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January 31St Market Morning Post: In The Short Term, PTA Market Price Consolidation.

2019/1/31 10:47:00 22

Yesterday (January 30, 2019) the PTA futures market moved slightly upward, and the market discussed the price at 6480-6540 yuan / ton.

The US crude oil inventories increased less than expected today, the decline of the finished oil depots, resulting in the rise of crude oil, the PX also rose sharply, and strong support for PTA, but at present, the downstream polyester operation rate is 76.32%, and the production and marketing are light, leading to a weak demand for PTA.

PTA market price consolidation is expected in the near future.

industry	product	Area / unit	Previous price	Current price	Ups and downs	Ups and downs
crude oil	WTI	USD / barrel	Fifty-three point three one	Fifty-four point two three	+0.92	+1.73%
crude oil	BRENT	USD / barrel	Sixty-one point three two	Sixty-one point six five	+0.33	+0.54%
polyester	PX	CFR China (US $/ ton)	One thousand and fifty-nine point six seven	One thousand and seventy-three	+13.33	+1.26%
	PTA	Inner East China	Six thousand four hundred and fifty-five	Six thousand and five hundred	+45	+0.70%
	MEG	Inside Zhangjiagang	Five thousand and five	Five thousand and thirty-five	+30	+0.60%
	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 Federal Reserve announced that the stock market rose sharply, and the NASDAQ rose 2.2%.
	2, the Federal Reserve did not act as scheduled, deleted the phrase "further interest rate increase", promised to flexibly adjust the scale, and did not rule out the resumption of QE.
	3, the US ADP employment increased by 213 thousand in January, and the employment in manufacturing industry hit a new high of 6 years.
	4, the Central Bank of China will issue two central bank bills in Hongkong in February 13th.
	5, the Central Bank of China put another 50 billion in net interest rates.
prediction	In the morning, the official manufacturing industry, service industry and comprehensive PMI will be released in January.
prediction	In the afternoon, the euro area's four quarter GDP value and the unemployment rate in December will be announced. Amazon's earnings will be announced the next morning.