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The 14th China International Polyester & Intermediates Forum, organized by China Chemical & Fiber Economic Information Network (CCFEI) and Tecnon OrbiChem, is held at 9:00 a.m., 13 Jul, 2017 in Minya Hotel, Shanghai, China, with Yufeng Chemical Fiber Machinery as the sponsor. Zhengzhou Commodity Exchange and also provide us great supports. Leading players from home and overseas, including BP, Broad Group, CNOOC, Far Eastern Industry, Future Petrochemical, Hengli, Hengyi Petrochemical, Honam Petrochemical, ITG Holding, PetroChina, Reliance, Rongsheng, Sabic, Shuangtu, Sinochem, Sinopec, Tongkun, Xiangyu, Xinfengming, Yisheng Petrochemical, etc., are gathering to exchange ideas about the polyester chain. |
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The morning session of first day starts with Roger Lee, Managing Director, Tecnon OrbiChem, as the Chairman. Mr. Lee gives the opening speech: While supply-side reformation was making progress in China, FDE increasing interest rates sent global bulk stock commodity market into fluctuation. With industry integration going on, how will profit be distributed along the industry chain? |
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Wang Jun, Regional Director of Shanghai, Jinrui Futures presents the first speech of morning session, with the speech titled Macro-environment before China Economy Reaches the Peak. |
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Fluctuation Center of Crude Oil Pulled Down --Shale oil: New crude oil benchmark.Dong Dandan, Senior Researcher, Foresee Investment takes a review of how shale oil becomes new crude oil benchmark, with the conclusion that shale oil production pulled down fluctuation center of crude oil values. |
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After coffee break, Zhang Youding from Synthetic Fiber Division of Sinopec Chemical Products Sales Company talks about Polyester Industrial Chain Market in China in 2017. Mr. Zhang points to new characters of current polyester market, including balanced fundamental in near term, market length in long term and insufficient endogenous power in polyester industry. He predicts that growth on polyester demand will be kept at a low level of 4-5%, processing margins for all products in polyester industrial chain will shrink further, market will mainly fluctuate in H2, 2017, and will show a higher to lower trend through 2017. |
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Xu Zhiying from Global Service International S.R.L contributes analysis on Global PET Market Outlook and Pricing Trends, sharing his opinion about problems facing flake markets in China and Europe, and his forecasts about future price trends. |
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.Xu Zhilong, General Manager of Shengchun Investment Consultancy gives analysis on future PTA market trends, referring to status quo of PTA chain, room for PTA price drop and price corridor of the mass. |
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After lunch, Guo Xiangming, Business Manager of Zhengzhou Commodity Exchange brings us the Zhengzhou Commodity Exchange Session, in which guests shares their knowledge in operation of futures. |
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Wang Zongfang, Senior Manager of Zhengzhou Commodity Exchange introduces operation of PTA futures market, as well as the concept of Market Maker. |
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Zhou Zhou, Senior Manager of Singapore Commodity Exchange Limited introduces hedging operation between PX-PTA, in his speech titled Petrochemical Derivatives- Bridge between Domestic and Offshore Markets |
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Liu Jian, Senior Researcher from Xinhu Futures Institute talks about Analysis on hedging between crude oil and PTA, with crude oil futures expected to be listed this year. |
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Networking opportunity-Our special guests, including Han Yaojie from Kaifeng Investment, Dong Dandan from Foresee Investment, Javier Rivera from Tecnon OrbiChem together exchange ideas about industry highlights in H2 2017, such as:
Commodity perspective in H2 2017
Perspective of polyester market
How to utilize PTA futures to hedge spots risks
Perspective of PTA option and market maker
Highlights with downstream demand
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Above is the on-spot report for the first day sessions, and there will be more to come tomorrow. |
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