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January 10Th Market Morning Post: PTA Futures Market Shocks Rose, Spot Prices Rose Sharply

2019/1/10 11:02:00 30

PTA Futures

1. yesterday's market and Forecast:

Yesterday (January 9, 2019) PTA futures market shocks rose, spot prices rose sharply, negotiating price of 6260-6350 yuan / ton.

Recently, the crude oil has greatly increased, the cost side has re established support for PTA, and polyester has also been on the rise of raw materials and production and sales at a high level recently. However, near the Spring Festival, polyester manufacturers are still mainly going to the warehouse, and the price intention is not strong enough. With the advent of polyester production reduction stage, demand is dropping, and the PTA price is expected to be dominated by shock adjustment in the near future.

2. upstream market:

(1) crude oil: closing on January 9th: Saudi Arabia said that it would increase the intensity of production reduction with the joint OPEC, effectively boost market confidence, and the pace of interest rate hike in the US Federal Reserve slowed down.

WTI52.36 rose 2.58; Brent 61.44 rose 2.72 dollars / barrel.

China's SC main force rose 1903 to 3.1 yuan to 412.2 yuan / barrel.

(2) on PX:1 9, the Asian PX market closed at 1021.17 US dollars / ton FOB Korea and 1041.17 US dollars / ton CFR China, up 36.5 US dollars / ton compared with the previous trading day.

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January 10Th Market Morning Paper: Polyester Staple Prices Are Rising Narrowly, But The Expected Increase Is Limited.

The trade situation between China and the United States eased, and Saudi Arabia's push for production cuts continued. Overnight oil prices rose sharply, and PX rose 36.5 US dollars, PTA futures overnight.