January 28Th Market Morning Post: PX Market High Volatility
1. yesterday's market situation
Friday Asian PX prices rose 12.17 US dollars / ton to 1075.67 US dollars / ton CFR Taiwan / China and 1056 US dollars / ton FOB Korea.
The crude oil closed up on Friday, and the downstream PTA spot market narrowed sharply.
In March, PX spot traded at 1076 US dollars / ton CFR Taiwan / China, cost supporting and strong buying on the market.
2. upstream market
(1) the closing date of 1/25: the market is worried that the deterioration of the relationship between the US and the Commission will lead to tighter supply and increased risk. In addition, Libya's ports are closed due to bad weather and international oil prices both rise.
WTI53.69 rose 0.56 US dollars / barrel; Brent 61.64 increased 0.55 US dollars / barrel.
China's SC main force fell 1903 to 1.4 yuan to 427.3 yuan / barrel.
(2) naphtha: in January 25th, the current price of naphtha in Japan was 492.5 US dollars / ton, up 14.88 US dollars / ton compared with the previous trading day, and the current price of naphtha in Singapore was 52.83 US dollars / barrel, up 1.88 US dollars / barrel compared with the previous trading day.
3. short term forecast
Expected cost support, today's PX market high volatility.
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