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Market Mentality Is Still Unstable, &Nbsp; PTA May Fall Back.

2011/4/12 11:48:00 79

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Market Mentality PTA

Zhengzhou

PTA

Futures 11 days

reduce one's position size

Upstream.

The main 1109 contract closed at 10976 yuan / ton, up 218 yuan / ton.

Crude oil prices and PX prices rebounded.

cotton

Once the impact of trading, for yesterday's PTA to boost the role of stronger.

However, the pet enterprises have a conflict mentality, indicating that the market mentality is still unstable. Under the pressure of higher inventory, the polyester enterprises can not sustain the PTA soaring.

Technically, the 11200 line is the important technical resistance of PTA.

Overnight crude oil will retreat sharply, and PTA will continue to fall after the short term rebound.

New York

Mercantile Exchange

(NYMEX) crude oil futures fell sharply on the 11 day, down to below $110 a barrel, as traders increasingly worried that rising oil prices would affect demand.

NYMEX May light crude oil futures clearing price fell 2.87 U.S. dollars, to 109.92 U.S. dollars per barrel, or 2.5%, earlier in the market hit a new high of 113.46 U. S. dollars a barrel.

ICE futures exchange Brent crude futures fell $2.63 to $124.02 a barrel.

Intercontinental Exchange (ICE) cotton rebounded on the 11 day, due to

Investment

Analysts said the cotton contract pulled back a decline recorded later last week.

Asian PX rose 39 to 1631-1632 U.S. dollars / ton FOB Korea, Europe fell 15 to 1614-1618 U.S. dollars / ton FOB Rotterdam, the United States steady at 1655-1660 U.S. dollars / ton FOB Gulf of America.

Spot, the relative stalemate, the morning business shipments little intention, a small amount of 11450 yuan or more, buyers low price enquiries, but there is no clear price.

But in the afternoon, the futures trend has dropped, and the intention of the polyester factory to catch up is generally not strong. The popularity of the market has dropped slightly. The negotiation has started near the 11300-11350 yuan price, and the atmosphere is slightly lighter than the external market.

The downstream market, Zhejiang polyester market overall market stability, structural fluctuations, the pre factory oversold price of individual factories fifty, while the partial high specification products still have downward trend, the market turnover situation is good, the mainstream factory production and sales rate has obviously picked up, some factories have sealed the situation, the overall production and sales between 150-300%, a small number of 7-8, the short term downstream filling action has a certain effect on the polyester market, the polyester factory is mainly shipped, and the price remains shock finishing.