Spot PTA Consolidation, Stable Downstream Market Weak

　　 Today, PTA futures contract 1105 contract opened at 9470 in early trading, the highest 9594, the lowest 9438, closing 9442, compared with the 7 day settlement price fell 36 yuan, turnover 614230 hands, holding positions 165656 hand, day increase -7060.

Upstream: Ireland will pass a stringent budget, the euro exchange rate is strong, rumors that the United States may reduce taxes and increase consumer spending has made the European and American crude oil futures continue to soared on Tuesday. Dollar exchange rate Trading in New York reversed, closing oil prices for the first time in five trading days. Tuesday (December 7th), New York commodity futures exchange, Texas light oil January 2011 futures settlement price of 88.69 U.S. dollars per barrel, compared with the previous trading day fell 0.69 U.S. dollars, the trading range of 88.04-90.76 U. S. dollars, London intercontinental Brent crude oil futures clearing price in January 2011 $91.39 per barrel, compared with the previous trading day fell 0.06 U.S. dollars, the trading range of 90.71-92.86 U.S. dollars. On the 7 day, the closing price of Asian PX was 1307.00-1308.00 USD / ton (FOB Korea); 1322.00-1323.00 USD / ton (CFR Taiwan), the price rose by US $43.5 compared with the previous day.

Spot: East China PTA Market The atmosphere was light. The seller's offer was close to 9250 yuan / ton, and the market trading atmosphere was deadlocked. Most of them were on the sidelines. The mainstream market negotiations started near the 9150-9200 yuan / ton, and the market was scarce. The PTA spot market in Asia is in a weak atmosphere. The Taiwan products offer is close to $1170 / ton, and the negotiation area is near $1160 / ton. The spot sale of Korean products is close to $1140-1145, and the overall turnover is scarce.

Downstream aspects: polyester Slicing is still slant, and market confidence is still weak. The mainstream business in Jiangsu and Zhejiang is now trading at 11300-11400 yuan / ton, slightly higher in price, or lower in price. The staple market in Jiangsu and Zhejiang provinces is weak and collated. The mainstream quotation is 12800-14000 yuan / ton, and the focus of negotiations is maintained at 12800-13300 yuan / ton. The wait-and-see atmosphere is strong and the purchasing enthusiasm is poor. The mainstream of polyester and silk industry in Jiangsu and Zhejiang provinces is stable. Some big factories have a slight callback action. Some manufacturers still have one to two hundred discount, and the turnover is acceptable. The overall production and sales are at 80-110%, low by 4-5, and the market overall confidence is insufficient.

Overall, international crude oil has fallen sharply, PX has risen sharply, spot PTA has been consolidated, and the downstream market has steadily weakened. Domestic policy is still expected to control inflation. Today, PTA opened lower and hit lower, closing below the 5 day moving average, and the rebound trend has become a trend of concussion. From the position and change of the 20 positions in the post office, the overall multi party holdings, the reduction of the empty side, not much. The downstream has stabilized slightly, but the traditional textile season has already passed, and the downstream market lacks confidence. The long-term trend of PTA is not optimistic. Focus on international crude oil and domestic stock market trend, shock thinking, short-term trading.