Purified terephthalic acid (PTA) has a relative molecular weight of 166. 13 and a structural formula of HOOC[C6H4]COOH. It is a white powdery crystal at room temperature, which is non-toxic and flammable. If it is mixed with air within a certain limit, it will burn in case of fire. Polyethylene terephthalate (PET) is formed by polycondensation of high-purity PTA and ethylene glycol (EG), and can also react with 1, 4- ethylene glycol or 1, 4- cyclohexanedicarboxylic acid to form the corresponding ester, which is mainly used to produce polyester. Polyester fiber is the most important variety of synthetic fiber, accounting for nearly 80% of the total output of synthetic fiber in the world. In China, the polyester fiber produced from polyester has exceeded 80% of the total synthetic fiber output. In addition, the amount of PTA consumed by polyester in the production of non-fiber products has increased rapidly recently, and the amount of polyester in the non-fiber field has also continued to increase. At present, the products are mainly used for esterification polymerization with ethylene glycol to produce polyester fibers with short polyester chips, which are widely used in textiles. In addition, polyester is also used to produce films, paints and polyester plastics.
The application of PTA is relatively concentrated. More than 90% of PTA in the world is used to produce polyethylene terephthalate, and the rest is used as raw materials for products such as polytrimethylene terephthalate (PTT) and polybutylene terephthalate (PBT).
PTA production process can be divided into two parts: oxidation unit and hydrofining unit. Using acetic acid as solvent, raw material p-xylene is oxidized into crude terephthalic acid by air under the action of catalyst, and then the crude product is obtained by crystallization, filtration and drying in turn. Crude terephthalic acid is hydrogenated to remove impurities, then crystallized, centrifugally separated and dried to obtain PTA products.
Purified terephthalic acid is the main raw material for producing polyester fiber, resin, film and container resin, which is widely used in chemical fiber, container, packaging and film production. The raw material of PTA is xylene, and the raw material of xylene is petroleum. PTA is the raw material of polyester, and polyester is the raw material of polyester, while chemical fiber is 80% polyester, and chemical fiber accounts for 36% of the raw material of textile industry.
China's demand for PTA futures
At present, there are no PTA futures varieties abroad. China is the largest PTA consumer market in the world, and its import dependence is about 50%. The introduction of PTA futures will help all parties concerned avoid the risk of price fluctuation and further compete for the pricing power of PTA.
At present, China is the largest PTA consumer market in the world. Last year, China's PTA output was 5.5 million tons, and its consumption exceeded 6.5438+million tons. It is estimated that the demand will reach170,000 tons by 2065.438+00, and a large part of the domestic PTA market needs to be imported to make up for it. Due to the expansion of market demand and the rise of oil price, the PTA market price has been rising in recent years. Due to the lack of hedging tools, related enterprises bear great market risks.
The future of PTA futures
PTA (purified terephthalic acid) futures are expected to land on Zhengzhou Commodity Exchange this year. The listing of PTA futures has been approved by the State Council.
PTA price
PTA cost price = =0.655×PX price+1200.
PTA cost price = =0.655×PX price+1200. The price of 0.655×PX is the cost of raw materials, and 1200 yuan is various production costs.
(1) Raw material cost of PTA production
Raw material cost of PTA =0.655*PX price.
(2) The direct processing cost per unit product is about 375 yuan/ton.
(3) The unit product packaging cost is about 45 yuan/ton.
(4) The labor cost per unit product is about 20 yuan/ton.
(5) The financial cost per unit product is about 145 yuan, and the depreciation per unit product is about 305 yuan.
(6) The freight per unit product is about 50 yuan/ton.
(7) The unit product maintenance and management costs are expected to be in 60 yuan/ton.
(8) 8) Total pre-tax cost of PTA production: 0.655×PX price+1000.
Note: PX, also known as p-xylene, is an important organic chemical raw material and can be used to produce PTA.
PTA import price calculation:
The calculation formula is PTA 570 USD/ton * equivalent to RMB exchange rate * * * VAT * * 6.5% tariff+dock fee 150 yuan/ton =5530.62 yuan/ton.
PTA import price = FOB × RMB exchange rate × VAT × tariff 6.5%+ dock fee 150 yuan/ton.
PTA import tariff will be reduced year by year. According to the tariff schedule, China's PTA tariff in 2002 was 12.8%, and the take-off and landing in 2003 was 1 1.8%. In 2005, the import tariff of polyester chain products: p-xylene (PX), purified terephthalic acid (PTA) and polyethylene terephthalate (PET) decreased by 0.5%- 1%. The import duty of PTA is reduced by 0.5% to 6.5% on the basis of the tax rate in 2004.