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Since March, the spot market of purified terephthalic acid (PTA) futures has shown a trend of "climbing" and then "diving" with the international crude oil market
The surge in crude oil has pushed up production costs, but downstream terminals have shown weakness in receiving goods, resulting in PTA being caught in the middle and struggling
"Since the end of February, the conflict between Russia and Ukraine has intensified, and Europe and the United States have imposed energy sanctions on Russia, which has led to a sharp rise in crude oil, and the cost side has pushed the market price of PTA to continue to move up, hitting new highs one after another this year
The spot market of PTA futures has stepped out of the trend of "climbing" and then "diving"
In the face of the sudden surge in crude oil, the intermediate links such as PTA and polyester have been raised to pass on the cost pressure, and the pressure on the terminal textile market has increased sharply
"The cost pressure cannot be smoothly transmitted to the consumer side, and the lack of market prices leads to increased losses of PTA in the intermediate links
In the face of increasing losses, PTA production plants have chosen to shut down for maintenance, reduce inventory and support the market to avoid risks
Looking at the market outlook, Tianfeng Futures analyst Liu Siqi and other industry insiders generally believe that the recent situation of "low peak season" in downstream demand may reappear.
