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February 1St Market Morning Post: PTA Price High Volatility

2019/2/1 10:37:00 22

Yesterday (January 31, 2019), crude oil continued to rise, causing domestic chemical futures to keep up, PTA futures market high volatility, spot prices also rose slightly, the market negotiated price of 6500-6610 yuan / ton.

Today's OPEC1 month cut production effect is remarkable, but the prospect of Sino US trade consultation is not clear, international oil prices are mixed, PX prices are still rising trend, continue to support PTA prices.

But the downstream is affected by the Spring Festival holiday, the market performance is dull, production and marketing is weak, prices are mainly stable, and PTA prices are expected to be high and volatile in the short term.

industry	product	Area / unit	Previous price	Current price	Ups and downs	Ups and downs
crude oil	WTI	USD / barrel	Fifty-four point two three	Fifty-three point seven nine	-0.44	-0.81%
crude oil	BRENT	USD / barrel	Sixty-one point six five	Sixty-one point eight nine	+0.24	+0.39%
polyester	PX	CFR China (US $/ ton)	One thousand and seventy-three	One thousand and eighty-seven	+14	+1.30%
	PTA	Inner East China	Six thousand and five hundred	Six thousand five hundred and forty-five	+45	+0.69%
	MEG	Inside Zhangjiagang	Five thousand and thirty-five	Five thousand and ninety	+55	+1.09%
	Polyester filament	POY150D/48F	Eight thousand four hundred and fifty	Eight thousand four hundred and fifty	Zero	0%
		FDY150D/96F	Nine thousand five hundred and fifty	Nine thousand five hundred and fifty	Zero	0%
		DTY150D/48F	Ten thousand three hundred and fifty	Ten thousand three hundred and fifty	Zero	0%
	Spun	1.4D direct spinning	Eight thousand and eight hundred	Eight thousand and eight hundred	Zero	0%
	Section	Semi optical section	Seven thousand and nine hundred	Seven thousand and nine hundred	Zero	0%
	Section	Bright section	Seven thousand and nine hundred	Seven thousand and nine hundred	Zero	0%
	Bottle flake	East China polyester bottle	Eight thousand and three hundred	Eight thousand and three hundred	Zero	0%
Focus News	1, the US stock market started 1987 to be best in January, the NASDAQ rose nearly 1.4% on a single day, and the offshore renminbi hit a new high in July last year.
	2, Amazon's year-end shopping season has been successful, but its profit growth engine has slowed down, its performance guidelines have been growing at a low level, and its share price has fallen by over 5% after its concussion.
	3, the GDP growth rate in the euro area has reached a new low of four years, and Italy is in a technical recession.
	4, China's official manufacturing PMI in January was higher than expected, but it was still below the withered line for second months in a row.
	5, the SFC will issue a new deal. QFII and RQFII will combine into one, expand investment scope and relax access conditions.
prediction	In the morning, China's PMI will be announced in January.
prediction	The US non farm employment report January and the ISM manufacturing index will be released in the evening.