Views:2 Author:Site Editor Publish Time: 2020-01-14 Origin:Site
In 2019, PTA capacity growth speeded up. With Sichuan Nengtou's 1 million tons/year and Xinfengming's 2.2 million tons/year PTA units into operation, the total PTA production capacity reached 48.98 million tons/year, a growth rate of 7%. In 2019, the PTA market performed well, but under the pressure of more supply, the inflection point of PTA prices and processing margin has arrived. Now, let's have a brief review of PTA market in 2019.
In 2019, PTA prices dropped from 6,000yuan/mt at the beginning of the year to around 4,900yuan/mt at the end of the year, a decrease of 18.3%. In the first half of the year, with the economic recovery and plant maintenances, PTA prices rose from around 6,000yuan/mt in early Jan to 6,800yuan/mt in Apr; the market in May-June showed a V-shaped trend. PTA market fell briefly in May as of the restart of the some units and weakened demand. In June, PTA prices surged to 6,800yuan/mt with the release of good news from Sino-US trade talks and procurement of downstream plants. However, PTA prices fell slowly to 5,000yuan/mt from July due to poor terminal demand and supply expansion expectations.