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PTA market extends downtrend under pressure

Author: CCFGroup.com     Time: Aug 8 2019 11:29AM

PTA price decline has widened since late July with price down from around 6,300yuan/mt to around 5,100yuan/mt. The basis (futures-spot spread) has dropped from 400yuan/mt premium to 30yuan/mt discount. The PTA-PX processing spread has dropped rapidly from 2,400yuan/mt to 1,000yuan/mt, while the cash flow of POY has risen from 200yuan/mt to 800yuan/mt. ...
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