaguing PTA analysts in recent months.

But the fact is that the PTA factory has done it, especially in the past 9 and October, and the PTA factory's profit has changed greatly.

This is actually related to production capacity, but it is a reduction in capacity.

At the end of March this year, the fourth largest PTA production company in the country was shut down by Far East Petrochemical Company, and filed for bankruptcy in July, involving 3 million 200 thousand tons of PTA capacity. In early April, it was affected by Gure.

The impact of device explosion, the third largest PTA manufacturer in China, 4 million 500 thousand ton PTA plant of Xiang Lu petrochemical company has been parking since its stop of 1 million 650 thousand ton PTA device.

Judging from the current news, the possibility of reopening the PTA device of Xiang Lu Petrochemical Company in the near future is very small.

The PTA production capacity of Xiang Lu petrochemical and Far East Petrochemical Company is 9 million 350 thousand tons, accounting for 20% of the total PTA capacity of the whole country (46 million 640 thousand tons of the total capacity of the country).

The largest PTA plant in Yisheng, China, has 13 million 550 thousand tons of petrochemical capacity and second largest.

Hengli petrochemical production capacity of 6 million 600 thousand tons, Yisheng petrochemical and Hengli petrochemical production capacity accounted for 43% of the total capacity of the country, accounting for 58% of the total capacity of the total capacity excluding the Xiang Lu petrochemical, Far East petrochemical and long-term parking devices.

It is also in this context that PTA futures have become the best performing chemicals in one fell swoop.

Of course, in addition to the "limited production and insured price", PTA factory still promotes the PTA spot settlement price through the spot market high price purchase, this also to a certain extent supports PTA spot and the futures price.

Whether the industrial structure can continue in the future? The market rumors that Sinopec wants to buy the PX project of Xiang Lu in Gure. It is difficult to restart the PTA device of the Xiang Lu petrochemical company before the PX problem is solved.

The new PTA capacity of Hon Bang petrochemical and Shengda Petrochemical is also expected to be put into operation in the two quarter of 2016. The PTA industry will remain in the current state until now.