8 PTA Early Comment: Crude Oil Rebound To Boost &Nbsp; PTA Downlink Limited

Zhengzhou

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Supplement:

This Wednesday, Zhengzhou TA main contract 1009 was affected by the rebound of crude oil, slightly opened 46 points, opened at 7180 points, followed by a slight price down 7158 points, and then the stock market rebound once again stimulated the price is in a consolidation trend, with a 7212 high spot price.

The turnover is 260222 hands, and the position is 175608 hands.

Basic analysis: the US economic consultative conference said on Tuesday that, in view of the strong recovery in recent quarters, the weak growth of private employment in the past two months has been disappointing. Over the past two months, the employment trend index has increased slightly in the past two months, implying that many employers are worried that the economic recovery will lose its functions, which will increase the employment trend index to 96.7 in June, up 9.8% from the same period last year.

In June, the US employment market improved for 11 consecutive months, but the weak employment created by the private sector did not improve in June.

On the same day, the US ABCNews survey showed that the US consumer confidence index slipped to minus 42 in the week of July 3rd. Although consumer confidence index has declined, it is still close to the highest level this year.

The data released by the US Institute of supply management promoted the rise of US stocks. The price of crude oil prices has rebounded by nearly 4% from a strong low, and crude oil prices exceeded $73 / pail, followed by market investors' worries about economic growth.

Overnight, the closing price of New York crude oil futures contract fell slightly from 0.11 U.S. dollars to 71.89 U.S. dollars / barrel in August, and the trading range was 71.09-73.86 U.S. dollars / barrel.

In the short term, demand may again stimulate the rebound in crude oil prices.

Asian naphtha market prices rebounded slightly.

Taiwan Formosa Plastics Company plans to purchase 300 thousand tons of naphtha for six months or twelve months starting in October. The standard purchase will start in July 8th and the effective date will be up to July 12th.

While buying naphtha, Total will also purchase about 600 thousand tons of naphtha from September 2010 to August 2011.

During the sensitive period of the market, the purchase of naphtha from Korean and Taiwan businesses may stimulate a slight rebound in naphtha and naphtha pyrolysis spreads.

Naphtha prices rebounded slightly from a nine month low, and the difference in naphtha cracking prices reversed a week's high.

Singapore naphtha price rose slightly 0.34 US dollars / barrel to 67.53-67.57 U.S. dollars / barrel, Japanese naphtha rebounded slightly 3.725 US dollars / ton to 622.5-624.25 U.S. dollars / ton.

Overnight, the global PX closing price declined slightly again due to the weakening of crude oil.

In the Asian market, the closing price of FOB Korea PX declined slightly from 5 US dollars to 829-830 US dollars / ton, and the closing price of CFR Taiwan PX declined slightly from 5 US dollars to 844-845 US dollars / ton.

In the European market, the closing price of FOBRdamPX slipped slightly from 2 US dollars to 862.5-866.5 US dollars / ton.

In the US market, FOB Bay PX closed slightly down $2.5 to $867-872 / ton.

In the short term, the stabilization of crude oil prices may stimulate PX prices to rebound again.

PTA spot market, Sinopec Chemical sales company announced June PTA settlement price of 7300 yuan / ton, July PTA listing price implementation of 7600 yuan / ton.

In the East China market, PTA prices continued to remain stable, traders quoted 7000-7050 yuan / ton, and the downstream enterprises intended to purchase prices at 6950-7000 yuan / ton.

However, traders' mentality improved as the price rebounded.

PTA imports in Asia have remained stable for the time being. The price of Taiwan's CFR is $855-860 / tonne, and the downstream company's intention to purchase is US $850-853 / ton.

The price of CFR produced in Korea is US $830-835 / ton, and the downstream company's intention to purchase is US $830-833 / ton.

PTA industry chain for commodities.

The price of polyester Market in East China is weakening again. The price of semi gloss PET chips and bright polyester chips has declined. The market turnover is mostly dull. The cash price of polyester chips in the East China market or the March acceptance price is 9300-9400 yuan / ton.

The price of polyester market will be in a downward trend in the near future.

In the polyester market, due to the limitation of chemical fiber enterprises, the debt crisis in Europe, the appreciation of the renminbi, the textile consumption peak season and other factors, the price of polyester fiber has slipped slightly again. Although the price of manufacturers is still stable, the price has loosened.

In the short term, the market price of polyester will probably decline slightly.

To sum up: in the short term, the price of downstream products may be slightly retraced due to sluggish demand, but the rise in crude oil prices may again stimulate a slight rebound in the price.

Short term price in the vicinity of 7100 to form a double bottom form, once again set foot on the road to rise, the pressure on the top 7500 stronger.

In operation, the period price is between 7100-7500 and band operation.