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PTA Market Weekly (Dec 6-10 2010) |
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2010-12-13
| CCF Price |
| Spot |
|
6-Dec |
10-Dec |
Weekly Average |
Trend |
| PX |
FOB Korea |
1264 |
1332.5 |
1303.8 |
→ |
| CFR China/Taiwan |
1279 |
1347.5 |
1318.8 |
| PTA |
China domestic market (Yuan/mt cash, ex-ship) |
9260 |
9250 |
9236 |
→ |
| Tawan origin ($/mt CIF China L/C 90 days) |
1165 |
1163 |
1162.2 |
→ |
| Korea origin ($/mt CIF China L/C 90 days) |
1145 |
1143 |
1144.8 |
→ |
| Contract |
|
Sep |
Oct |
Nov |
Dec |
| PX |
Asia ($/mt CFR Asia) |
950 |
1025 |
1220 |
1275 |
| Sinopec (Yuan/mt, delivery) |
Offer |
7600 |
8800 |
10200 |
10200 |
| Settlement |
7900 |
9600 |
10150 |
N/A |
| PTA |
Foreign producers ($/mt CIF China L/C 90 days) |
910 |
1020-1025 |
N/A |
N/A |
| Sinopec (Yuan/mt, delivery) |
Offer |
7600 |
8400 |
10200 |
9900 |
| Settlement |
7700 |
8600 |
9900 |
N/A |
| Imports(kt) |
August |
550.5 |
September |
610.3 |
October |
489.85 |
| Operating rate (%) |
|
Nov |
3-Dec |
10-Dec |
| PTA plant |
90.5 |
99 |
93.5 |
| Polyester plant |
84.7 |
84 |
84 |
| PTA Inventory |
PTA plant |
0-4 days |
Polyester plant |
10-25 days |
 |
| Market Roundup |
PTA spot market continued to be weak this week, but the moving range narrowed. In early week, the trading sentiment enhanced as crude oil rushed up and sales ratio of polyester products recovered during the weekend. The offers once moved up to 9400yuan/mt and the talked prices were at 9250-9300yuan/mt. In import market, Taiwan origin goods were offered at $1175-1180/mt, while the bids from polyester plants were at $1160/mt. The transactions were concluded at $1165/mt with higher at $1170/mt. Korea origin goods were traded at $1145-1148/mt, and the buyers were reluctant to take in goods at $1150/mt.
In midweek, crude oil fell slightly and the sales of polyester products weakened further. Meanwhile, the wait-and-see sentiment was enhanced before the Nov economic data release, so the trading sentiment weakened. The traded prices dropped to 9150-9200yuan/mt in China domestic market. In import market, Taiwan origin and Korea origin goods were down to $1160/mt and $1140-1145/mt.
At the end of the week, the trading sentiment revived as PTA futures and stock market firmed. After some Taiwan origin goods were traded higher at $1160-1165/mt, the transaction level increased to $1165/mt or above. But the traders were not urgent in selling at current prices. Korea origin goods were discussed at $1145/mt and several deals were done lower at $1140/mt. It was heard one deal of Thailand goods was concluded at $1130/mt. |
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| Forecast |
| The market will keep consolidating in the short term. |
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