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Sinopec Economics: Equipment centralized maintenance, PTA market prices rising
Recently, PTA market prices have risen, mainly due to the centralized maintenance of PTA facilities, leading to accelerated destocking of PTA. On Wednesday, a 3.2 million-ton PTA plant in East China was shut down for maintenance. As of April 22, an additional 12.7 million tons of PTA capacity have been taken offline in April, accounting for 14% of total capacity. Plans announced for maintenance from May to June include 18.1 million tons of PTA facilities, with an additional 5 million tons possibly undergoing maintenance but without a clear schedule, and 1.2 million tons of PTA facilities planned for restart. Overall, there is significant maintenance activity among PTA plants, and geopolitical conflicts add uncertainty. It is expected that PTA prices will rise in the short term. (Zhuochuang Information)