In terms of costs, the US military is preparing to restart major military operations against Iran. Trump is weighing the timing. The time to restart the operation may fall before the Israeli general election and the US midterm elections. The geographical situation may further intensify, and international oil prices continue to rise. On the supply side, South Korea's SKGC 1.3 million ton PX unit began 45 days of planned parking maintenance in early October, and parking maintenance of a 2 million ton PX unit in East China. Short-term PX load has declined. Yangzi Petrochemical and Hainan Refining and Chemical are scheduled to restart the 650,000 tons this month, and Taiwan FCFC plans to overhaul 300,000 tons for 2 weeks in October. Geography affects the supply of crude oil and refined oil products, increases the economy of aromatic hydrocarbon oil conversion, or limits the space for PX load increase. On the demand side, during the holiday period, two domestic PTA devices were overhauled, and the load dropped. Polyester construction has been stable for the time being, and the market has certain expectations for downstream orders and inventory replenishment demand after the holiday season. In short, PX supply and demand have both declined, and costs have risen. The market has certain expectations for demand for Silver 10. PX's main contract positions have increased sharply, and the intraday rise and stop. It is expected that short-term PX futures will maintain a strong pattern, focusing on the geographical situation, crude oil prices, and terminal demand follow-up.
Zhitongcaijing · 2d ago
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In terms of costs, the US military is preparing to restart major military operations against Iran. Trump is weighing the timing. The time to restart the operation may fall before the Israeli general election and the US midterm elections. The geographical situation may further intensify, and international oil prices continue to rise. On the supply side, South Korea's SKGC 1.3 million ton PX unit began 45 days of planned parking maintenance in early October, and parking maintenance of a 2 million ton PX unit in East China. Short-term PX load has declined. Yangzi Petrochemical and Hainan Refining and Chemical are scheduled to restart the 650,000 tons this month, and Taiwan FCFC plans to overhaul 300,000 tons for 2 weeks in October. Geography affects the supply of crude oil and refined oil products, increases the economy of aromatic hydrocarbon oil conversion, or limits the space for PX load increase. On the demand side, during the holiday period, two domestic PTA devices were overhauled, and the load dropped. Polyester construction has been stable for the time being, and the market has certain expectations for downstream orders and inventory replenishment demand after the holiday season. In short, PX supply and demand have both declined, and costs have risen. The market has certain expectations for demand for Silver 10. PX's main contract positions have increased sharply, and the intraday rise and stop. It is expected that short-term PX futures will maintain a strong pattern, focusing on the geographical situation, crude oil prices, and terminal demand follow-up.
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