January 15Th Market Morning Post: Polyester Market Demand Slowdown PX Prices Or High Stability
1. yesterday's market situation
Yesterday (January 14, 2019) Asian PX prices rose 2 US dollars / ton to US $1071 / ton CFR Taiwan / China and 1051 US dollars / ton FOB Korea.
The optimistic expectations of Sino US trade negotiations weakened, and international oil prices continued to fall.
The demand for polyester Market slowed down, and the PTA spot market remained stable and narrow.
The negative factors in the field increased, and the atmosphere of PX inquiry declined.
Upstream market
(1) the closing of 1/14: the optimistic expectations of Sino US trade negotiations weakened, coupled with the poor economic data, and renewed worries about demand, and international oil prices continued to fall.
WTI50.51 fell 1.08; Brent 58.99 fell 1.49 dollars / barrel.
China's SC main force fell 1903 to 4 yuan to 419.7 yuan / barrel.
(2) naphtha: in January 14th, the current price of naphtha in Japan was 489.75 US dollars / ton, which fell by 13.5 US dollars / ton compared with the previous trading day. The current price of naphtha in Singapore is 52.05 US dollars / barrel, which is 1.5 US dollars lower than that on the previous trading day.
2. short term forecast
PX prices are expected to stabilize at a high level today.
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