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PTA Opened High In Early Trading And Continued To Lose Power.

2010/12/7 14:13:00 48

Market review:

Today,

PTA

Early opening high, but continue to flush high performance, the overall performance of the day is low concussion.

The main contract 1105 opened at 9600, the highest 9666 in the day, the lowest 9536, ending in the 9576, compared with the previous day average price rose 74 yuan / ton, or 0.78%.

Trading within days reduced to 371824 hands, holding 4070 to 170816 hands.

Upstream raw materials:

WTI rose 1.19 to 89.19 U.S. dollars / barrel, a new high in 08 years since October 7th; naphtha rose 5 to 834-839 dollars / ton CFR Japan; heterogeneous MX rose 25 US dollars to 1018-1019 U. S. dollars / ton FOB Korea; Asia PX fell 6 US dollars to 1263-1264 U. S. dollars / ton FOB Korea, Europe steady at 1190-1194 U.S. dollars / ton FOB Rotterdam, the United States steadily in 1213-1218 dollar / ton FOB Bay.

Crude oil continued to soar last Friday, while naphtha and MX rose.

PX price

On the contrary, it fell slightly, and the processing profit of the calculated PTA rose to nearly 1400 yuan / ton level.

At present, the price of PX raw materials has little support for PTA.

However, the continuous rise of crude oil prices is of great significance for stabilizing the mindset of PTA and downstream polyester market.

Downstream market:

Today, the production and sales of polyester and silk products in Jiangsu and Zhejiang provinces continue to be good for the weekend.

Shipment

Relatively smooth, most of the 100%-150%, some factories are higher than 200% or above, the local lower is 6-8.

The quotation of direct spinning polyester and short factories in the early market is generally stable, and individual low quotations factories have raised 100 yuan / ton, and the quotas for pre factory prices of individual factories have begun to fall.

Due to the strong performance of the external market, the enquiry atmosphere of direct spinning polyester and short market is acceptable, and turnover has improved slightly.

Comprehensive comment:

Recently, the rebound of crude oil and cotton prices is very important for stabilizing the mentality of every link in the polyester industry chain.

At present, the demand for PTA is expected to last for some time due to the lack of inventory pressure on polyester links, especially the demand for short staple replenishment.

At the end of the week, the shipment of downstream polyester products was good, some products prices stabilized, and the market mentality began to stabilize.

However, supply and demand side, loom load continues to decline, indicating that the terminal demand continues to shrink, some enterprises have completed the current order after the early parking plan, before the year, downstream demand is difficult to improve.

In addition, although some recent downstream enterprises try to buy in the market, some enterprises need to go up at the end of the year, and generally do not take the initiative to raise prices.

On the supply side, the load of PTA has returned to 99% level, and the supply of downstream polyester contract goods is abundant. The enthusiasm of polyester enterprises to purchase PTA in the market is obviously lower than that in the early stage, and the supply and demand side of PTA gradually relaxed.

Therefore, the fundamentals do not support the rapid rise of PTA prices in the near future. Last week, the PTA main contract futures price encountered an important supporting position when it fell to around 9200, and began to rebound. But after a 4 Day rally, the current PTA main period price is close to the upper resistance level, and the upper space is limited. Today, the 30 day average is suppressed more obviously.

It is expected that in the near future, PTA will be dominated by interval shocks.