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Crown Futures: Downstream Consumption Is Booming &Nbsp; PTA Short Squeeze Short.

2010/9/11 14:22:00 64

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today

PTA

1101 opened at 7864 yuan, opened slightly higher after the trial 7900 yuan, but the pressure to suppress the strong, gradually dropped to 7830 yuan intraday, followed by a slow walk, ending at 7856 yuan, compared with the previous trading day fell 30 yuan.

Daily turnover of 509116 hands, positions reduced by 11490 to 251656 hands.

Thursday

New York

Crude oil futures in October fell 0.42 U.S. dollars to 74.25 U.S. dollars / barrel; Brent futures in October fell 0.70 U.S. dollars to close at 77.47 U.S. dollars / barrel.

Asian PX rose 3 to 960 U.S. dollars / ton FOB Korea, European PX basically stabilized at 965-970 US dollars / ton FOB Rotterdam.

The PTA market showed a trend of adjustment. The mainstream of the internal market basically remained at 7400-7450 yuan / ton, and the Taiwan goods in the outer market were about 905 dollars / ton.

The MEG market presents a stalemate. The mainstream of the internal market is around 6500 yuan / ton, and the price of the external market is slightly chaotic. The mainstream is around 805-815 US dollars / ton.

Factory reception

Goods in stock

Due to resource constraints, the price of polyester and staple in Jiangsu and Zhejiang continues to rise. Today, 1.4D's short and mainstream quotations have risen to 9850-9950 yuan / ton, and the market enquiry atmosphere is acceptable.

Today, the popularity of the polyester Market in Jiangsu and Zhejiang has generally increased, and the enthusiasm for buying the downstream market is relatively high. FDY, together with the low initial performance, has also picked up. The increase in silk price is basically 100-200.

Along with the rise of the downstream polyester industry, plus yesterday's last market, there was a partial chasing behavior. For example, after 16 points, Jiangsu's single 1000 ton and half light section was traded at 9270 yuan / ton (Cheng Dui's self mention in March). This morning, Jiangsu and Zhejiang semi light section center continued to rise in the early week, and the mainstream newspaper was 9300-9400 yuan / ton (Cheng Dui).

At present, with the fall of gasoline consumption, refinery operating rate has declined, PX supply has been relatively tight, supporting PX prices have stabilized, and the peak season of PTA consumption is beginning to show. Yesterday's PTA price slump did not affect the popularity of downstream markets. Today, polyester products prices remain uptrend, reflecting PTA consumption to a certain extent.

The good fundamentals have made the pressure of the short market slightly weak. The bottom of the intraday market has picked up, and the active departure of the Bulls has only lowered the price slightly. The market confidence is expected to rise gradually, so next week's operation will be dominated by more ideas.

Pay close attention to the weekend's macroeconomic data.