The General Idea Of PTA Can Still Be Shocked And Strong.
Zhengzhou PTA futures reduced trading on 25 days. The main 1105 contract closed at 11446 yuan / ton, down 140 yuan / ton.
Domestic central bank tightening monetary policy continues to suppress the market, but the high price of crude oil and PX will limit the PTA adjustment space. In addition, with the coming of the traditional textile peak season and the improvement of the loom operation rate after the Lantern Festival,
PTA
The overall train of thought can still be strong.
Last Friday, cotton prices were strong on the outside side, and PTA's downtrend is expected to be limited.
The New York Mercantile Exchange (NYMEX) crude oil futures closed higher on the 25 th, and the settlement price was close to $98 a barrel. The oil market continued to pay attention to Libya's violent clashes.
The New York Mercantile Exchange's April crude oil futures contract settlement price rose 0.60 US dollars to 97.88 US dollars per barrel.
Oil prices rose 14% on the 25 day of the week, and the trading oscillation was affected by the interruption of oil production in Libya.
However, the trend of oil prices was relatively mild on the 25 day.
Although investors in the oil market are still nervous about Libya, analysts say the measures taken by Saudi Arabia or IEA to remedy the supply gap may help ease the recent surge in prices.
Intercontinental Exchange (ICE)
cotton
After a week's sell-off, futures closed on the 25 day with speculative buying and strong export data from the US.
ICE cotton futures closed up 7 cents in May, closing at 1.8423 U.S. dollars / pound.
On the 24 day, the closing price of Asian PX was 1654.50-1655.50 USD / ton (FOB Korea); 1674.50-1675.50 USD / ton (CFR Taiwan), the price fell by US $2 compared with the previous day.
On the spot, the PTA market in East China is mild, and PTA futures continue to go down.
Goods in stock
Around 11450 yuan / ton of odd offer, the intention of factory delivery is near 11300 yuan / ton, and the market discussion center is launched near 11350 yuan / ton.
The Asian PTA spot market is dull, and futures continue to decline. Taiwan's offer is at $1480 / ton, and enquiries are limited. It is expected that the intention of negotiation is $1470-1475 / ton, and that of Korean goods is 1460-1465 dollars / ton.
Downstream, last week, the price of polyester and short in Jiangzhe market dropped 200 yuan to 15000 yuan / ton, polyester POY rose 400 yuan to 14700 yuan / ton, polyester chip price rose 150 yuan to 13600 yuan / ton.
By Thursday, the loom operating rate in Jiangsu and Zhejiang provinces was around 65%, and has recovered to its level in early December.
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