20 Jun PX/PTA/MEG Daily news at China– 6/20/2018
FOB Korea $935, FOB Rdam $925, FOB China mainport $954
Domestic PTA market continued to move forward in weakness, and polyester producers bought some goods. Discussions for major PTA spots were 50‐70 yuan/ton higher than PTA futures TA1809, and some deals were done at 5,630‐5,646 yuan/ton self‐lifting in afternoon session.
Central PX values moved down somewhat today, and central values in USD‐based PTA market weakened slightly as well. Offers for bonded goods on one‐day trip were maintained at $850‐855/ton, and central discussions for nearby‐month cargoes stood at $845‐850/ton.
Domestic MEG market declined continuously. Spot deals were talked at 6,760‐6,780 yuan/ton, and H2, July deliveries were basically flat from spot numbers.
USD‐based MEG market fluctuated in a small range this afternoon. Major offers for nearby‐month cargoes were around $885/ton, and counter offers slightly lower than $880/ton, with discussions at $880/ton or slightly higher.