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PTA Opened Up And Down &Nbsp, And Rebounded Within Days.

2011/5/17 17:11:00 55

Market review:

On Monday, PTA opened high in the morning, and rebounded little during the day. Overall, it was dominated by concussion.

The main contract 1109 opened at 9456, the highest 9480 in the day, the lowest 9342, ending in 9392, compared with the previous day's average price fell 28 yuan / ton.

652384 hands traded during the day, holding 6316 to 201938 hands.

Upstream market:

WTI rose 0.68 to 99.65, Brent crude rose 0.85 to 113.83; naphtha fell 1 US dollars to 982-987 US dollars / ton CFR Japan; heterogeneous MX fell 5 US dollars to 1201-1202 U.S. dollars / ton FOB Korea; Asia PX stationary at 1505-1506 US dollars / ton FOB South Korea, Europe fell 1 US dollars to 1575-1579 dollar / ton FOB Rotterdam, the United States steadily in the US dollar / ton FOB Gulf of America.

Downstream market:

The mainstream factories in Jiangsu and Zhejiang are good at producing and selling polyester, most of them can barely make a flat or a little bit of 150-200%.

At the end of the week, the quotation of direct spinning polyester and short was lowered, and sales were slack.

In the morning of today, the price of the Jiangsu market is stable. The prices of some factories in Fujian and Zhejiang have been reduced slightly. The price of Sinopec's immediate guidance has been lowered at noon, and the atmosphere in the market is general.

Direct spinning

Short and short term continue to maintain a small discount to take the goods market.

Comprehensive comment:

Today, cotton is open high, maintaining high volatility during the day, but

PTA

But failed to take the opportunity to rebound, the performance is relatively weak in the day.

At present, the price of cotton and PTA 09 contracts are met with technical support at the low level in late November, and because of the reduction in production and supply gap in the last year, cotton and textile enterprises may be involved in 24000. On the one hand, replenishment of stocks and the cost of raw materials can also be shared. It is understood that the average stock price of raw materials in cotton enterprises is around 26000, and the losses of enterprises are larger.

Therefore, it is also common sense for cotton to rebound more vigorously.

But the form of PTA is not optimistic, because the production of PTA is continuous, so it is not as constrained by annual supply as cotton.

In the second half of the year, the new capacity of PTA will be put into production in large quantities. Recently, it is reported that the two sets of Yisheng petrochemical plant may be put into operation ahead of schedule in 6 and July, and the commissioning time of the PTA plant in the three Lane Lane is expected to be ahead of schedule.

PTA's recent performance will continue to remain weak, which is also in line with fundamental expectations.

Today, the downstream market has been able to perform well, especially filaments.

production and marketing

Things are better than before.

From the recent research, we can see that the sales of filaments are better.

However, the performance of staple fiber may be dragged down by cotton and continues to be weak.

If cotton can continue to rebound in the near future, or the demand for short fiber market will be promoted.

However, because the central bank's tightening monetary policy has a great impact on the enterprises, the market is still not confident enough, so there is no high expectation for the rebound.

Technically, PTA is in short order, and the upper 5 day EMA is suppressed.

1109 the contract has strong support in the 9400 front-line, and there may be a rebound in the short term.

However, the downward trend in the medium and long term has not changed.