PTA Is Weak In The Face Of Macroeconomic Weakness.

Zhengzhou

Futures on the 22 day weak and low, the main contract 1209 closed at 8144 yuan / ton, down 76 yuan / ton.

Affected by the European debt crisis and the weakening of the US economy, China's textile and clothing exports are still in the adjustment trend, and the slowdown in the domestic economy has also led to the continued decline in domestic textile and clothing consumption.

PTA downstream polyester products are still in a loss, and no improvement in the terminal market, the recent weak adjustment is expected.

Crude oil futures prices on the New York Mercantile Exchange (NYMEX) rose on Monday and rose decisively in the last hour before closing. The reason for the increase was due to a low buying rate after a sharp fall of 3.8% in the previous trading day.

The delivery of light crude oil futures in July rose 75 cents to $83.98 a barrel, or 0.9%, and failed to break through $84 a barrel.

The start up rate of the Jiangsu and Zhejiang slice spinning base is currently down to about 4, and the Shaoxing Shaoxing boot rate is 4-5, the Zhuji market is 3, the Cixi market is 2-3, the Jiangsu Changshu slicing spinning rate is 4, Taicang is slightly higher.

Commodity slump, sliced spinning due to serious loss of funds, tight cash flow, sliced spinning mentality is pessimistic, overall slicing spinning rate at least 30% lower than the same period last year.

The price of downstream polyester products is also weak.

The price dropped by 4% in May, and the average price of all kinds of filament fell by about 6%.

Demand side, terminal textile enterprises operating rate for a long time at around 60%.

The whole polyester market has formed a pattern of "lack of support and lack of demand". The market is pessimistic and the prospects for terminal textile enterprises are dim. The market generally believes that the price of polyester will continue to decline.

Spot market, Zhengzhou PTA futures opened on the 4 day before closing down, the main contract 1209 contracts received 7300 yuan / ton, down 86 yuan.

Over the weekend, US non farm employment increased by only 69 thousand, significantly lower than expected. The increment is the lowest in the past year.

The news suppressed the commodity market and international oil prices crashed.

Asian PX market also fell sharply, PTA cost support almost collapsed.

Domestic downstream demand is still weak, and the prospects for terminal textile enterprises are dim.

Today's market shows that the PTA price declines will continue.

PTA is expected to be dominated by a weak pattern in the near future.