For the production capacity of 47 million tons of industrial, oil price fluctuations "extremely important". A noteworthy phenomenon is that outside dish traders, traders have become indispensable in the PTA enterprises talent.
China securities journal reporter found that in the process of visiting the PTA industry chain enterprises visited almost all of the company have such jobs. Some analysts told reporters that the PTA business capacity concentration is higher, for large enterprises, can produce millions or even tens of millions of tons, drop in price 100 yuan/ton, means wasted millions of dollars. Companies to price volatility risk control is very important.
And because it is important to note that China's petrochemical market monopoly pattern for a long time, China's oil price conduction mechanism is not very smooth, the correlation between the price of crude oil and PTA price also is not very sure, to the end of December 2008, the domestic PTA prices once and obvious changes in "reverse" relationship between the price of crude oil in, time for three months.
Since October 2008, the international oil prices continued to fall, the domestic refined oil prices drop calls, but our country's two main oil products suppliers with the international crude oil suppliers are signed long-term supply agreement, import price basic locking above $100 a barrel. Its in order to ensure profits (or losses) have distributed valuation, directly caused the high international oil prices, domestic oil cracking by-product prices, PTA is so.
Now, in 2015, private local refining enterprise oil imports formal ice-breaking, achieved breakthrough progress. That year, a total of six places for crude oil refining enterprises of state-run trade qualifications. This changes the situation of oil production and excessive concentration of amongs so many brands in our country, the future price of oil market will be further deepened. Associated with the PTA downstream, such as cracking, processing by-product price conduction mechanism will also be more linked to the international market.
According to the previously reported, hengli petrochemical integration of 20 million tons of oil refining project has been on December 9, formally in dalian changxing island economic zone construction, become China's first enter the corporation in the field of oil refining. At present, the constant force of petrochemical has three PTA production lines, production amounted to 6.6 million tons.
Predictably, the domestic PTA price linkage with international market price would be even more frequent. Research, some business people for PTA industry outlook in 2016 seem to be some not bottom spirit, has mentioned "also look at the price of crude oil market".
But it is worth noting that in the first half of 2015, in the process of international oil prices plunged, conveniently fall, PTA late but a drop in oil prices, especially in the near future, PTA is out of the independent market, affected by the price of crude oil is weaker.
The personage inside course of study thinks, the PTA are independent movements in the late underscores the growing a variety of influence. For related enterprises, PTA futures this tool is indispensable, it is not completely follow the oil price rise and fall, because the industry has a unique game information and price formation mechanism.