January 28Th Market Morning Post: Polyester Into The Holiday Mode In The Short Term, PTA Price Shock Finishing
1. yesterday's market and Forecast:
Last week, the five PTA futures market was strong and the spot price rose slightly, and the negotiating price was 6940-6920 yuan / ton. Today, crude oil prices rise, upstream PX prices rebound, cost side PTA support. However, the downstream polyester has entered the holiday mode, the operating rate has dropped, the polyester market activity is not high, polyester production and marketing are sluggish, and polyester storage has increased. It is expected that PTA prices will be sorted out in the short term.
2. upstream market:
(1) crude oil: closing on January 25th: 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 port is 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) on PX:1 25, the Asian PX market closed at 1056 US dollars / ton FOB Korea and 1075.67 US dollars / ton CFR China, up 12.17 US dollars / ton compared with the previous trading day.
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