January 11Th Quotes: PTA Price Shocks Are Expected To Be Adjusted In The Short Term

1. yesterday's market and Forecast:

Yesterday (January 10, 2019) PTA futures market high volatility, spot prices rose sharply, negotiating price of 6250-6320 yuan / ton. Crude oil continues to rise, PX rises with crude oil, and the cost side continues to support PTA. Downstream polyester production and marketing is good, polyester factory before going to continue to go to the main library, late polyester production, demand fell bad, is expected to PTA price shocks in the short term adjustment.

2. upstream market:

(1) crude oil: closing in January 10th: crude oil exports in the Persian Gulf region have declined, and the market remains optimistic about the OPEC reduction, and international oil prices continue to rise. WTI52.59 rose 0.23; Brent 61.68 rose 0.24 dollars / barrel. China's SC main force rose 1903 to 10.1 yuan to 422.3 yuan / barrel.

(2) on PX:1 10, the Asian PX market closed at 1038 US dollars / ton FOB Korea and 1058 US dollars / ton CFR China, up 16.83 US dollars / ton compared with the previous trading day.