The 1#250 million ton PTA unit at Dushan Energy ceased operations on November 5th and was restarted on December 29th. PriceSeek analyzes PTA, with a rating of -1.5. The resumption of the unit is expected to increase PTA supply, and it is anticipated that spot prices will bear downward pressure in the short term. Coupled with futures data, recent main contracts (such as the 2605 contract closing price at 5136 RMB/ton, with daily changes of -104 RMB) have shown a downward trend, suggesting an increased bearish outlook due to an increase in supply, which may further weaken futures prices. For polyester staple fiber, the score is -1. As PTA is a primary raw material for polyester staple fiber, its supply increase will reduce production costs, which is bearish for the spot price of polyester staple fiber. In the futures market, recent main contracts (such as the 2602 contract closing price at 6534 RMB/ton, with daily changes of -84 RMB) are already in a downward trend, indicating that a decrease in raw material costs might exacerbate futures downward pressure. For polyester FDY, the score is -1. PTA supply increase will reduce the production cost of polyester FDY, and companies may lower prices to maintain competitiveness, expecting spot prices to face downward pressure. Polyester POY, the score is -1. The return of PTA supply will compress the production cost of polyester POY, leading to a market supply expectation of loosening, and spot prices may see a slight decline. For polyester DTY, the score is -1. PTA unit restarts reduce raw material costs, potentially narrowing the profit margins for polyester DTY production, expecting spot prices to bear downward pressure.
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