On January 27, the mainstream CFR China PTA price in the overseas market remained at USD 659/ton, down by USD 18/ton compared to the price on January 26. PriceSeek's analysis of PTA indicates a bearish score of -1.5. The report states that on January 27, the mainstream CFR China PTA price in the overseas market fell by USD 18/ton to USD 659/ton, a decline of approximately 2.7%. This suggests an oversupply or weak demand in the spot market, exerting significant downward pressure on PTA spot prices. PTA futures data show that prices across all contracts generally declined. For instance, the main contract 2605 closed at CNY 5,258/ton, down by CNY 126, with a settlement price of CNY 5,304/ton. Open interest decreased by 135,778 lots, indicating strong bearish sentiment in the market and clear signs of capital outflow, further reinforcing the downside risk in futures prices. The score of -1.5 reflects the substantial price decline and simultaneous weakness in the futures market. However, as it does not reach the level of an extreme event, it falls within the range of moderate to significant bearish factors.
Comments
0