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International Crude Oil Prices Ended Four Consecutive Days Of Gains.

2010/8/4 21:05:00 75

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Market Review

Due to the disappointing US economic data released on the previous day, overnight crude oil prices ended four consecutive days of gains, and the September contract fell to $82 / mark.

Affected by this, today's Zhengshang Office

PTA

The main contract 1101 opened slightly higher than yesterday's settlement price, opened 7730, the intraday price was high, the highest 7798, the lowest 7702, the afternoon price fell sharply, the morning's rally, the tail rose slightly, and finally closed at 7754, compared with the previous trading day rose 14 points, or 0.18%, turnover 582498 hands, positions 205382.

Two. Upstream and downstream market information

1, crude oil inventories in the US have dropped sharply, providing strong support for oil prices.

The United States Association of Realtors announced on Tuesday that the United States signed a housing contract in June as the federal government cancelled a subsidy policy for buyers.

Sale

The index fell 2.6% to 75.7, after which the market forecast June data will be unchanged from May.

In June, the number of individuals in the United States increased unexpectedly.

Economists estimated that personal spending increased by 0.1% in June, and personal income increased by 0.2%.

The above data further confirm that US economic growth is slowing down and investors' confidence in economic recovery has been affected.

The API's inventory report released on Tuesday showed that crude oil inventories in the United States dropped by 776 thousand barrels as of July 30th, while analysts expected a drop of 1 million 400 thousand barrels.

Among them, the NYMEX crude oil futures contract delivery place Cushing foreign crude oil inventories increased 666 thousand barrels compared with last week.

Meanwhile, gasoline inventories increased by 2 million 300 thousand barrels, including distilled stocks of heating oil and diesel, which increased by 1 million 100 thousand barrels.

New York business

exchange

NYMEX crude oil futures contract for September was 82.08 U.S. dollars / barrel, down 0.47 dollars from yesterday's closing price, and October contract was 82.50 U.S. dollars / barrel, 0.49 dollars lower than the previous trading day.

ICE futures exchange Brent crude oil futures contract settlement price rose 1.86 U.S. dollars, to 82.68 U.S. dollars per barrel, or 2.3%.

NYMEX September light crude oil futures contract settlement price rose $1.21, to $82.55 a barrel, or 1.5%, the highest settlement price since May 4th.

2, PX rose sharply compared with the previous day.

On the 3 day, the closing price of Asian PX was 925.00-926.00 USD / tonne FOB Korea, 940.00-941.00 USD / ton CFR Taiwan, the price rose by 41 US dollars compared with the previous day.

3, polyester chip prices rise, polyester polyester short quotation pull up

The export price of domestic water bottle is rising. The factory quotes mostly at 1160-1170 US dollars / ton FOB main port, and individual closures are discussed at 1150 FOB per ton port.

The market atmosphere of PTA and MEG is still good, and the number of exploratory enquiries is increasing, and fiber polyester is stable.

Under the above background, the market of water bottles in East China is strong, and individual factories are making up, mainly concentrated in 9500-9600 yuan / ton cash or short trip, small and medium-sized single mainstream talks are in 9400-9600 yuan / ton, the downstream beverage factory is cautious about the current round of rising, and some small bills have been concluded.

The market of staple fiber in Jiangsu and Zhejiang has risen.

The offer price of the holder rose to 9600-9900 yuan / ton, and the discussion concentrated on 9550-9700 yuan / ton. The buyers were better and sellers were more reluctant to sell.

In Jiangsu and Zhejiang provinces, polyester and fine denier FDY products continue to push up, POY overall stability, DTY side is the same.

Now polyester POY mainstream talks about 11200-11250 yuan / ton, polyester FDY at 11850 yuan / ton, polyester DTY at 12400-12550 yuan / ton, the atmosphere is acceptable.

Three. Spot market observation

In the afternoon, the PTA spot market in Asia was strong, most of the market offer was $890 / ton, the price was $880-885 / ton, and the mainstream talks started near $885 / ton, and the spot market for Korean products was at the level of 865 US dollars / ton.

In the afternoon, the PTA spot market in East China stabilized, and the market holding company's offer was near 7300-7350 yuan / ton, and the intention of shipment increased. The mainstream talks were about 7200-7250 yuan / ton, and the trading atmosphere was dull.

Four. Market comment

In general, a series of economic data in the United States has been disappointing, and the price of international oil prices has been rising for four consecutive days, the price is near 82 US dollars / barrel, and the price of PX has risen sharply.

In Asia and East China, the stock market is strong, and the polyester chips in the lower reaches are steady, and polyester staple fibers are rising.

Technically, today's PTA main contract 1101 down, prices hovering above the 5 day moving average, positions and trading volume has increased significantly, from the top 20 positions, the bulls are significantly larger than the empty, indicating that the bull's confidence has increased.

Operation, because the short-term intention to do more obvious, it is recommended that investors can more carefully hold, focus on the 7800 point of pressure.