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GF Futures: Further Strengthening Of Crude Oil Is Expected To Boost PTA

2010/8/4 21:07:00 90

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Yesterday PTA7800 concussion finishing.

As the dollar weakened, WTI crude continued to rise to close at $82.55 / barrel.

PTA spot upstream products: naphtha rose 11 US dollars to 677-679 US dollars / ton CFR Japan, heterogeneous level MX rose 24 US dollars to 809-810 US dollars / ton FOB Korea; Asia PX rose 41 US dollars to 925-926 US dollars / ton FOB Korea, PX and MX two price difference was 116 US dollars / ton line, PX manufacturer is still in a slight profit or loss state.

The current PX contract price is known to be $950 / ton and US $960 / ton, up 50-60 US dollars / ton compared with the July settlement price.

The estimated cost of PTA in PX spot is roughly 6140 yuan / ton line.

PTA spot trading: the general paction level is around 7200-7230 yuan / ton, and the intention of the buyers in the early stage of 7250 yuan / ton chasing the plate is down. Of course, the low-end price seller of the quality stock is still on sale for the time being.

On the outside side, yesterday's atmosphere was also slightly stabilized. Some sellers in the Taiwan stock market were offering about $885-890 / ton, and the negotiations were temporarily held at 880 US dollars / ton or slightly above the level. The Korean offer was $865-870, and the negotiations could be up to 860 U.S. dollars / ton or slightly higher. Traders still have enquiries, but the factory's intention to catch up is down.

PTA enterprise spot margin is roughly 1300 yuan / ton higher state.

at present

PTA

The cost of import is about 7370 yuan / ton.

PTA contract goods: following the introduction of Xiang Lu petrochemical, the Far East and Yisheng have also introduced settlement in the vicinity of 7250 yuan / ton.

Polyester in Jiangsu and Zhejiang provinces

production and marketing

To maintain, most factories can barely do the same or slightly better, with 130% higher and 5-6 lower.

In August 3rd, the central parity of RMB against the US dollar was collaged at 6.7722.

At present, the market generally believes that the RMB will not appreciate significantly in the second half of the year, and the pressure of appreciation will be reduced.

Financial markets:

In July, the US Manufacturing Purchasing Managers Index (PMI) dropped from 56.2 in June to 55.5, the lowest since the beginning of this year, and the third month decline, higher than market expectations.

The central bank believes that the current slowdown in economic growth is the reason why the early growth is too fast, with the base number. At the same time, it is also the result of macro policy control to curb the excessive rise in housing prices, constrain local debt expansion and manage inflation expectations.

However, the central bank said there was little chance of a two dip.

News: Everbright Bank's first application will be issued on the 26 day instead of over 6 billion 100 million shares; Hu Jintao pointed out that the second half of the year should accelerate the reform of finance, taxation and real estate.

It is reported that a heavy rain hit the Korean mountains on Friday, resulting in the interruption of local electricity supply, resulting in the closure of many petrochemical installations.

Samsung's Total company is located in a local 850 thousand ton / year naphtha cracking unit and its downstream unit, including a 120 thousand ton / year ethylene glycol unit and a 650 thousand ton / year para xylene unit.

Samsung's Petrochemical Industries Co set up a 700 thousand ton / year terephthalic acid plant in Dashan, which is also affected by the HC Petrochemical Industries Co's local 360 thousand ton / year para xylene unit.

Last week, Peng Wei Petrochemical officially announced parking to its contract customers.

The company is equipped with a set of 900 thousand tons of PTA devices.

The supply of the contract is expected to be normal in July and the contract may be postponed in August.

Yesterday, Ningbo's Taiwan 800 thousand tons of units failed to shut down production, the current domestic PTA plant operating rate of about 88%.

Disk view: the 1101 contract seems to have a hedging disk intervention.

In the short term, the failure of China and South Korea's PTA devices will stop production, and the supply of PTA will be partially affected, and the crude oil will break through the 80 pass. It is expected that the PTA will be stronger in the short term. The trend of the A shares and the 7800 front-line performance will be noticed in the short term. Suggestions for operation are as follows: in the early stage, there should be more prudence in the early stage, higher prices can be lighten up, shorter trading or wait-and-see, more shocks and more thinking, waiting for the opportunity to intervene in the air temporarily for the time being.