February 22Nd Market Morning Post: Weak Operation Of PX Market Today
1. yesterday's market situation
Yesterday (February 21, 2019) Asian PX prices rose 11 US dollars / ton to US $1122.33 / ton CFR Taiwan / China and 1103.33 US dollars / ton FOB Korea.
During the window period yesterday, PX talked about $1122-1125 / ton CFR in April, and the price was $1119 / ton CFR in May.
Overnight oil prices narrowed down, downstream PTA night plate shock, downside, today's PX market trend.
2. upstream market
(1) 2/21 closing day: US crude oil output has hit a new high, and US crude oil inventories have continued to grow, while international oil prices have fallen. But OPEC production and geopolitical instability have restrained the decline.
WTI fell 56.96 to 0.20 dollars per barrel; Brent 67.07 fell 0.01 dollars / barrel.
China's SC main force fell 1904 to 0.3 yuan to 456.8 yuan / barrel.
(2) naphtha: in February 21st, the current price of naphtha in Japan was 542.88 US dollars / ton, up 5.25 US dollars / ton compared with the previous trading day, and the current price of naphtha in Singapore was 58.73 US dollars / barrel, up 0.47 US dollars / ton compared with the previous trading day.
3. short term forecast
It is estimated that the cost demand is weak, and the PX market is expected to be weak today.
Varieties | product | Two 20 June | Two 21 June | Ups and downs | Range | Company |
crude oil | WTI | Fifty-seven point one six | Fifty-six point nine six | -0.2 | -0.35% | USD / barrel |
BRENT | Sixty-seven point zero eight | Sixty-seven point zero seven | -0.01 | -0.01% | USD / barrel | |
PX | CFR China | One thousand one hundred and eleven point three three | One thousand one hundred and twenty-two point three three | +11 | +0.99% | US dollar / ton |
PTA | East China spot | Six thousand four hundred and thirty | Six thousand four hundred and seventy-five | +45 | +0.70% | Yuan / ton |
CFR China | Eight hundred and forty-five | Eight hundred and thirty-three | -12 | -1.42% | US dollar / ton | |
MEG | East China spot | Four thousand nine hundred and twenty-five | Four thousand nine hundred and fifty | +25 | +0.51% | Yuan / ton |
CFR China | Six hundred and three | Six hundred and eight | +5 | +0.83% | US dollar / ton | |
EG futures | One thousand nine hundred and six | Five thousand and sixty-four | Five thousand one hundred and fifteen | +51 | +1.01% | Yuan / ton |
One thousand nine hundred and nine | Five thousand one hundred and thirteen | Five thousand one hundred and eighty-five | +72 | +1.41% | Yuan / ton | |
EG06-09 | -49 | -70 | -21 | -42.86% | Yuan / ton | |
Basis | -139 | -165 | -26 | -18.71% | Yuan / ton | |
Mainstream reservoir area | delivering amount | Four thousand and nine hundred | Four thousand and nine hundred | Zero | 0% | ton |
Section | Half light | Seven thousand and nine hundred | Seven thousand eight hundred and fifty | -50 | -0.63% | Yuan / ton |
filament | POY150D/48F | Eight thousand and four hundred | Eight thousand and four hundred | Zero | 0% | Yuan / ton |
FDY150D/96F | Nine thousand three hundred and fifty | Nine thousand three hundred and fifty | Zero | 0% | Yuan / ton | |
DTY150D/48F | Ten thousand two hundred and fifty | Ten thousand two hundred and fifty | Zero | 0% | Yuan / ton | |
Spun | 1.4D direct spinning | Eight thousand and eight hundred | Eight thousand seven hundred and seventy-five | -25 | -0.28% | 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-six | Forty-five | % | ||
Spun | Thirty-five | Forty | % | |||
Section | Thirty | Thirty-five | % | |||
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 for January will be released in the morning. | |||||
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". | ||||||
industry | February 20th | February 21st | change |
PTA | 86.91% | Eighty-six point four one | -0.50% |
polyester | 84.16% | 84.43% | +0.27% |
Direct spinning filament | 87.76% | 88.64% | +0.88% |
Jiangsu and Zhejiang looms | 54% | 58% | +4.00% |
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