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Crude Oil Rose To Boost &Nbsp; PTA Higher And Higher

2010/9/14 16:28:00 73

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Crude Oil PTA

Zhengzhou

PTA

Futures opened slightly higher yesterday.

The main 1101 contract closed at 7922 yuan / ton, up 0.74%.

Driven by a sharp rise in crude oil.

In addition, the demand for the traditional peak season and the Mid Autumn Festival National Day increased, but PTA is still in the background of high profits, Gao Kai rate and high inventory.

It is expected that the PTA will continue to consolidate.

New York Mercantile Exchange (NYMEX)

Crude oil futures

The 13 day closed at a one month high, due to the latest evidence of strong economic growth in China, consolidating the demand outlook for crude oil.

The New York Mercantile Exchange's October crude oil futures clearing price rose 74 cents to $77.19 a barrel, or 1%, the highest settlement price since August 11th.

ICE futures exchange Brent crude futures rose 91 cents to $79.07 a barrel, or 1.2%.

In October, the price of RBOB gasoline futures rose 0.75 cents to $1.9806 a gallon, or 0.4%. In October, the heating oil futures clearing price rose 1.83 cents to 2.1227 dollars per gallon, or 0.9%.

China announced on 11 th that industrial added value increased by 13.9% over the same period in August, an increase more than expected.

In addition, an important pipeline from Canada to the US refinery continues to shut down, which also supports the price of crude oil, but ample inventory reduces the possibility of tight supply of crude oil.

Goods in stock

On the other hand, the Asian PTA spot market has risen slightly, the Taiwan cargo shipping quoted at 915 US dollars / ton, the buyer's enquiry in the market is at 910 US dollars / ton, the seller is reluctant to sell at a low price, and the negotiation is started between 910-915 US dollars / ton, the market paction atmosphere is good.

The atmosphere of PTA market in East China is rising, the market offer is near 7500 yuan / ton, the market inquiry atmosphere is positive, the price is 7450 yuan / ton, and the market atmosphere is good.

On the basic level, the recent factor restricting the rise of PTA price is the power cut in the downstream industries, but now it is gradually entering the peak season of textile consumption in the autumn and winter. The tension in the textile and garment market will be pmitted to the upstream of the industrial chain.

Moreover, some PTA production enterprises have entered the production and maintenance period recently, but the pressure on PTA inventory has not increased significantly.

In terms of demand, it is expected that there will be a number of planned shutdown inspections of PTA plants in Asia in 9 and October, including the three production lines of Yangzi Petrochemical 1 million 300 thousand tons / year, the 1 million 500 thousand tons / year equipment of Xiang Lu Petrochemical Company, the 550 thousand tons / year device of India IOC company, the 550 thousand ton / year 3 device of South Korea KP chemical plant, and the 600 thousand tons / year installation of Ningbo platform. The current maintenance of the plant has led to a decline in the operating rate, and at the same time, the basic supply and demand of PTA Market is relatively strong.

Therefore, supported by the relatively strong supply and demand fundamentals of PTA, the reduction of PTA demand is a temporary phenomenon.

This will have a positive effect on the trend of PTA.