PTA supply has increased significantly and the inventory continued to rise

Output
In 2019, the PTA plant operating rate remained at a high level. The monthly operating rate was above 90%. The average annual operating rate (based on the monthly average) was 95%. It is estimated that the cumulative annual output will be around 44.7 million tons, an increase of about 9%. Especially after Sept, due to the high PTA-PX processing spread, PTA suppliers kept operating rate high and some units were running over 100%. The maintenance plans of some units were postponed.