Home >

Crown China Futures: PTA Main Shift Warehouse &Nbsp; Price Continues To Shock Upward.

2010/7/21 16:00:00 35

??? 日本語 Fran?ais English 中文

On Tuesday, Zhengzhou's TA main contract 1009 was 22 points higher than the crude oil rebound, and the lowest price in the intraday price dropped 7034 points. The subsequent price consolidation rose to 7108 points, and the second time rose again to 7106 points.

The turnover is 255 thousand hands, and the position is 182 thousand hands.

Fundamental analysis:

European Central Bank

Data released on Monday showed that after the seasonally adjusted eurozone in May, the current account deficit was 5 billion 800 million euros, and the fiscal deficit in April was 5 billion 600 million euros.

The National Association of home builders announced on Monday that the US housing builders' confidence fell by more than originally expected in July, due to the expiration of the tax benefits in April, to a low of one year.

Affected by this effect, the US dollar index has fallen again, and in the short term, the US dollar is likely to be bottomed out between 82-83 points.

By the United States

equity market

The impact of the rally was three days after the end of the crude oil futures. Although the data released by the American housing construction association were lower than expected, crude oil prices fell slightly.

Overnight, the New York Mercantile Exchange's crude oil futures contract closing price rose slightly in September to 0.56 US dollars to 76.90 US dollars / barrel, with a trading range of US $75.85-78.06 / barrel.

Market forecast API inventory data may continue to decline, the market demand for crude oil is still good, crude oil prices may again impact $80 / barrel.

Overnight Asian naphtha closed down again.

Although the Lichuan naphtha cracking center in South Korea bought 50 thousand tons of naphtha cargo in the second half of August, the market downturn made the paction the most serious selling of naphtha sales this year.

After the success of the paction, the demand for naphtha in the market will continue to decline.

While Japan's naphtha is high inventories, India continues to export naphtha, which once again weighs down the already depressed market for naphtha.

The Asian naphtha spot has fallen for three consecutive trading days to a week low, and the naphtha cracking price has dropped to its lowest level in 14 months.

The price of naphtha in Japan has slipped again by US $11 / ton.

Overnight, the global PX closing price rises and falls.

stay

Asian market

The price of PX in China was again suppressed, and the closing price of FOB Korea PX dropped 5 US dollars to 830-831 US dollars / ton, and the closing price of CFR PX of Taiwan dropped 5 US dollars to 845-846 US dollars / ton.

European PX market prices remain stable.

The closing price of PX in the US region rose sharply from crude oil price to US $16 to 884.5-889.5 USD / ton.

Asian PX market prices may rebound in the short term.

PTA spot market, Sinopec Chemical sales company June PTA settlement price of 7300 yuan / ton, July PTA listing price implementation of 7600 yuan / ton.

Affected by the rising atmosphere of the futures market, the spot price of PTA in the East China market also rebounded slightly. The total quotation for high quality PTA was 7050-7100 yuan / ton, and the downstream enterprises' enquiries were positively improved. The intention of the downstream enterprises was 6950-7000 yuan / ton.

Asian PTA market prices are also improving, Taiwan produced CFR China quoted price of 850-855 U.S. dollars / ton, downstream enterprises intent to purchase price of 845-850 U.S. dollars / ton, enquiries positive improvement, but the actual turnover is relatively light.

In terms of PTA industry chain, although the overall market of the polyester market is still dominated by wait-and-see, polyester prices are showing signs of stabilising. In the East China market, half light section cash or March acceptance price is 9100-9200 yuan / ton. It is expected that after the polyester market is likely to maintain consolidation, the price will rebound again.

In polyester market, the price of polyester is basically stable and the market atmosphere is general, which makes traders more cautious about price changes.

In the short term, the East China polyester market is likely to continue to maintain a volatile market.

To sum up, the rebound in crude oil prices may continue to stimulate the PTA price rise, but the sluggish spot market makes the price rise momentum obviously insufficient.

Short term price is likely to continue to maintain the upward trend of shocks, the price will likely hit the 7300 point again.

In terms of operation, there have been more than one single continuous holding, and the empty warehouse investors have built up more than 7300.