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7 Days PTA Early Comment: PTA Low Open Upstream &Nbsp; Medium Term Downward Pressure Still Exists.

2010/7/7 15:19:00 39

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Due to NYMEX

Crude oil futures

On Tuesday, PTA was short of explicit guidelines, and market segment consolidation was the main reason, with a slight increase in late trading and a 7180 contract closure at the end of 1009.

Monday Asia PX

Spot market

Further expansion of the decline, closing, FOB Korea fell 10 U.S. dollars / ton to 834-835 U.S. dollars / ton, CFR China / Taiwan fell 10 U.S. dollars / ton to 849-850 U.S. dollars / ton.

The PTA spot market in Asia is stable and the atmosphere is slightly better.

The spot market in East China rose slightly, and the mainstream offer of the holding company was at 7050-7100 yuan / ton, and the negotiation rose to 7000-7050 yuan / ton tentatively.

Domestic polyester chip market trading atmosphere slightly improved, trading volume picked up slightly.

raw material

PX restores the downtrend and drives domestic PTA manufacturers to increase profits.

Preliminary estimates show that PTA production profit rose to 1371 yuan / ton at the beginning of the week, and the factory load also increased to 93.5%.

From the perspective of the downstream market, due to the implementation of the power restriction measures for Zhejiang sluice, the downstream bomb factory and weaving factory are stepping up their procurement of raw materials in the near future, giving the PTA futures market a certain support in the near future.

But in the medium term, it is difficult to fully digest the current supply before the arrival of the peak season for textile and garment production in winter.

Therefore, we believe that the short-term PTA is mainly biased and the downward pressure on the medium term remains.

Supplement:

In July 6th, the price trends of PTA and MEG were all consolidation. The price trend of semifluid polyester chips and large gloss polyester chips moved downwards. The price of CDP chips was stable and the price of PET bottles decreased.

Acrylic fiber 1.5D * 38mm, acrylic top 3D * 102mm price adjustment, CPL, nylon 6 Slice price consolidation status.

Affected by the drop in international oil prices, the opening price of polyester today is still showing a small range of ups and downs. For example, a large factory in Taicang POY10 kilogram specifications, because yesterday's production and sales rate is better, today's product quotation has risen 50 yuan /T, but the foreign real estate part of polyester sells to Shengze and Jiaxing, the market quotation center of gravity moves downward, among them, half light FDY150D/96F quoted price falls to 12400 yuan /T.

As the PTA futures market weakened on that day, the trading atmosphere declined and the market situation of polyester market was poor.

At present, although spinning mills do not have much inventory pressure at present, the purchasing intention of downstream factories is weak due to the prevailing high price level.

It is expected that the probability of falling polyester market will be larger.

The trading price of polyester staple is stable.

Viscose staple fiber prices remained stable.