International Crude Oil Prices Rose Slightly PTA Main Contract TA1105 Down

Market Review

International crude oil prices rose slightly due to weaker US dollar and winter demand for heating oil to support investor sentiment. Affected by this, today Zheng Shang The PTA main contract 1105 opened slightly higher, opened 9520, the intraday price surged up sharply, the highest 9520, the lowest 9492, the afternoon price was unable to go up and down, finally closed at 9516, compared with the previous trading day settlement price fell 16, 0.17%, turnover 581086 hands, positions 169482 hands.

Two. Upstream and downstream market information

1, investors worry that the US fiscal deficit will expand and suppress the US dollar, and crude oil prices will rise slightly.

On the 9 day, the dollar declined instead of Asian currencies. US currency Collective rise. Investors are worried about the expansion of the US fiscal deficit and the coming of potential inflation, which has depressed the US dollar. Germany's industrial output in October was better than expected, suggesting that the German economy is slowly recovering, boosting market confidence in the euro. Australia's November employment figures released on the 9 day were ideal and also pushed the Australian dollar higher. Data released by the US Department of energy information released on Wednesday showed that US crude oil inventories fell by 3 million 800 thousand barrels in the week ending December 3rd, a drop higher than expected. Meanwhile, gasoline inventories increased by 3 million 800 thousand barrels, and distillate stocks increased by 2 million 200 thousand barrels.

The New York Mercantile Exchange NYMEX crude oil futures contract for January 2011 was 89.08 U.S. dollars / barrel, up 0.80 dollars from the closing price of the previous trading day, and the February contract was 89.56 dollars / barrel, which was 0.74 dollars higher than the closing price yesterday. ICE Brent crude futures contract settlement price fell $0.62 to $90.77 a barrel, or 0.7%. Jan crude oil futures The contract settlement price dropped by 0.41 US dollars to 88.28 US dollars, or 0.5%.

2, PX fell slightly compared with the previous trading day.

On the 8 day, the closing price of Asian PX was 1297.00-1298.00 USD / ton FOB Korea, 1312.00-1313.00 USD / ton CFR Taiwan, the price fell by 10 US dollars compared with the previous day.

3, polyester chip prices remain strong, polyester polyester short quotation look more.

The cost of polyester raw materials is still strong. Today's East China PET bottle is the center of gravity. The price is basically unchanged. The main market quotation remains at 11800-12000 yuan / ton, or the factory is delivered at 11700-11900 yuan / tonne. The higher the small size is 12000 yuan / ton, because the short-term price is difficult to fluctuate sharply, and the downstream demand has slightly improved. The market has seen a small amount of filling positions, but there is still no big single deal heard, and the total volume of transactions is slightly enlarged.

The market atmosphere of Jiangsu and Zhejiang is generally low, and the wait-and-see mentality is still strong. The main market quotation is 12800-14000 yuan / ton, and the focus of the transaction is maintained at 12500-13000 yuan / ton. The mainstream manufacturers of polyester filament in Xiaoshao District of Zhejiang continue to be stable, but the overall market mentality is slightly weaker. Individual specifications have been slightly lowered, and the intention of the polyester factory has been enhanced. Some of the actual transactions have been preferential operation. Today, the production and sales volume has dropped to 6-8. The number of individual factories is still slightly better than that of 100-150%, with a slight decrease of 4-5, and downstream and traders wait-and-see sentiment has increased.

Three. Spot market observation {page_break}

In the afternoon, the PTA spot market in Asia was in a cool atmosphere, with a small offer at 1170 USD / ton, and the buyer's wait-and-see sentiment was obvious. The mainstream talks were near $1160-1165 / ton, and the spot sale of Korean products was close to $1145, and the market was scarce.

In the afternoon, the PTA market in East China stabilized, and the seller kept the offer at 9300 yuan / ton. The market was scarce, and the wait-and-see mood was strong. The mainstream talks started near 9200-9250 yuan / ton, and the firm market was light.

Four. Market comment

Overall, the latest US energy department data show that last week the US fuel inventories rose more than expected, forcing overnight oil prices to pick up and PX prices to weaken. In Asia and East China, the spot market is stable, and the price of polyester chip is steady, and the price of polyester staple fiber is stable. Technically, today's PTA main contract TA1105 rushed down, early morning around 10 o'clock sharp increase in positions, but in the afternoon, with the A share market plunged slightly, the price fell to the 5 day moving average. Operation, the weak fundamentals in the short term can not provide support for PTA uplink, so it will maintain a weak and volatile market. It is advisable for investors to sell short and operate within days.