February 22Nd Market Morning Post: PTA Price Volatility In The Short Term
Yesterday (February 21, 2019), driven by the rise in crude oil, the PTA spot market rose sharply.
Yangzi Petrochemical 350 thousand tons / year installation heating restart, Jialong Petrochemical 600 thousand tons / year device shutdown maintenance, but PTA started high overall, inventory continues to rise.
Downstream polyester production and marketing continued to be weak, factory stocks continue to rise, polyester factory price promotions come and go inventory.
Crude oil prices fell slightly today, but the cost side continued to support PTA prices, and PTA prices are expected to oscillate in a short time.
| industry | product | Area / unit | Previous price | Current price | Ups and downs | Ups and downs |
| crude oil | WTI | USD / barrel | Fifty-six point nine two | Fifty-six point nine six | +0.04 | +0.07% |
| BRENT | USD / barrel | Sixty-seven point zero eight | Sixty-seven point zero seven | -0.01 | -0.01% | |
| polyester | PX | CFR China (US $/ ton) | One thousand one hundred and eleven point three three | One thousand one hundred and twenty-two point three three | +11 | +0.99% |
| PTA | Inner East China | Six thousand four hundred and thirty | Six thousand four hundred and seventy-five | +45 | +0.70% | |
| MEG | Inside Zhangjiagang | Four thousand nine hundred and twenty-five | Four thousand nine hundred and fifty | +25 | +0.51% | |
| Polyester filament | POY150D/48F | Eight thousand and four hundred | Eight thousand and four hundred | Zero | 0% | |
| FDY150D/96F | Nine thousand three hundred and fifty | Nine thousand three hundred and fifty | Zero | 0% | ||
| DTY150D/48F | Ten thousand two hundred and fifty | Ten thousand two hundred and fifty | Zero | 0% | ||
| Spun | 1.4D direct spinning | Eight thousand and eight hundred | Eight thousand seven hundred and seventy-five | -25 | -0.28% | |
| Section | Semi optical section | Seven thousand and nine hundred | Seven thousand eight hundred and fifty | -50 | -0.63% | |
| Bright section | Seven thousand and nine hundred | Seven thousand eight hundred and fifty | -50 | -0.63% | ||
| Bottle flake | East China polyester bottle | Eight thousand and three hundred | Eight thousand and three hundred | Zero | 0% | |
| Focus News | 1, the European and American economic data is not good, the NASDAQ stopped rising eight times, vip.com fell nearly 14%, the US dollar rose, and the US debt fell. | |||||
| 2, in February, the euro zone's manufacturing PMI fell below the ups and downs line, hitting a 68 month low; the ECB's January summary: considering providing banks with a new round of cheap long-term loans, trade conflicts are increasingly affecting economic growth. | ||||||
| 3, the European Central Bank January summary: consider providing banks with a new round of cheap long-term loans, and trade conflicts are increasingly affecting economic growth. | ||||||
| 4, the Central Bank of China's fourth quarter monetary policy report: guide the money market interest rate center downward, monetary policy is stable but no longer mention "neutral", the first mention of the six major banks. | ||||||
| 5, on Thursday, the Central Bank of China issued 71 billion 900 million yuan in mortgage supplementary loans (PSL). | ||||||
| prediction | 1, the 70 city housing price index will be released in the morning of January. | |||||
| 2, the four quarter GDP final value of Germany and the final value of Euro January CPI will be announced in the afternoon. | ||||||
| 3, the Federal Reserve of Atlanta and the Federal Reserve of New York jointly held a one day seminar on "quantitative tools for monitoring macroeconomic and financing environment". | ||||||
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