October 21, 2010 PTA Spot Market Daily

The main price of cash in the main market is 8350-8400 yuan / ton.

The horizontal price of cash on board cash plate: $1045 / ton nearby.

The price level of the spot cash plate is 1030-1035 USD / ton.

On Thursday, crude oil rose sharply overnight, which led to a sharp decline in futures market and an increase in market wait-and-see atmosphere.

In the internal market, the seller's offer for PTA spot rose to about 8400-8450 yuan / ton, and some polyester factories participated in the inquiry, but the delivery rate was near 8350 yuan / ton.

Afternoon futures weakened, spot trading atmosphere slightly affected than in the morning, but the spot mainstream trading level still maintained 8400 yuan / ton, around noon around the number of pactions in 8400 yuan / ton turnover, with the futures down, the market atmosphere has done, but the business low price shipment intention is not big, the market maintained at 8350-8400 yuan / ton negotiation level.

PTA external atmosphere improved in the morning. The spot quotation of Taiwan products rose to around 1050-1055 U.S. dollars / ton, and the buyer handed over to US $1035 / ton. The spot stock of Korean products was quoted at 1035-1040 US dollars / ton, and the buyer handed in 1025-1030 US dollars / ton, which was sold at a low price.

In the afternoon, PTA's external market was weak and the overall trading stalemate.

A small number of traders will continue to deliver, and the general spot paction will probably start near $1045 / ton.

South Korea produces more bonded quotas, shipping negotiated to US $1030-1035 / ton, and a single cargo traded at US $1030 / ton.

In Jiangsu and Zhejiang Province, the production and sale of polyester and polyester are generally 7-8. Most of the factories are barely finished, some of them are barely flat, and the local area is lower than 4-5.

Brief analysis of market outlook

After a modest correction in short-term spot prices, the fear of high spirits was released, because spot prices were below or near the level of contract price. Therefore, some factories began to show demand, and there was still some divergence in market sentiment in the near future.