Asian Market PX Rose Strongly &Nbsp, PTA Shock High
Overnight crude oil futures ignored the negative impact of a series of disappointing US economic data, continuing the recent strong rally, and the NYMEX main September crude oil futures clearing price rose by 1.21 US dollars, at 82.55 US dollars per barrel, with an intra day trading range of US $81.11-82.64.
The continued rally in Crude Oil supports and boosts the popularity of long buying.
Wednesday
PTA
The main contract TA101 opened at 7730, the initial purchase was active, the period price rose strongly, the intraday rose to a high point of 7798 near the end of the rise and fall, the end of the rally rebound, the final closing of 7754.
The global PX market has been steadily rising, the Asian market has further expanded, and the US market has remained stable.
At the close, Asia's PX rose by 41 US dollars to 924.5-925.5 USD / tonne FOB Korea and 939.5-940.5 USD / ton CFR Taiwan; us PX was flat at US $/ ton FOB US Gulf.
The PTA spot market in Asia has risen again, and Taiwan's cargo and bonded goods have been traded between 880-890 US dollars / ton.
Goods in stock
The offer still stands at 865 US dollars / ton or more, and the negotiation is close to $860 / ton.
market
Better buying, stronger atmosphere.
The PTA spot market in East China continued to rise, and the seller's offer rose to 7400 yuan / ton. The negotiation reached a price of 7300-7350 yuan / ton, the market atmosphere was active, and the mentality of buyers reluctant to sell was obvious.
The import and export market of ethylene glycol is going up and down, buyers are chasing the plate gradually hesitant, the market selling slightly increases, but the price is still higher. The general cargo offer is 790 US dollars / ton, the bonded offer is about 800 US dollars / ton, the cargo negotiates 780 dollars / ton, and there is a deal at this price.
East China ethylene glycol market trend stabilized, the mainstream market offer maintained 6550-6600 yuan / ton, large negotiated 6500 yuan / ton near the small negotiated deal in 6500-6550 yuan / ton, the market atmosphere is generally speaking, low-end small single deal is more smooth.
Tuesday domestic polyester chip market trading atmosphere is acceptable, but after the price increase volume is small, semifluid polyester chips, large gloss polyester chip price upward trend, CDP chips, polyester bottle tablets continue to move the focus of gravity.
Half spot market spot price in the market is 9300 yuan / ton March acceptance, cash mainstream in general 9250 yuan / ton; bright spot spot price in 9200 yuan / ton three months to short distance delivery, cash mainstream in general 9120 yuan / ton; CDP slice Market Spot Price in 10000 yuan / ton left right six months acceptance; polyester bottle market generally sent to the paction price of 95000 yuan /T.
International oil prices continue to be strong, PTA factory load high support PX demand, common support Asia PX price strong rebound, PTA cost support or will regain.
The downstream polyester chip market is quieter, and the market has experienced a recent hype, and downstream buyers have limited procurement and wait-and-see sentiment.
In terms of supply and demand, PX price rebounded obviously, slightly compressed PTA production profit space, but at present, domestic factory load continues to maintain a high level of 94%, the supply situation is not changed, the number of shipments in the market is increasing, and buying is rare, and the downward pressure on short-term market is increasing.
To sum up, we believe that short term PTA will mainly rely on pressure callbacks.
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