21 Jun PX/PTA/MEG Daily news at China– 6/21/2018
FOB Korea $938, FOB Rdam $910, FOB China mainport $957
Domestic PTA market took weak note, with a few polyester producers picking up volumes. Discussions for major PTA spots were 50‐70 yuan/ton higher than PTA futures TA1809, and some deals were done at 5,615‐5,651 yuan/ton self‐lifting in afternoon session.
Central values in USD‐based PTA market trended down. Offers for bonded goods on one‐day trip dipped to $845‐850/ton, and bids for nearby‐month cargoes were at $810‐820/ton, with offers at $840‐845/ton.
Domestic MEG market firmed. Spot deals were talked at 6,780‐6,820 yuan/ton, and H2 July deliveries were basically flat from spot numbers.
USD‐based MEG values gained a mild rally. Major offers for nearby‐month cargoes were around $885/ton, and bids were at $870‐875/ton, with discussions at $875‐880/ton for near‐by month and $870‐875/ton for forward month.