SunSirs: Good Cost Support, PTA Market Continues to Rise

　　On January 5, the domestic PTA market continued to fluctuate upward. The average market price in East China was 5103 yuan/ton, an increase of 1.64% from the previous day and a year-on-year increase of 36.74%. PTA futures main force 2205 closed 5138 settlement 5150, up 106.

　　Crude oil continued to fluctuate upwards, forming a favorable support for the cost end of PTA. In addition, at the beginning of the month, the number of PTA maintenance devices increased, and the industry start was lowered to around 76%. There are not many stocks available in the market at any time. Under the boost of raw materials, the downstream polyester market has risen slightly, but the domestic and foreign trade orders for terminal weaving are still poor, and most warp knitting factories plan to shut down and take vacations one after another.

　　In the short term, the rise in crude oil will push the center of gravity to move up, but the market outlook is still expected to increase the supply of PTA itself, and downstream demand has not been effectively improved for the time being, which may restrict the continued rebound of PTA prices.