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January 21St Market Morning Post: PTA Price Concussion In The Short Term

2019/1/21 11:27:00 23

PTA Price

1. yesterday's market and Forecast:

Friday PTA futures market shocks rose, spot prices rose slightly, negotiating price of 6270-6340 yuan / ton.

Crude oil prices rebounded strongly on Friday, driving PX prices down.

At present, PTA and downstream polyester stocks are relatively low, but the terminal market stocking has entered the finishing stage, the pet factory parking has increased further. It is expected that PTA prices will be sorted out in the short term.

2. upstream market:

(1) crude oil: closing on January 18th: the number of us oil drilling has reached the biggest decline in nearly three years, and the Sino US trade consultation has seen a new light. In addition, Russia has said that it will actively cooperate with the OPEC production reduction, and the international oil price has rebounded strongly.

WTI53.80 rose 1.73; Brent 62.70 rose 1.52 dollars / barrel.

China's SC main force rose 1903 to 2.7 yuan to 424.8 yuan / barrel.

(2) on PX:1 18, the Asian PX market closed at 1050.33 US dollars / ton FOB Korea and 1070 US dollars / ton CFR China, up 11 US dollars / ton compared with the previous trading day.

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