Weekly Report: PTA Futures (29th Aug-2nd Sept)
Author: Sep 13, 2011 08:11
PTA Market Review
This week, PTA futures price keeps increasing. By Friday, PTA futures main contract 1201 in China is settled at 10172CNY/t, which was 156CNY/t increased in compare with that of last Friday, the increase amount is 1.56%.
On spot goods, PYA price continue to increase. By Friday, PTA quotation in China market increased to 10550CNY or so, rising 350CNY in compare with that of last Friday, its increase amount is 3.43%. Taiwan cargo price increased $45 to $1345, its increase amount is 3.46%, and Korean goods price increased to $1330, rising $40 and its increase amount is 3.1%.
Upstream and downstream market price analysis
Crude oil price rise and fall sharply at the beginning of the week. On Monday, New York Commodity Exchange Oct delivery futures price slumped $86.45, its drop amount is 2.79%. Then its price comes to stably fluctuate, while on Thursday, its price jumped up again. On the general, by Friday, its price is settled at $89.05/bbl, add up to $0.12 increased totally, its increase amount is 0.13%, Brent oil Oct futures price is settled at $114.55/bbl, totally increased $0.26, its increase amount is 0.23%.
MX, napthia prices are mainly increasing. Asian MX price increased $16/t to $1371/t, FOB Korea, its increase amount is 1.18%. Napthia price increased $7 totally, to $983/t, CFR Japan. PX price is also boosted up by its tight supply, Asia PX price increase $33/t totally to $1715/t, FOB Korea, its increase amount is 1.96%. European PX price is fluctuating around $1596-1600/t, FOB Rotterdam.
On downstream, polyester products price is mainly upward, among which, PET bottle chips price increased to 400CNY/t to 13600CNY/t, its increase amount is 3.03%, semi-bright chips mainstream quotation increased to 13100CNY/t, totally increased 400CNY/t; poly staple yarn price increased simultaneously, the 1.4D semi-bright staple yarn mainstream 13700-13900CNY/t, increased 300CNY/t, comparing with that of last Friday.
Aftermarket outlook
See from the overall polyester industry chain, both upstream and downstream situation is good. Upstream PX is short supplied for the influence of device checking and repairing. Downstream production and marketing rate is high, low inventory, and buyers buy in actively, in addition with the traditional busy season in September and October, polyester industry chain demand will further increased. See from which, PTA price is likely to increase aftermarket.
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Editor: Candy From: 168Tex.com
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