The influencing factor of pta futures price is supply.
Due to the rapid development of polyester industry in China, domestic PTA production is far from meeting the demand. The difference is made up by imports. In 2005, the domestic output was 5.89 million tons, and the consumption was 1.2 1.44 million tons, of which the import volume was 6.49 million tons. The dependence on imports is 56%.
In order to meet the domestic market demand for PTA consumption, many new projects have expanded PTA production capacity in recent two years. With the construction and commissioning of these projects, the domestic PTA production capacity will be greatly improved, but there is still a certain gap in the growth of relative consumer demand.
Influencing factors of pta futures price II. Cotton price
The downstream product of PTA is synthetic fiber polyester, which is the raw material of textiles like cotton. They are substitutes. The price relationship between them will affect the application of their price relationship in textile materials and the demand for PTA.
Influencing factors of pta futures price. Equipment maintenance at home and abroad
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PTA production equipment needs overhaul once a year. The first quarter is the traditional off-season of the textile industry. PTA production enterprises choose the off-season or the month with bad market conditions to carry out equipment inspection, so as to reduce market risks and affect market supply.
Influencing factors of pta futures price. RMB exchange rate change
China is the largest textile producer and exporter in the world. The appreciation of RMB reduces the export competitiveness of textiles, but the textile market situation directly affects the development of chemical fiber industry and upstream PTA industry. On the other hand, the rise of RMB means that the price of imported PX denominated in US dollars is more attractive, which may increase the corresponding quotation.
5. Factors influencing pta futures price by world economy.
Global GDP is closely related to global fiber consumption. Strong economic growth has promoted the demand for end products and clothing, which has provided greater development momentum for the textile industry.