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Real-time News
On May 19, Hu Yuting, Deputy Secretary of the Jilin Provincial Party Committee and Governor of Jilin Province, visited China National Petroleum Corporation (CNPC) and held working talks with Dai Houliang, Chairman and Party Secretary of CNPC. Hu Yuting expressed his hope that CNPC would leverage its leading position in the industry, tap into Jilins advantageous resources, and further deepen practical cooperation in key areas such as green energy, fine chemicals, modern agriculture, and biomanufacturing. He encouraged CNPC to plan and construct gas storage facilities and peak-shaving power plants, actively participate in the construction of zero-carbon industrial parks, expand the large-scale application scenarios of green hydrogen, ammonia, and methanol, and promote cooperation between the two sides to a deeper, broader, and higher level. He stated that CNPC would fully support the rapid and effective implementation of the companys reasonable demands, provide excellent service and guarantees, and create favorable conditions for the company to grow and thrive in Jilin.WHO representative in Congo: Six tons of supplies will arrive today to help combat the Ebola outbreak, including personal protective equipment and medicines.Futures Market News, May 19th: I. Raw Material Market Updates: 1. On May 18th, NYMEX crude oil futures for June delivery rose $3.24 to settle at $108.66/barrel, while Brent crude oil futures for July delivery rose $2.84 to settle at $112.1/barrel. Naphtha fell $29 to $993/ton CFR Japan. 2. On May 18th, Asian isomeric MX rose $7 to $1092/ton FOB Korea. Asian PX rose $12 to $1200/ton FOB Korea and $1221/ton CFR China. 3. On May 18th, ethylene prices in Northeast Asia fell $40 to $1140/ton; prices in Southeast Asia fell $40 to $1190/ton CFR. 4. In the morning, PTA futures fluctuated weakly, and the spot market trading atmosphere was generally subdued, with the spot basis weakening. In May, offers at major ports were around 09+145~150, bids were around 09+140, and the price negotiation range was 6500~6580. Warehouse receipt offers this week were on 06-17 or 07-10, and bids were on 06-19. No transactions were reported in the morning session. In the afternoon, PTA futures fluctuated within a range, and the spot market negotiation atmosphere was generally weak, with the spot basis weak. May contracts at major ports were negotiated around 09+140~145. 5. In the morning, the domestic MEG market fluctuated narrowly, with generally weak market negotiations. Currently, the spot basis is around a premium of 105-109 to the 09 contract, with negotiations at 4844-4848. Several transactions were completed in the morning around a premium of 107-108 to the 09 contract. II. Downstream Dynamics 1. The overall production and sales of polyester filament in Jiangsu and Zhejiang were weak today, with the average production and sales estimated at around 40% by 3:30 pm. 1. Production and sales of several factories in Jiangsu and Zhejiang were as follows: 110%, 75%, 0%, 30%, 85%, 20%, 50%, 45%, 20%, 60%, 50%, 5%, 0%, 25%, 50%, 30%, 30%, 30%. 2. Sales of polyester staple fiber at factories were average today. As of around 3:00 PM, the average production-to-sales ratio was 56%, with some factories showing production-to-sales ratios of 80%, 30%, 50%, 60%, 50%, 70%, 60%, 100%, 30%, and 58%. 3. Semi-dull 1.4D direct-spun polyester staple fiber was priced at 8050-8300 RMB/ton ex-factory or short-distance delivery in Jiangsu and Zhejiang. In Fujian, the mainstream price was 8050-8300 RMB/ton cash on delivery. In Shandong and Hebei, the mainstream price was 8150-8400 RMB/ton delivered. 4. Today, the overall trading atmosphere in the polyester chip market was moderate, with some areas showing improvement. Semi-dull and bright polyester chips were mainly traded around 7400-7530 and 7540-7700 yuan/ton respectively. In the Jiangsu and Zhejiang markets, several semi-dull or bright polyester chips were traded at 7400, 7410, 7430, 7440, 7450, 7480, 7500, 7530, 7540, 7600, 7650, 7670, and 7700 yuan/ton for cash on delivery. 5. The trading atmosphere in the polyester bottle chip market was moderate today, with significant price differences between high and low prices. Orders for May and June were mostly traded at 8800-8900 yuan/ton ex-factory, with some areas slightly lower at 8640-8780 yuan/ton ex-factory and slightly higher at 8950-9250 yuan/ton ex-factory. Prices varied slightly depending on the brand. 6. Polyester bottle chip factories slightly lowered their export prices, with overall transactions mainly based on actual negotiations. In East China, mainstream bottle-grade PET chip manufacturers are negotiating prices ranging from $1175 to $1215 per ton FOB Shanghai port, with slight variations in some areas and differences depending on the brand. In South China, mainstream prices are negotiating prices ranging from $1170 to $1205 per ton FOB main port, with slight variations in some areas and overall discounts depending on the volume.Russian Defense Ministry: Russian troops have taken control of Volokivka in eastern Ukraine.A member of the Iranian Parliaments Development Committee stated that if war and confrontation occur, Iran has the capability to respond at the same level, or even more powerfully than the enemys preconceived notions.
