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PTA Futures: Fundamentals Are Good; &Nbsp; PTA Shocks In The Afternoon.

2010/8/4 21:04:00 79

Zhengzhou PTA futures opened early in August 4th, and the afternoon shock rose.

The main 1101 contract

The opening quotation

7730/ tons, the highest 7798 yuan / ton, the lowest 7702 yuan / ton, closing 7754 yuan / ton, compared with the 3 day settlement price rose 14 or 0.18%, turnover 582500 hands, holds 205382 hand.

In terms of disk, PTA futures today rose slightly.

The market will pay close attention to the domestic macro economic data in early August.

With the coming of the peak season of consumption, the risk of PTA futures falling sharply again has been greatly reduced, but there is short-term adjustment pressure.

Technically, the 1101 contract has a strong resistance in the short range of 7800 - 7950 yuan / ton.

On the upstream side, the market is worried that the pace of fuel demand will slow down as the recovery rate of the US economy is not enough.

New York business

Exchange (NYMEX) crude oil futures fell on the 4 day of Asia's electronic disk, down from the three month high.

Around 15:00 Beijing time, NYMEX9 month crude oil futures fell 0.45 U.S. dollars, to 82.1 U.S. dollars / barrel.

Crude oil futures prices have fallen for the first time since the five trading day, and Asian stock markets have fallen due to weaker US economic data.

US house sales data, factory order data and consumer spending data have raised doubts about the extent of recovery in the US economy.

In addition, according to the American Petroleum Association data, as of the week of July 30th, U.S. gasoline inventories increased by 2 million 310 thousand barrels.

It is expected that the US Department of energy report may show a decline in fuel and crude oil inventories in the US later in 4.

Serene Lim, a commodities strategist at ANZ, said investors were briefly withdrawn from the market due to weak economic data.

At present, the US driving season is just half past, and it is surprising that gasoline inventories are increasing.

Asian PX prices have rebounded from $830 / ton in mid July to US $900 / ton, while domestic

PTA

Spot prices have risen to 7250 yuan / ton.

According to the current price, PTA production profit is still above 1000 yuan / ton, at a relatively high level.

Therefore, the supporting effect of PX price increase on PTA has not yet been reflected.

In the 5 and June after the peak of consumption in spring, the PX imports were relatively poor in China, and imports in the 7, 8 and September would normally rebound.

Asia's p-xylene market closed up 41 U.S. dollars / ton on Tuesday, FOB Korea closed to 924-927 U.S. dollars / ton, CFR Taiwan closed to 940.5-941.5 U.S. dollars / ton.

Downstream polyester polyester products market prices remain strong, the PTA spot market atmosphere is better, businesses have the mentality of selling.

The seller's offer in the domestic material market is expected to reach 7300 yuan / ton, and the actual negotiation is near 7300 yuan / ton. The outside market is talking about the shift of the center of gravity, and a small offer for Taiwan goods has risen to 890-895 US dollars / ton. The firm offer is at 885-890 US dollars / ton, and the Korean shipment is quoted at 870 US dollars / ton, and the firm offer is in the range of 860-865 US dollars / ton.

PTA manufacturers' inventories are low, and in August, the listing price was 7350 yuan / ton.

In general, the PTA market is basically in good shape, and the upward trend has not changed. In the short term, a small adjustment is expected.