January 31St Market Morning Post: In The Short Term, PTA Market Price Consolidation.
Yesterday (January 30, 2019) the PTA futures market moved slightly upward, and the market discussed the price at 6480-6540 yuan / ton.
The US crude oil inventories increased less than expected today, the decline of the finished oil depots, resulting in the rise of crude oil, the PX also rose sharply, and strong support for PTA, but at present, the downstream polyester operation rate is 76.32%, and the production and marketing are light, leading to a weak demand for PTA.
PTA market price consolidation is expected in the near future.
| industry | product | Area / unit | Previous price | Current price | Ups and downs | Ups and downs |
| crude oil | WTI | USD / barrel | Fifty-three point three one | Fifty-four point two three | +0.92 | +1.73% |
| BRENT | USD / barrel | Sixty-one point three two | Sixty-one point six five | +0.33 | +0.54% | |
| polyester | PX | CFR China (US $/ ton) | One thousand and fifty-nine point six seven | One thousand and seventy-three | +13.33 | +1.26% |
| PTA | Inner East China | Six thousand four hundred and fifty-five | Six thousand and five hundred | +45 | +0.70% | |
| MEG | Inside Zhangjiagang | Five thousand and five | Five thousand and thirty-five | +30 | +0.60% | |
| Polyester filament | POY150D/48F | Eight thousand four hundred and fifty | Eight thousand four hundred and fifty | Zero | 0% | |
| FDY150D/96F | Nine thousand five hundred and fifty | Nine thousand five hundred and fifty | Zero | 0% | ||
| DTY150D/48F | Ten thousand three hundred and fifty | Ten thousand three hundred and fifty | Zero | 0% | ||
| Spun | 1.4D direct spinning | Eight thousand and eight hundred | Eight thousand and eight hundred | Zero | 0% | |
| Section | Semi optical section | Seven thousand and nine hundred | Seven thousand and nine hundred | Zero | 0% | |
| Bright section | Seven thousand and nine hundred | Seven thousand and nine hundred | Zero | 0% | ||
| Bottle flake | East China polyester bottle | Eight thousand and three hundred | Eight thousand and three hundred | Zero | 0% | |
| Focus News | 1, the Federal Reserve announced that the stock market rose sharply, and the NASDAQ rose 2.2%. | |||||
| 2, the Federal Reserve did not act as scheduled, deleted the phrase "further interest rate increase", promised to flexibly adjust the scale, and did not rule out the resumption of QE. | ||||||
| 3, the US ADP employment increased by 213 thousand in January, and the employment in manufacturing industry hit a new high of 6 years. | ||||||
| 4, the Central Bank of China will issue two central bank bills in Hongkong in February 13th. | ||||||
| 5, the Central Bank of China put another 50 billion in net interest rates. | ||||||
| prediction | In the morning, the official manufacturing industry, service industry and comprehensive PMI will be released in January. | |||||
| In the afternoon, the euro area's four quarter GDP value and the unemployment rate in December will be announced. Amazon's earnings will be announced the next morning. | ||||||
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