Mid Term Hospital: Fuel Demand Worries Linger On &Nbsp; PTA Shocks Upward

Market Review

Concerns about the slowdown in the global economic recovery and the potential to curb energy demand continue to cover the market, and international oil prices remain low overnight.

Affected by this, the main contract PTA of Zhengzhou business center opened 1009 today, opening 7152, the intraday price rose slightly, the highest 7186, the lowest 7094, the afternoon price continued to oscillate upward, and finally closed at 7180, compared with the previous trading day settlement price fell 36 points, or 0.5%, 376032 hands trading, holding 172796 hands.

Two.

1, the international crude oil price fell 8.5% in the past five trading days, the biggest weekly decline in eight weeks.

Affected by the World Cup football tournament, the euro area's retail sales and rebounded in May.

However, the eurozone June composite output index, which measures the activities of the private sector, dropped from 56.4 in May to 56. In June, the end of the service industry activity index dropped from 56.2 in May to 55.5, a three month low.

European stock markets fell for fifth consecutive trading days.

The above data indicate that there is still uncertainty in the process of economic recovery. Investors are worried that they will affect future energy consumption demand.

This is the main reason for the overall decline of NYMEX crude oil futures in Asia.

At present, the market is paying close attention to more data that has a bearing on the trend of the US economy.

The New York Business Futures Exchange (NYMEX) crude oil contract in August was $71.83 a barrel, down 0.31 from the settlement price of 72.14 last Friday, breaking away from the earlier low of $71.34, the lowest level since June 8th.

The deal is light because today is the Independence Day holiday.

In August, the Brent crude oil contract fell by $0.18 to $71.47 a barrel in London's ICE.

2, PX fell sharply compared with the previous day.

On the 5 day, the closing price of Asian PX was 834.50-835.50 USD / ton FOB Korea, 849.50-850.50 USD / ton CFR Taiwan, the price fell by 10 US dollars compared with the previous day.

3.

The export quotas of domestic water bottles remain unchanged. The factory quotes at 1170-1180 US dollars / ton FOB China's main port, and the mainstream talks are at 1140-1150 US dollars / ton FOB China's main port.

Han's bottle piece talks at 1150-1160 US dollars / ton FOB.

The market of PTA and MEG is more rigid. The adjustment of price is weak, and the volatility of fiber polyester is not big, but the weak tone has not changed.

Under the above background, today's East China Aquarius market is dominated by cross market, high price quotas are still down, the range is 100-200 yuan / ton, now the price is more than 9350-9700 yuan / ton, and the small and medium-sized mainstream can be negotiated at 9250-9500 yuan / ton (cash out or short delivery).

The staple market in Jiangsu and Zhejiang is in a low market.

Manufacturers lack of confidence, the current mainstream offer at 9500-9750 yuan / ton, negotiated near 9400-9550 yuan / ton.

The market wait-and-see atmosphere is strong, the buyer receives not many goods, the actual discussion is scarce.

The market of polyester and silk in Jiangsu and Zhejiang provinces is stable, and there are some ups and downs in some areas. Now the mainstream of polyester POY talks about 11100-11150 yuan / ton, polyester FDY is 12100 yuan / ton, polyester DTY is 12550-12600 yuan / ton.

Three.

In the afternoon, the Asian PTA spot market was strong, and the spot market offer was near $860-865 / ton, and the market enquiry increased. The price of enquiry was near $855 / ton. The main intention of the discussion was $855-860 / ton, and the spot sale of Korean products was 835-840 dollars / ton.

In the afternoon, the PTA market in East China is stable. The mainstream offer of the holding company is 7050-7100 yuan / ton, and the market inquiry atmosphere is general. Some sellers are reluctant to sell, and the negotiation intention is near 7000-7050 yuan / ton.

Four. Market comment

On the whole, crude oil prices fell to $72 a barrel on Monday, and PX prices fell sharply as worries about global economic growth and fuel demand diminished.

In Asia and East China, the spot market has stabilized, and the polyester chips in the lower reaches have remained stable.

Technically, today's PTA main contract TA1009 pressure drop, turnover and positions have increased significantly, indicating that the market is more frequent differences.

From the trend, PTA maintained its low position and was significantly suppressed by the 5 and 10 day moving average. However, there was a technical rebound demand after the sharp fall.

On the operation, it is suggested that investors can continue to be cautious in holding empty space, and generally focus on weak shocks and focus on 7200 front-line pressures.