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NOACY Futures: Cost Support Expected to Drive PTA Prices Higher
2025.03.31
RuiDa Futures: Cost Support Expected to Drive PTA Prices Higher
March 27, 2025, 08:47
PX:
- Price Movement:
- Price Spread:
- Supply:
- PX production for the week was 75.03 ten thousand tons, down 2.13% week-on-week.
- Domestic PX capacity utilization rate: 89.46%, down 1.95% week-on-week.
- Zhejiang Petrochemical's 2.5 million ton PX unit is under planned maintenance.
- Demand:
- PTA operating rate: 80.48%.
- PTA production for the week: 133.89 ten thousand tons, up 0.25 ten thousand tons from last week, down 2.37 ten thousand tons year-on-year.
- Domestic PTA average capacity utilization rate: 76.86%, down 0.12% week-on-week, down 4.12% year-on-year.
- Outlook:
PTA:
- Price Movement:
- Processing Margin:
- Supply:
- PTA operating rate: 80.48%.
- PTA production for the week: 133.89 ten thousand tons, up 0.25 ten thousand tons from last week, down 2.37 ten thousand tons year-on-year.
- Domestic PTA average capacity utilization rate: 76.86%, down 0.12% week-on-week, down 4.12% year-on-year.
- Demand:
- Polyester operating rate: 91.13%.
- Polyester industry weekly output: 151.74 ten thousand tons, up 3.41 ten thousand tons week-on-week, up 2.3%.
- China's polyester industry average capacity utilization rate: 89.82%, up 1.98% week-on-week.
- Inventory:
- PTA factory inventory: 4.84 days, down 0.18 days week-on-week, down 0.53 days year-on-year.
- Polyester factory PTA raw material inventory: 9.05 days, down 1.15 days week-on-week, up 1.78 days year-on-year.
- Outlook:
MEG (Monoethylene Glycol):
- Price Movement:
- Supply:
- MEG unit weekly output: 40.1 ten thousand tons, up 0.2% week-on-week.
- Domestic MEG total capacity utilization rate: 66.7%, up 0.14% week-on-week.
- Demand:
- Polyester operating rate: 91.13%.
- Polyester industry weekly output: 152.48 ten thousand tons, up 0.74 ten thousand tons week-on-week, up 0.49%.
- China's polyester industry average capacity utilization rate: 90.26%, up 0.44% week-on-week.
- Inventory:
- As of March 24, the total MEG port inventory in East China was 62.76 ten thousand tons, down 5.47 ten thousand tons from the previous statistical period.
- As of March 26, 2025, the estimated total MEG arrival in East China was 13.11 ten thousand tons, down 1.18 ten thousand tons from the previous week's plan.
- Outlook:
Short Fiber:
- Price Movement:
- Sales Volume:
- Supply:
- Weekly output of polyester short fiber: 15.81 ten thousand tons, up 0.15 ten thousand tons week-on-week, an increase of 0.96%.
- Average capacity utilization rate: 82.45%, up 0.96% week-on-week.
- Recent restarts of Jiangnan High Fiber and Xiamen Xianglu.
- Demand:
- Average sales rate of polyester short fiber factories: 88.63%, up 1.97% from the previous period.
- Average operating rate of pure polyester yarn industry: 82.12%, unchanged week-on-week.
- Inventory:
- As of March 20, the inventory of polyester short fiber factories in China was 11.01 days, down 0.47 days from the previous period.
- Average raw material stock of pure polyester yarn: 10.2 days, up 0.4 days week-on-week.
- Outlook:
(Sourced from NOACY Futures)
