August 7Th &Nbsp; PX Market Analysis This Week
After the previous week's continuous rise, the first three days of the week
PX
Prices continue to rise, and the momentum of the rise appears to be somewhat inadequate on Thursday, with a slight drop in prices.
At present, the spot price of CFR Taiwan is in the range of 920 US dollars / ton, and the spot price of FOB Korea has been maintained at 905 US dollars / ton, which has increased by 20 US dollars / ton compared with the price level a week ago.
The rise in PX prices this week is mainly driven by the rise in international crude oil prices. Recently, international crude oil prices have continued to be strong and support for petrochemical products is not small. The rise of PX is also formed in this market atmosphere.
Asia's leading PX this week
Supplier
This week, the contract price came out, which is $890 / tonne CFR, which was finalized by JX Nippon Oil and Japan's MITSUBISHI Mitsubishi (Mitsubishi Chemical). It is 7% lower than the forecast price of $960 / ton announced in July 23rd, indicating that the overall surplus of PX has not changed.
Of course, the price of PX in the early stage is in a state of decline for a long time.
From the downstream, the improvement of PTA market is still relatively weak. The state of PTA maintenance will still have an impact on the demand of PX, this week's PTA
Price
The rise played a role in improving the mentality of PX suppliers.
At present, the refinery has a fairly good profit and the installation rate is generally high, so the PX supply is adequate.
Combined with the factors of downstream production reduction, PX prices are expected to be slightly consolidated.
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