January 17Th Market Morning Post: PX Pessimistic Atmosphere Heavy Price Narrow Decline

1. yesterday's market situation

Yesterday (January 16, 2019) Asian PX prices decreased by 4.75 US dollars / ton and US $4.42 / ton to US $1069.67 / ton CFR Taiwan / China and 1050 FOB / ton Korea respectively.

International oil prices continue to rise, but the US crude oil output has a new high impact, and the increase is limited.

The PTA market is coming to an end by the downstream purchase, and the night market futures are weak.

The PX inquiry atmosphere is general, the pessimistic atmosphere is heavy, and the price is narrow.

International oil prices continue to rise, but the US crude oil output has a new high impact, and the increase is limited.

The PTA market is coming to an end by the downstream purchase, and the night market futures are weak.

The PX inquiry atmosphere is general, the pessimistic atmosphere is heavy, and the price is narrow.

Upstream market

(1) 1/16 closing: the US crude oil inventories are exceeding the expected decline and the OPEC actively promotes the reduction of production. The international oil price continues to rise, but the US crude oil output has reached a new high, which has raised market worries and suppressed the increase.

WTI52.31 US dollars / barrel, up 0.20 US dollars / barrel; Brent 61.32 US dollars / barrel, up 0.68 US dollars / barrel.

China's SC main force rose 1903 to 2.8 yuan / barrel to 419 yuan / barrel.

(2) naphtha: in January 16th, the current price of naphtha in Japan was 497.5 US dollars / ton, up 13 US dollars / ton compared with the previous trading day, and the current price of naphtha in Singapore was 53.23 US dollars / barrel, up 1.76 US dollars / barrel compared with the previous trading day.

2. short term forecast

The PX market is expected to be vulnerable today.