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September 17Th PTA Daily Review: Downstream Demand Slowed Down &Nbsp, PTA Slightly Lower

2010/9/19 17:20:00 31

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Zhengzhou

PTA

Futures opened lower in September 17th.

Among them, the main contract 1101 opened 7868 yuan / ton, the highest 7920 yuan / ton, the lowest 7860 yuan / ton, closing 7892 yuan / ton, compared with the September 16th settlement price fell 12 yuan or 0.15%, 438600 hands trading, holding 247002 hands.

Short-term

In view of the slow recovery of downstream demand, PTA weakened.

In addition, the external environment is not optimistic, preganglionic funds to avoid risks, a large number of large positions, but the market by the traditional peak season and Mid Autumn Festival National Day double demand for materials to increase, it is expected that PTA is difficult to improve, with weak thinking.

New York Mercantile Exchange (NYMEX)

Crude oil futures

The Asian electronics market rose on the 17 day, but the week is expected to fall as a result of a week's low position, because the pipeline in the Midwest of the United States has been repaired and reopened, relieving the market's concerns about possible decline in crude oil inventories.

Around 15:00 Beijing time, NYMEX crude oil futures rose 0.21 U.S. dollars, to 74.78 U.S. dollars / barrel.

Enbridge energy company gained 1.9% of its crude oil futures price on the 16 day after it was approved by the US government to resume the oil pipeline work of 6A pipeline.

The pipeline system will resume operation on 18 days.

Asian stock markets rose today as gains from technology companies rose.

The number of initial jobless claims in the United States exceeded expectations and dropped to its lowest level in two months.

According to data released by the US Department of labor 16, as of September 11th, the number of first time applications for industrial gold in the United States decreased by 3000 to 450000, the lowest level in two months.

In addition, OPEC will reduce oil output by 1.2% in the month, and the refineries in the US and Europe will end their maintenance as the global economic recovery slows down.

By the end of October 2nd, OPEC will deliver 2 million 320 thousand barrels of crude oil a day, and in the month of September 4th, OPEC will deliver 2 million 347 thousand barrels of crude oil per day.

On the market side, on the 16 day, Asian PX rose 2 US dollars to 970 US dollars per ton, equivalent to PTA cost of 6387 yuan / ton.

The operating rate of the PTA plant was 94%, while that of the downstream polyester plant decreased to 81.6%.

PTA factory stock for 0-4 days, polyester factory stock for 12-25 days.

The spot market and the spot market were frustrated and the market atmosphere was slightly dull. In the East China domestic market, the market quotation in the afternoon dropped to 7500 yuan / ton from 7550 yuan per ton in the afternoon. The discussions were mostly around 7450-7500 yuan / ton, and heard that there was a real price reached in this range, but some traders were reluctant to sell the price within 7500 yuan / ton. In terms of the gold plate, the price was somewhat loose, and the Thai product's offer was still 910-915 dollars / ton, but there was still room for negotiation.

Downstream, the recent concentration of power rationing has gradually eased.

On the one hand, the Ministry of industry and Commerce believes that the practice of centralizing power restriction is not appropriate, and will sum up experience so as to normalize, institutionalize and standardize energy conservation work.

The real power restriction measures eased in the Ministry.

On the other hand, in some areas, the strategy of self purchasing generators is used to restore production, which has contributed to the recovery of the rigid demand in the downstream of PTA.