14 Jun PX/PTA/MEG Daily news at China– 6/14/2018
FOB Korea $965, FOB Rdam $931, FOB China mainport $984
PTA futures market retreated somewhat, while buying interest for PTA spots improved slightly. Offers for major PTA spots were 50-60 yuan/ton higher than PTA futures TA1809, and discussions for goods on warehouse receipts were 45-50 yuan/ton higher than TA1809. Some deals were done at 5,706-5,740 yuan/ton selflifting in afternoon session.
PX market was quiet today, and USD-based PTA market firmed up. Offers for bonded goods on one-day trip were maintained at $850-855/ton, and central discussions for nearby-month cargoes were kept at $845-850/ton.
Domestic MEG market was under correction. Spot deals were talked and concluded at 7,060-7,080 yuan/ton, and H2, July deliveries were flat from spot numbers.
USD-based MEG market was under fluctuation this afternoon. Offers for nearby-month cargoes were below $930/ton, and counter offers were at $920/ton or slightly higher, with discussions at $920-925/ton. Forward-month cargoes were $2-3/ton higher than nearby-month cargoes.