15 Jun PX/PTA/MEG Daily news at China– 6/15/2018
FOB Korea $972, FOB Rdam $938, FOB China mainport $991
Central values in domestic PTA market firmed up. Offers for major PTA spots were 50-60 yuan/ton higher than PTA futures TA1809, and offers for goods on warehouse receipts were 35-40 yuan/ton higher than TA1809. Some deals were done at 5,750-5,780 yuan/ton self-lifting in afternoon session. Central values in PX market inched up today, and USD-based PTA market kept firm. Offers for bonded goods on one-day trip were maintained at
$850-855/ton, and central discussions for nearby-month cargoes stood at $850/ton or slightly higher.
Domestic MEG market was under weak correction. Spot deals were talked at 7,050-7,070 yuan/ton, and H2, July deliveries were 10 yuan/ton lower from spot numbers.
USD-based MEG market firmed up this afternoon. Offers for nearby-month cargoes were near $930/ton, and counter offers were at $920/ton or slightly higher, with discussions at about $925/ton.