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Upstream Support Is Still Hard To Maintain &Nbsp; PTA Rebound Space Is Limited.

2011/5/27 13:54:00 31

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Zhengzhou PTA futures are on the 26 day. The main 1109 contracts closed at 9694 yuan / ton, up 186 yuan / ton. At present, the upstream support is hard to maintain, while downstream production and sales have improved, but the support is not strong enough.

domestic

CPI dimension

At a relatively high level, the empty atmosphere has not yet dissipated. In addition, the downstream enterprises will reduce their demand due to the restriction of the movie industry. In June, the new domestic production capacity will be gradually put into operation, and the PTA up space will still be limited.

Overnight crude oil and US cotton have all been lowered, and space is expected to be limited above PTA in the near future.

The New York Mercantile Exchange (NYMEX) crude oil futures closed lower on the 26 th. The disappointment of the US market due to GDP and employment data prompted investors to worry about the decline in oil demand. However, the weakening of the US dollar and the rise in gasoline futures limited the decline in oil prices.

NYMEX July light crude oil futures contract settlement price fell 1.09 U.S. dollars, to 100.23 U.S. dollars per barrel, or 1.1%; NYMEX June RBOB gasoline futures contract settlement price rose 3.21 cents, at 3.0483 U.S. dollars per gallon, or 1.1%.

Intercontinental Exchange (ICE) cotton futures closed down on the 26 day, ending the "two rally" rally, as investors made profits.

dealer

The fund's opening may further pressure the market, he said.

Asia PX fell 6 US dollars to 1485-1486 U.S. dollars / ton FOB Korea, Europe steady at 1544-1548 US dollars / ton FOB Rotterdam, the United States stabilized at 1568-1573 US dollars / ton FOB Gulf of America.

Spot: East China

PTA spot

The market quotation rose to the level of 9750 yuan / ton, and some buyers were low enquiry. The actual negotiation was at the level of 9650-9700 yuan / ton, and the market was scarce.

The outward market traders' intention to increase shipments increased, and Taiwan's production quotas stabilized at $1210 / tonne, and the talks started around 1205 US dollars / ton. Korean products negotiated close to $1200 / ton, and downstream factories had a more cautious attitude.

Downstream market, polyester and silk production in Jiangsu and Zhejiang is better, most 100-150%, a small number of higher 200% or so.

Most of the short selling quotas of polyester and short factories are stable, and the quotation of individual factories in Jiangsu market is tentatively raised by 100 yuan.

After a small replenishment in the early stage, the market is still on the market. Generally speaking, the market volume of the Jiangsu and Zhejiang market is 12650-12700 yuan / ton, with a partial low of 12600 yuan / ton.