PTA Prices Hike Amid Favorable Crude Oil Factors

Polyester raw material prices have been trending upward since September began, driven by favorable cost factors tied to international crude oil prices.

As of September 11, the average market price in East China for PTA stood at 6,971 RMB/ton, marking a 9.10% increase since the month's start.

The recent surge in crude oil prices, fueled by geopolitical tensions, has provided solid support for both PTA spot and futures prices, with the settlement price for the October contract of US WTI crude oil futures standing at $102.48 per barrel and Brent crude oil futures at $107.63 per barrel.

The market's supply side is shifting from destocking to a balance or even accumulation of inventory as PTA units undergoing maintenance in September gradually restart operations, but demand remains sluggish due to high raw material costs and weak downstream orders.