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PTA Market Overall Weak &Nbsp; 16 Continue To Shock

2010/11/16 16:42:00 58

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PTA Market Continues To Oscillate As A Whole

Zhengzhou PTA futures continued to plummet on the 15 th.

The main 1105 contract closed at 9914 yuan / ton, down 686 yuan or 6.47%.

The PTA continues to be weak because of market concerns that the government has tightened liquidity and reduced downstream purchases.

In addition, the sharp drop in spot and the sharp fall of cotton also have negative impact on the market, and the PTA adjustment has not yet ended.

However, in the late period, when crude oil entered the peak season of heating oil consumption, liquidity is still abundant and the fundamentals of the industrial chain are still in good condition, PTA's downward adjustment space is limited.

Overnight crude oil closed basically unchanged, PTA or continued adjustment.

The New York Mercantile Exchange (NYMEX) crude oil futures were basically flat on the 15 day, as the latest economic data showed that the US recovery was mixed.

NYMEX crude oil futures clearing price fell $0.02 in December to $84.86 a barrel.

ICE Brent crude futures rose by 0.36 US dollars to 86.70 US dollars, or 0.4%.

Later this week, traders will turn their attention to the weekly oil and fuel inventory report released by the US Department of energy.

Because

The near future

Stock levels have been above average, forcing crude oil prices to fall, but the US energy department's report last week showed a sharp decline in crude oil inventories, suggesting that stock levels have reached the top.

Data, the Commerce Department announced 15,

U.S.A

Retail sales increased by 1.2% in October.

Economists predicted that retail sales in the United States increased by 0.8% in October.

Data show that retail sales in the US grew sharply in October, exceeding market expectations, boosted by the strong performance of vehicle sales and the strong spending of various commodities on the arrival of holiday shopping season.

But the manufacturing survey released by the Federal Reserve Bank of New York on 15 May showed that manufacturing activities in New York deteriorated in November, and the manufacturing activity index for the first time fell to below zero since mid 2009.

Suggesting that the US economic recovery is weak.

On the 12 day, the closing price of Asian PX was 1222.50-1223.50 USD / ton FOB Korea, 1222.50-1223.50 USD / ton CFR Taiwan, the price fell by 121 US dollars compared with the previous day.

Spot market, though PTA futures are in the market again

Limit down

However, due to the rapid decline in spot prices last week, the downward adjustment began to narrow after entering this week, and the market began to temporarily return to rationality in the short term.

On the inside side, after the opening of the morning, part of the spot reported 9800-10000 yuan / ton, although the opening buyers accepted the wait and see, but the overall atmosphere of the market was better than Friday, panic selling was not much, some of the counter offer was in the range of 9300-9500 yuan / ton, but the overall turnover was still not high.

Downstream market, polyester chip market is still in wait-and-see period, market confidence awaits further recovery.

Most of the factories in Xiaoshao District dropped the mainstream price of semi optical chips to 13000 yuan / ton cash or near March acceptance. The price of individual second-line brands in Jiangsu was 11800 yuan / ton. The actual turnover in the market is still dominated by wait-and-see. There is no clear price yet, and confidence in the downstream has not yet been restored.