January 14Th Market Morning Post: Cost Demand Double Bad, This Week PX Prices Narrowed Down Mainly
1. yesterday's market situation
On Friday, Asian PX prices rose 11.5 US dollars / ton to US $1069 / ton CFR Taiwan / China and 1049 US dollars / ton FOB Korea, the weekly gain of 98.33 US dollars / ton, and the increase of upstream crude oil and naphtha price.
Recently, the global oil storage pressure is too large, and the international oil price falls down.
Due to the cost pressure of downstream polyester enterprises, the spot price of PTA narrowed down, and the price was negotiated at 6250-6270 yuan / ton on Friday.
Upstream market
(1) 1/11 closed: after many days of continuous gains, traders made a profit and the global oil storage pressure was too large. In addition, the US dollar rose and international oil prices both fell.
WTI51.59 fell 1; Brent 60.48 fell 1.20 dollars / barrel.
China's SC main force rose 1903 to 1.40 yuan to 423.7 yuan / barrel.
(2) naphtha: in January 11th, the current price of naphtha in Japan was 503.25 US dollars / ton, which was 15.25 US dollars / ton higher than the previous paction price. The price of naphtha in Singapore area is 53.55 US dollars / barrel, which is 1.77 US dollars higher than the previous trading day.
2. short term forecast
It is expected that the cost demand will be double negative and the PX price will be narrowed down this week.
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