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Zhengzhou PTA Futures Market Shocks Rose Slightly More Fundamentals

2010/7/31 16:12:00 52

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Zhengzhou PTA futures opened lower in July 29th, and the final shock rose slightly.

Among them, the main 1101 contract closed at 7578 yuan / ton, up 30 or 0.4%.

PTA continued to rebound yesterday.

In the second half of the year, China maintained loose monetary policy to promote A shares to continue to rise and boost market sentiment.

In addition, the downstream polyester market has maintained a good momentum, and the PTA market has more fundamentals. Therefore, it is expected that the short term will be mainly shocks.

Upstream market, New York business

exchange

(NYMEX) crude oil futures 29 days higher settlement price, with the help of the weaker dollar, traders turned their attention to the US economic growth report to be announced on the morning of 30.

The New York Mercantile Exchange's September light crude oil futures clearing price rose 1.37 US dollars, or 1.8%, to 78.36 US dollars per barrel, which once rose to 78.89 US dollars in the session.

The ICE futures exchange Brent crude oil settlement price rose 1.53 US dollars to 77.59 US dollars per barrel.

In the morning, when the euro reached a 11 week high above the $1.31 against the dollar,

Crude oil futures

Go up.

But analysts said that all eyes of the oil market have turned to the second quarter gross domestic product (GDP) data of the United States, which will be announced at 8:30 a.m. Eastern time 30.

The oil market has been looking for a clear signal of the fate of the US economic recovery to predict the future of crude oil demand.

But economic data have been mixed with concern, which has led crude oil futures to settle between us $70 -80 US dollars for several weeks.

But crude oil futures fell out of the 29 day following the stock market volatility.

Asia's PX market has rebounded slightly in recent years.

PTA

The focus of the spot market has shifted slightly.

Squeezed by the cost and the double dip of spot price, the domestic PTA production profit has been reduced (roughly estimated at 1282 yuan / ton), but objectively speaking, it is still relatively rich. The production enthusiasm of enterprises has not been reduced at all, and the load of PTA factories has remained high.

The downstream industries are flat. The semi gloss polyester chip market in Jiangsu and Zhejiang provinces is dominated by horizontal plate finishing. The overall atmosphere is flat and weak. However, due to the recent decline in polyester raw material prices, the profit margins have been improved, and the start of operation has been stable. The market of polyester staple fibers has been slightly reduced, the low-end goods sources have gradually increased, buyers' attitudes are becoming increasingly cautious, the quantity of stocking is very limited, the polyester filament market is dominated by stalemate, and the production and sales of polyester factories have dropped, most factories are 6-8, and some of them are lower than 4-5.

With the further increase of summer air temperature, the impact of the power restriction policy on the downstream industry started to increase in Xiaoshao district. The production of power plants in Shaoxing area was limited by electricity and production. Some of the factories in Xiaoshan increased by 20%, which further reduced the consumption of upstream raw materials.

The PTA spot market is still strong. The price of the internal market merchants is 7100 yuan / ton, the actual negotiation is near 7050 yuan / ton, the external market is obviously reluctant to sell, Taiwan goods offer a small offer of 865 US dollars / ton, the real intention is 860 dollars / ton, the Korean cargo is quoted at 845 US dollars / ton, the firm offer is in the 835-840 US dollars / ton.

The price of domestic PTA producers in July was 7250 yuan / ton. In August, the listing price was 7350 yuan / ton, and the manufacturer's inventory was low.

Although the driving force of international oil prices has been rising, the market of polyester in the lower reaches has maintained a good momentum. The PTA market has more fundamentals. Therefore, it is expected that shocks will be the main factor in the short term.