SunSirs: Supply Shrinkage and Cost Support, PTA Rose more than 3% in a Single Day

　　On December 9th, the domestic PTA market continued to rebound. The average market price in East China was 4731 yuan/ton, up 3.05% from the previous day and 35.12% year-on-year. The main PTA futures 2201 closed 4706, up 104, or 2.26%.

　　The current improvement in the PTA market is mainly due to the recovery of the crude oil market and the supply side benefits brought about by the centralized maintenance of equipment. However, the current terminal orders are still relatively thin, and downstream polyester inventories have accumulated, and the purchase of raw materials is mainly to meet rigid demand.

　　In the future, there are still PTA devices planned to enter the maintenance, and the cost-side favorable support still exists. In the later stage, we still need to pay attention to the impact of the epidemic on the start of Jiangsu and Zhejiang polyester and the implementation of its own equipment maintenance. In the short term, PTA prices will continue to rebound slightly.