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Insight | Time: May 9 2022 1:42PM  Editor:Diana Yu
China's PTA exports to stay high in Q2
 
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In terms of export destinations, India, Turkey, Vietnam, Oman, Saudi Arabia, Pakistan, Taiwan, Egypt and Russia were the main importers of China's PTA, among which India and Turkey have the largest share, accounting for 45% of the total export volume. On a year-on-year basis, PTA exports to Turkey, Vietnam, Taiwan, and India increased significantly. The increase in imports in Vietnam and Taiwan was mainly due to 2-month shutdown of OPTC's 1.5 million-ton unit in Taiwan and OPTC had purchased PTA from the Chinese market to supplement the supply to Taiwan and Vietnam markets.


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PTA monthly imports of Turkey and India this year increased year on year. The import volume of Turkey from China almost doubled in January as the volume from Poland, Russia, and India has been reduced to zero.


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According to the maintenance schedules, only IOC's 500,000-ton and MCPI 800,000-ton plants were shut for turnaround in India, while the rest of the plants were mostly in normal operation with small production losses. Turkey's PTA plant overhaul has not been heard. Therefore, the increase in imports is mainly due to the improvement in demand.


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In the second quarter, some PTA units in Taiwan have been overhauled gradually. Indonesia's MCCI was shut down due to an explosion and has not been restarted yet. It is estimated that the monthly export volume of PTA in the second quarter will maintain at a high level thanks to the acceptable overseas PTA demand and arbitrage opportunities between domestic and export market.

[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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