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Daily Release | Time:Jul 11 2018 4:13PM
PTA market daily (Jul 11, 2018)
 
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PTA Spot
Product Trade term Price Change
RMB by cash, ex-works 5980yuan/mt -30
USD
PTA CFR China L/C 90 days $850/mt 0
China-made bonded PTA, ex-CMP $845/mt 0


Supplier news
Hengli released PTA RMB offer at 6,000yuan/mt and USD offer at $850/mt, unchanged day on day. Yisheng offered PTA flat at $855/mt.

Market Review
PTA market declined in the morning. Offers for prompt cargoes were mainly posted at TA1809+95yuan/mt and the bids were at TA1809+75/80yuan/mt. Some PTA producer in Jiangsu offered at TA1809+65yuan/mt. Offers for warehouse receipt were at TA1809+70yuan/mt and the traded prices were at TA1809+65yuan/mt. Prompt goods were traded at 6,035-6,044yuan/mt, ex-works in night trading and 6,010yuan/mt in the morning. The warehouse receipt was traded at 5,957yuan/mt. PTA market shivered in the afternoon. Some polyester producers purchased on the market. Trading mood was better then yesterday. Mainstream traded prices were posted at TA1809+80/100yuan/mt. Some brand (Jiangsu producer) was traded at TA1809+75yuan/mt. Warehouse receipts were talked at TA1809+65/70yuan/mt. Prompt goods were traded at 5990yuan/mt, ex-works.

PTA USD market changed little. The ship goods were offered at $860/mt, but the trading sentiment was plain.One-day trip PTA (China-made bonded goods) were offered at $850-855/mt.

Downstream
PFY sales were moderate today. The average sales ratio was assessed to 90% till 3:30 P.M. The sales ratios of major plants were at 70%, 100%, 150%, 20%, 100%, 90%, 40%, 100%, 80%, 150%, 80%, 90%, 20%, 35%, 140%, 120%, 140%, 80%, 180%.

Outlook
PTA market are now at a critical level. If the prices break through the previous high, the market may rush up. The tension between U.S. And Iran may directly trigger the skyrocket of crude oil if the Strait of Hormuz is closed. For PTA , fundamentals remains good, but the U.S.-China trade friction may keep the market in oscillations. In the short term, higher crude oil prices will bring PTA market up.

$1=CNY6.68

Note:
1. CCFGroup Daily price calculation covers trades from 4 pm yesterday to 4 pm today.
2. Trades done with the term of "delivered" will subtract the delivery fee (about 30yuan/mt) to accord with ex-works price for daily average price calculation.
3. PFY sales ratio was based on new orders. Delivery volume may be bigger than sales volume as plants were delivering previous orders.
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