This is the newest quote price of PTA:

Recently,prices of PX and crude oil continued to rise, to a certain extent, it gives strong support for the cost of PTA.There is a certain boost to the spot market, but due to the slowdown in the downstream polyester operating rate, downstream demand has shrunk slightly. PTA spot market transactions is not very good, so the spot gains less than PTA futures. Thus the basic gap dropped from the beginning of 250 yuan / ton to -50 yuan / ton.

The reasons for the recent PTA higher prices are sundry, but the most important is the cost price increasing. Followed by the good fundamentals support.

Firstly, influenced by the sharp rise in international oil prices, the upstream PX price continued to rise. Therefore, under the influence of cost,prices of PTA continued to rise. Secondly, due to the overhaul of some devices, the PTA start-up load dropped and the phased demand increased. PTA inventories continued at a low level, lower filament stocks also low, the market warehouse receipts also dropped significantly. Therefore, to some extent it also limits the decline of PTA price in space.

In the first quarter, PTA will be in the accumulative storage phase due to the investment in new and old PTA plants and the concentrated parking drop of Polyester Spring Festival. However, as PTA inventories were almost depleted in 2017, the significant accumulation of PTA inventories in the first quarter has not yet brought significant pressure to the market. However, due to the availability of PTA before and after the Spring Festival is still relatively adequate, the downstream polyester factories continue to cut prices.Production and sales of polyester are low, the eve of the Spring Festival rigid market demand decline,which have a certain impact on the market.