The PTA Stock Market Was Basically Stable On August 8
Compared with the futures market, the PTA spot market was relatively stable, with the highest price increase of 345 yuan/ton in the market, but the continuous price rise also made the purchasers unable to accept. On August 8, the spot market offered 7,300 yuan/ton, and the transaction price was 7,270 yuan/ton. Due to the reduction of social inventory, various refineries are still under maintenance, and the PTA spot market is also sold at a high price. The buyer is rational, and the transaction price is always lower than the quotation.
On August 8, nymex west Texas light oil for September 2018 settled at $66.94 a barrel, down $2.23, or 3.2%, from the previous session, trading in a range of $66.32 to $69.37. Ice brent 2018 October futures settled at $72.28 a barrel, down $2.37, or 3.2 percent, from the previous session, trading between $71.65 and $74.87.
Crude oil prices fell, which will affect the price of PX, easing the trend of the PTA market to continue to rise.
According to the report, since late July, as raw material prices continue to rise, the polyester industry chain upstream and downstream currently has the potential of game, on August 4, take the lead in tongxiang warp knitting chamber of commerce issued production in suzhou, followed by August 6, wujin, haining, tongxiang city, changshu also issued a joint production of warp knitting industry chamber of commerce in suzhou, maqiao warp knitting industry association issued a circulate petitions the leading enterprises in the upstream chemical fiber. For a while, a number of national economic and trade enterprises to stop production, price resistance behavior of the market attention.