February 15Th Market Morning Post: PX Prices Rose Narrowly
1. yesterday's market situation
Yesterday (February 14, 2019) Asian PX prices rose by 8.17 US dollars / ton and US $8.16 / ton to US $1101.83 / ton CFR Taiwan / China and 1082.5 FOB / ton Korea respectively.
Although the PTA night market is running weak, but because Saudi Arabia's position will continue to support the reduction of production, international oil prices continue to rise, overlay GSCX continued to purchase spot, resulting in yesterday's PX spot market prices rebounded.
Yesterday, the PX market in Asia was extremely cold. In March, the actual paction price was $1099-1100 / ton CFR China, in April, the paction price was 1104-1106 yuan / ton.
2. upstream market
(1) the closing date of 2/14: Saudi Arabia's position will continue to support production cuts, and China's crude oil imports will continue to grow in January. In addition, the Sino US trade consultation will release positive signals, and international oil prices will continue to rise.
WTI54.41 rose 0.51 US dollars / barrel; Brent 64.57 increased 0.96 US dollars / barrel.
China's SC main force rose 1903 to 2.1 yuan to 435.8 yuan / barrel.
(2) naphtha: in February 14th, the current price of naphtha in Japan was 515.5 US dollars / ton, up 7.88 US dollars / ton compared with the previous trading day, and the current price of naphtha in Singapore was 55.89 US dollars / barrel, up 0.87 US dollars / ton compared with the previous trading day.
3. short term forecast
Expected cost support, downstream PTA market downward space is limited, PX prices are expected to narrow today.
Varieties | product | Two 13 June | Two 14 June | Ups and downs | Range | Company |
crude oil | WTI | Fifty-three point nine | Fifty-four point four one | +0.51 | +0.95% | USD / barrel |
BRENT | Sixty-three point six one | Sixty-four point five seven | +0.96 | +1.51% | USD / barrel | |
PX | CFR China | One thousand and ninety-three point six seven | One thousand one hundred and one point eight three | +8.16 | +0.75% | US dollar / ton |
PTA | East China spot | Six thousand five hundred and seventy-five | Six thousand four hundred and sixty | -115 | -1.75% | Yuan / ton |
CFR China | Eight hundred and fifty-five | Eight hundred and forty-five | -10 | -1.17% | US dollar / ton | |
MEG | East China spot | Five thousand and fifty-five | Five thousand and twenty-five | -30 | -0.59% | Yuan / ton |
CFR China | Six hundred and twenty-three | Six hundred and twelve | -11 | -1.77% | US dollar / ton | |
EG futures | One thousand nine hundred and six | Five thousand one hundred and eighty-four | Five thousand one hundred and sixty-four | -20 | -0.39% | Yuan / ton |
One thousand nine hundred and nine | Five thousand two hundred and forty-seven | Five thousand two hundred and thirty-eight | -9 | -0.17% | Yuan / ton | |
EG06-09 | -63 | -74 | -11 | -17.46% | Yuan / ton | |
Basis | -129 | -139 | -10 | -7.75% | Yuan / ton | |
Mainstream reservoir area | delivering amount | Five thousand five hundred and fifty | Five thousand five hundred and fifty | Zero | 0% | ton |
Section | Half light | Seven thousand nine hundred and fifty | Seven thousand nine hundred and fifty | Zero | 0% | Yuan / ton |
filament | POY150D/48F | Eight thousand four hundred and fifty | Eight thousand four hundred and fifty | Zero | 0% | Yuan / ton |
FDY150D/96F | Nine thousand five hundred and fifty | Nine thousand five hundred and fifty | Zero | 0% | Yuan / ton | |
DTY150D/48F | Ten thousand three hundred and fifty | Ten thousand three hundred and fifty | Zero | 0% | Yuan / ton | |
Spun | 1.4D Direct spinning | Eight thousand eight hundred and fifty | Eight thousand eight hundred and fifty | Zero | 0% | Yuan / ton |
Bottle flake | East China market | Eight thousand and three hundred | Eight thousand and three hundred | Zero | 0% | Yuan / ton |
Polyester production and marketing | Polyester filament | Twenty | Twenty | % | ||
Spun | 10-30 | 10-50 | % | |||
Section | 10-30 | 0-20 | % | |||
Focus News | One The chairman of the Federal Reserve: the downside risk is significantly improved, and the scale should end before the end of this year. | |||||
Two The retail data is gloomy. Trump will declare a state of emergency. The S & P and Dow are down. | ||||||
Three US retail sales in December were far worse than expected, the biggest decline in more than nine years. | ||||||
Four GDP growth in the euro zone continued to hit a four year low, and Germany managed to shake off the recession. | ||||||
Five China's exports rebounded sharply in January, import growth accelerated, soybean imports increased by nearly 30%, natural gas imports recorded a new record, and China's trade surplus with the US narrowed. | ||||||
prediction | One China's social credit, credit and monetary data released in January | |||||
Two In the morning, China will announce CPI and PPI in January. | ||||||
Three In the evening, the US industrial output in January and the initial consumer confidence index of University of Michigan in February will be released. | ||||||
Industry start up rate | |||
industry | Two 13 June | Two 14 June | change |
PX | 86.17% | 86.17% | 0% |
PTA | 84.18% | 86.91% | +2.73% |
polyester | 80.42% | 82.41% | +1.99% |
Psf | 70.76% | 73.48% | +2.72% |
Jiangsu and Zhejiang looms | 38% | 43% | +5.00% |
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