Views:0 Author:Site Editor Publish Time: 2020-06-29 Origin:Site
As for the fundamental, supply and demand status of PTA market has improved apparently when the restart of Hanbang’s 2200kt/year unit may be extended than anticipated. From the perspective of demand side, current operating rate of polyester market and downstream fabric mills is mainly above 90% and 70% respectively, which may sustain such level. Demand side is not expected to pose pressure on the whole polyester industrial chain, which is specifically analyzed in Polyester demand enjoys support in Jun. In addition, price of crude oil is consolidating near $38-40/bbl, and the PX-naphtha spread is below $300/mt, far lower than the average level, which means the downward space of PX market may be limited, further supporting PTA price.