I. Focus Points

3/20: The US continues to strengthen sanctions on Iran, and the instability in the Middle East brings potential supply risks, leading to an increase in international oil prices. NYMEX04 contract 68.26 up 1.10 USD/barrel, MoM +1.64%; ICE Brent crude futures 05 contract 72.00 up 1.22 USD/barrel, MoM +1.72%. China INE crude oil futures main contract 2505 up 0.6 to 522 CNY/barrel, night session up 12.1 to 534.1 CNY/barrel.

2, The PTA market is under pressure and declining, while the BDO market is operating weakly.

3, stable production in terms of equipment.

core logicCost support is average, PBT market fluctuates within a range, downstream and terminal continue to observe.

II. Price List

Three, Market Outlook

It is expected that the PBT market will fluctuate within a range today. The cost side PTA terminal performance is below expectations, and the downstream purchasing enthusiasm is not good. However, the domestic supply and demand maintain a tight pattern, and the overall valuation is low. The international oil price rebound provides solid cost support, and the domestic PTA spot market is expected to be strong in the short term. At the end of the BDO cycle, the market news is light, and most industry players are waiting for the settlement and progress of new capacity commissioning. The actual downstream demand is weak, and the overall market trend is slightly stable but weak. The fundamentals of PBT have limited changes, with pressure from the terminal and downstream to lower prices. The market focus is expected to fluctuate on the weaker side. Therefore, Longzhong expects that the price of medium and low viscosity PBT resin in the East China market today will be in the range of 7900-8200 yuan/ton.

Four, Data Calendar