February 1St Market Morning Post: Cost Support PX Market Shock Finishing
1. yesterday's market situation
Yesterday (January 31, 2019) Asian PX prices rose 14 US dollars / ton to US $1087 / ton CFR Taiwan / China and 1067.33 US dollars / ton FOB Korea.
The effect of OPEC1 month reduction is remarkable, but the prospect of Sino US trade consultation is still unclear, and international oil prices are mixed.
In February, Asia's PX ACP reached 1050 dollars / ton CFR Asia, and the two sides were: -BP, Exxon Mobil Sheng, reliance -BP, Yisheng and Sheng Hong.
Yesterday, the PX price of Asian ships in March was $1086 / tonne CFR China. In April, the shipping price was $1089-1090 / ton CFR China, the market atmosphere was generally.
2. upstream market
(1) the closing date of 1/31: the effect of OPEC1 month reduction is remarkable, the largest monthly decline in two years, but the prospect of Sino US trade consultation is still unclear, and international oil prices are mixed.
WTI53.79 fell 0.44 US dollars / barrel; Brent 61.89 increased 0.24 US dollars / barrel.
China's SC main force rose 1903 to 6 yuan to 431 yuan / barrel.
(2) naphtha: in January 31st, the current price of naphtha in Japan was 510.63 US dollars / ton, up 9.88 US dollars / ton compared with the previous trading day, and the current price of naphtha in Singapore was 55.2 US dollars / barrel, up 1.3 US dollars / ton compared with the previous trading day.
3. short term forecast
Expected cost support, today's PX market shock finishing.
industry | product | Area / unit | Previous price | Current price | Ups and downs | Ups and downs |
energy | WTI | USD / barrel | Fifty-four point two three | Fifty-three point seven nine | -0.44 | -0.81% |
BRENT | USD / barrel | Sixty-one point six five | Sixty-one point eight nine | +0.24 | +0.39% | |
naphtha | Japan (US $/ ton) | Five hundred point seven five | Five hundred and ten point six three | +9.88 | +1.97% | |
polyester | PX | CFR China (US $/ ton) | One thousand and seventy-three | One thousand and eighty-seven | +14 | +1.30% |
PTA | Inner East China | Six thousand and five hundred | Six thousand five hundred and forty-five | +45 | +0.70% | |
MEG | Inside Zhangjiagang | Five thousand and thirty-five | Five thousand and ninety | +55 | +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 US stock market started 1987 to be best in January, the NASDAQ rose nearly 1.4% on a single day, and the offshore renminbi hit a new high in July last year. | |||||
2, Amazon's year-end shopping season has been successful, but its profit growth engine has slowed down, its performance guidelines have been growing at a low level, and its share price has fallen by over 5% after its concussion. | ||||||
3, the GDP growth rate in the euro area has reached a new low of four years, and Italy is in a technical recession. | ||||||
4, China's official manufacturing PMI in January was higher than expected, but it was still below the withered line for second months in a row. | ||||||
5, the SFC will issue a new deal. QFII and RQFII will combine into one, expand investment scope and relax access conditions. | ||||||
prediction | 1, the PMI of China's new manufacturing industry in January will be announced in the morning. | |||||
2, the United States January non farm employment report and ISM manufacturing index will be released in the evening. | ||||||
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