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Asia PTA may extend gains on likely spike in feedstock costs
来源:中国绸都网
| 作者:本网报道
| 时间:2011-08-16 13:56:14
| 订阅《东方纺织》周刊
SINGAPORE (ICIS)--Asian spot prices of purified terephthalic acid (PTA) may continue to increase in the coming weeks, given a strong likelihood that costs of feedstock paraxylene (PX) will spike on tight supply once Fujia Dahua shuts its aromatics plant in Dalian, China, market sources said on Monday.
Offers for Taiwan PTA cargoes were quoted at $1,260-1,265/tonne (€882-886/tonne) CFR (cost and freight) CMP (China Main Port) on Monday morning, up $10-15/tonne from Friday's levels, traders said, adding that one shipment was concluded at $1,260/tonne CFR CMP.
Over the weekend, the local government of Dalian in northeastern China has ordered that the 700,000 tonne/year PX plant be immediately shut following protests over the weekend that the company’s aromatics facility be relocated on pollution concerns.
“PX prices may rise above to $1,600/tonne CFR CMP on potential tight supply, so PTA prices will be supported by higher feedstock cost,” said a PTA trader.
Spot PX prices were last assessed at between $1,519-$1,529/tonne CFR CMP on 12 August, according to ICIS.
Early last week, rains and strong waves brought on by Typhoon Muifa breached the protective dike of Fujia Dahua’s aromatics complex, raising concerns of toxic chemical spill among residents in the surrounding areas.
China’s major downstream PTA producers, including Yisheng Petrochemical, Yuandong Petrochemical, Xianglu Petrochemical partly rely on feedstock supply from Fujia Dahua’s PX plant in Dalian, market sources said.
No force majeure was issued so far, said a source at Yuandong Petrochemical.
Fujia Dahua, meanwhile, is still running normal operations at the PX facility as of early Monday afternoon.
“We are still operating the plant normally and there is no immediate impact to August shipments,” said an official from the company.
“We are still negotiating with the local government on how we are going to handle this issue. Discussions are in the early stages,” the official added.
Taking aside the issue of a possible increase in feedstock costs, however, PTA prices do not find much support from downstream demand, market sources said.
Recent soft sales-to-output ratio from downstream polyester plants will likely hinder PTA price gains.
“If PTA prices could not rise in line with rising PX prices, we will consider cutting the operating rates due to squeezed margin,” said a major PTA producer.
Source: ICIS
译文如下：
成本或将飙升，亚洲PTA利润有望提高
新加坡（ICIS）---周一，市场人士告诉记者，未来几周内，亚洲精对苯二甲酸（PTA）价格将继续提高，其主要推动因素是，馥嘉大华关闭 了在中国大连的芳香烃工厂，导致亚洲PX供应偏紧，其价格或将飙升。
周一上午，台湾PTA船货报价为$1260-1256/t (€882-886/t) CFR （成本加运费）CMP （中国主要港口），与周五相比，上涨$10-15/t，贸易商补充说道，一次装运结算价为$1260/t, CFR 中国主要港口。
上周末，中国大连当地政府下令，由于污染问题，应民众抗议要求，将迅速关闭年产70万吨PX产能的芳香烃装置。
“由于潜在的供应偏紧状况，PX价格或将提升至$1600/t，CFR中国主要港口，由此，PTA价格也将因原料高成本压力而上行，”一PTA贸易商告诉我们。
根据ICIS统计数据显示，2011/8/12，PX现货价格为$1,519-$1,529/t， CFR 中国主要港口。
上周初，受台风梅花影响，强雨和大浪打破了馥嘉大华芳香烃设备保护堤，对于可能造成的化学物质泄漏，引起了附近地区居民的恐慌。
中国主要的下游PTA生产商，包括逸盛石化，远东化工，翔鹭石化，部分原料供给都来源于馥嘉大华在大连的PX工厂，市场人士说。
远东石化某市场人士表示，目前政府关闭工厂的法令还未落实。
而此时，馥嘉大华周一下午PX装置依然正常运转。
“工厂装置依然保持正常运行，对于八月份的货物，不会造成直接影响”公司发言人表示。
“我们依然在与当地政府协商如何处置此事，现在讨论还处于初步阶段。”官方发言人补充说道。
暂把原料成本增加的可能性搁置一边，PTA下游需求疲软，恐怕也难以提价。
近期，因下游涤丝厂家外销疲软，也很可能会抑制PTA价格上涨。
如果PTA价格未能与上涨的PX价格同步，我们将会考虑降低开工率来应对收缩的利润空间。一PTA大厂生产商告诉记者。
Offers for Taiwan PTA cargoes were quoted at $1,260-1,265/tonne (€882-886/tonne) CFR (cost and freight) CMP (China Main Port) on Monday morning, up $10-15/tonne from Friday's levels, traders said, adding that one shipment was concluded at $1,260/tonne CFR CMP.
Over the weekend, the local government of Dalian in northeastern China has ordered that the 700,000 tonne/year PX plant be immediately shut following protests over the weekend that the company’s aromatics facility be relocated on pollution concerns.
“PX prices may rise above to $1,600/tonne CFR CMP on potential tight supply, so PTA prices will be supported by higher feedstock cost,” said a PTA trader.
Spot PX prices were last assessed at between $1,519-$1,529/tonne CFR CMP on 12 August, according to ICIS.
Early last week, rains and strong waves brought on by Typhoon Muifa breached the protective dike of Fujia Dahua’s aromatics complex, raising concerns of toxic chemical spill among residents in the surrounding areas.
China’s major downstream PTA producers, including Yisheng Petrochemical, Yuandong Petrochemical, Xianglu Petrochemical partly rely on feedstock supply from Fujia Dahua’s PX plant in Dalian, market sources said.
No force majeure was issued so far, said a source at Yuandong Petrochemical.
Fujia Dahua, meanwhile, is still running normal operations at the PX facility as of early Monday afternoon.
“We are still operating the plant normally and there is no immediate impact to August shipments,” said an official from the company.
“We are still negotiating with the local government on how we are going to handle this issue. Discussions are in the early stages,” the official added.
Taking aside the issue of a possible increase in feedstock costs, however, PTA prices do not find much support from downstream demand, market sources said.
Recent soft sales-to-output ratio from downstream polyester plants will likely hinder PTA price gains.
“If PTA prices could not rise in line with rising PX prices, we will consider cutting the operating rates due to squeezed margin,” said a major PTA producer.
Source: ICIS
译文如下：
成本或将飙升，亚洲PTA利润有望提高
新加坡（ICIS）---周一，市场人士告诉记者，未来几周内，亚洲精对苯二甲酸（PTA）价格将继续提高，其主要推动因素是，馥嘉大华关闭 了在中国大连的芳香烃工厂，导致亚洲PX供应偏紧，其价格或将飙升。
周一上午，台湾PTA船货报价为$1260-1256/t (€882-886/t) CFR （成本加运费）CMP （中国主要港口），与周五相比，上涨$10-15/t，贸易商补充说道，一次装运结算价为$1260/t, CFR 中国主要港口。
上周末，中国大连当地政府下令，由于污染问题，应民众抗议要求，将迅速关闭年产70万吨PX产能的芳香烃装置。
“由于潜在的供应偏紧状况，PX价格或将提升至$1600/t，CFR中国主要港口，由此，PTA价格也将因原料高成本压力而上行，”一PTA贸易商告诉我们。
根据ICIS统计数据显示，2011/8/12，PX现货价格为$1,519-$1,529/t， CFR 中国主要港口。
上周初，受台风梅花影响，强雨和大浪打破了馥嘉大华芳香烃设备保护堤，对于可能造成的化学物质泄漏，引起了附近地区居民的恐慌。
中国主要的下游PTA生产商，包括逸盛石化，远东化工，翔鹭石化，部分原料供给都来源于馥嘉大华在大连的PX工厂，市场人士说。
远东石化某市场人士表示，目前政府关闭工厂的法令还未落实。
而此时，馥嘉大华周一下午PX装置依然正常运转。
“工厂装置依然保持正常运行，对于八月份的货物，不会造成直接影响”公司发言人表示。
“我们依然在与当地政府协商如何处置此事，现在讨论还处于初步阶段。”官方发言人补充说道。
暂把原料成本增加的可能性搁置一边，PTA下游需求疲软，恐怕也难以提价。
近期，因下游涤丝厂家外销疲软，也很可能会抑制PTA价格上涨。
如果PTA价格未能与上涨的PX价格同步，我们将会考虑降低开工率来应对收缩的利润空间。一PTA大厂生产商告诉记者。
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