PTA supply-demand gap to narrow in April

Many PTA units were shut for maintenance in March, while average polyester polymerization rate increased to 94%. PTA inventory piled up in February has been consumed. 

 PTA margin recovers gradually, while polyester products start to suffer loss

Estimation on PTA supply and demand in April 

In April, PTA plant operating rate is expected to rise gradually according to currently announced plans. However, some polyester companies started cutting production as the transportation of feedstock is stunted due to the spread of pandemic. The polyester polymerization rate may fall below 90% on Apr 7.