22 Jun PX/PTA/MEG Daily news at China– 6/22/2018
FOB Korea $928, FOB Rdam $910, FOB China mainport $947
Domestic PTA market softened a bit. Discussions for major PTA spots were 60‐70 yuan/ton higher than PTA futures TA1809, and some deals were done at 5,647‐5,680 yuan/ton self‐lifting in afternoon session. Warehouse goods changed hands at 5,655 yuan/ton.
Central values in USD‐based PTA market held stable. Offers for bonded goods on one‐day trip remained at $845‐850/ton, and bids for nearby‐month cargoes were at $820/ton and below, with offers at $840/ton and above.
Domestic MEG market went range‐bound. Spot deals were talked at 6,790‐6,820 yuan/ton, and H2 July deliveries were basically flat from spot numbers.
USD‐based MEG values moved sideways. Major offers for nearby‐month cargoes were slightly above $885/ton, and bids were at $880/ton, with discussions at $885/ton for prompt, while forward month cargoes were talked with 5 yuan/ton discount.