Yisheng Petrochemical Price PTA No Fruit Prices Relatively Stable

The CRB index representing the international commodity price trend dropped to a minimum of 172 points, a new low since 2000, and a 25% decline this year.

Enterprises related to the industrial chain are undoubtedly experiencing a "disaster". For this reason, companies also actively carry out self rescue, but in the face of systemic risks, it is difficult for a single company or even an industry to recover the decline.

Recently, the chemical industry also said that since October of this year, Zhejiang Yisheng Petrochemical Company, the largest PTA producer in China, has made many purchases to make the PTA market stable.

PTA, also known as terephthalic acid, is widely used in many fields such as chemical fiber and light industry. Crude oil is the source of PTA industry chain, and its price fluctuation will also be transmitted to PTA price by layer. At the same time, its price fluctuation is also affected by the PTA futures price of Zheng Shang.

At the close of 16, the main contract of PTA of Zhengzhou commercial center TA1605 closed at 4360 yuan / ton, a 2.59% decline in that month.

Yisheng Petrochemical's price is not accidental.

With the collapse of the Far East Petrochemical Company, the domestic PTA industry can run down, and some enterprises stop production and maintenance. By the end of November, only 33 million tons of domestic capacity were available, and Yisheng Petrochemical Co. Ningbo A set of 600 thousand ton / year device shutdown inspection and maintenance, the remaining 12 million 800 thousand tons of capacity has occupied nearly 4 of the total capacity of the industry. The increase of market share also provides a possibility for late purchase and spot price.

"Since the end of October, Yisheng Petrochemical began to purchase the stock from the market quantitatively every day. At the beginning, it bought 5000 tons per day, and then increased to 7000 tons, 8000 tons, and finally reduced to 1000 tons later." according to a person familiar with the matter, the contract settlement price of Yisheng Petrochemical's purchase generally adopts the third party mechanism to assess the market price.

Many bits PTA The industry verified the news to reporters. A PTA industry in Shanghai said, "Yisheng petrochemical market buys a spot price is not a secret, and insiders in the industry know it."

A Futures Company in Zhengzhou pointed out that PTA futures is currently the most active variety in Zhengshang, and it is not easy to lift prices through futures market. In contrast, daily quantitative acquisition from spot will help stabilize spot prices, while stabilizing the spot price is also conducive to pushing up the futures price at the end of the month.

In Yisheng Petrochemical's initiative Standing price As well as the dual function of some production enterprises taking the initiative to reduce production capacity, domestic PTA rebounded slightly in November, even the spot price once exceeded the futures price. However, as the price of crude oil futures fell below the US $40 mark and opened a new round of decline, Yisheng Petrochemical also offered to give up its pricing strategy.