Japan'S Earthquake Triggered A PX Supply Shortage &Nbsp, Or Reduced China'S PTA Production.

It is reported that due to the tight supply of xylene to raw materials, some planned maintenance of some devices may reduce the production of PTA in China in April, the industry said.

Japan's PX earthquake ended last week due to the recent earthquake in Japan, which aggravated market supply and led to price inflation.

As Japan's JX oil and energy company announced the PX force majeure statement, while the demand for downstream PTA producers surged, spot PX prices rose to a record high of $1815 / ton on Wednesday, CFR Taiwan / China's main port CMP.

Meanwhile, the spot PTA price on Thursday also soared to 16 years, the highest 1500-1517 US dollars / ton CFR China's main port (CMP).

According to industry estimates, the output of PTA will be reduced by about 264 thousand tons, thereby reducing the demand for raw material PX by about 177 thousand tons.

On the other hand, the PTA reduction can stabilize the bullish PX price, but at the same time it will aggravate the PTA supply shortage.

During the period, apart from several sets of PTA shutdown in China, South Korea and Taiwan will also be closed down for maintenance.

Meanwhile, in the coming months, about 2 million tons of new polyester capacity will be put into production in the next few months, which is expected to exacerbate the tight supply of PTA demand.