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US Cotton Is Going Up, And Short-Term PTA Will Remain The Main Shock.

2011/5/4 16:02:00 57

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Zhengzhou PTA futures rose 3 days later.

The main 1109 contract closed at 10314 yuan / ton, up 102 yuan / ton.

During the May 1 period, the market did not raise interest rates.

At present, the sales situation of downstream filament continues to maintain good, and enterprises maintain preferential sales promotion.

Due to the lack of strong support from upstream and downstream,

PTA

Although there has been a rebound, sustainability is not optimistic.

At present, the PTA main force 1109 contract is facing pressure above 10300 points, and the 10000 point supporting role is stronger.

Overnight crude oil plunged and US cotton rose. It is expected that short-term PTA will remain the main shock.

New York Mercantile Exchange (NYMEX) crude oil futures fell sharply on the 3 day, followed by silver futures and other commodity futures.

NYMEX June light crude oil futures settlement price fell $2.47, to $111.05 a barrel, or 2.2%, the lowest closing price since April 19th.

Oil prices plummeted, and some market participants believe that the sudden fall of silver futures is a driving force behind the sudden fall in oil prices.

At the same time, the strong US dollar is also one of the reasons for the pressure on the crude oil market.

Intercontinental Exchange (ICE) cotton futures closed higher on the 3 th, and analysts said floods in some parts of the US delta triggered investor buying and drought in Texas.

Asian PX suppliers in May ACP (Asian contract price) was set at $1605 / tonne CFR Asia, compared with April settlement of US $1690 / ton by 85 US dollars / ton.

On the spot, internal market

PTA spot

The market atmosphere was quiet, and the focus of the paction rebounded slightly. The mainstream quotation in Jiangsu and Zhejiang markets was 10550-10600 yuan / ton, and the paction price was around 10500-10520 yuan / ton, and some buyers were offering a counter at 10450-10470 yuan / ton.

On the outer side, the spot price of the general table is kept near $1335 / ton, and the spot price of the Korean goods is kept near the $1330 / ton.

Downstream, the Jiangsu and Zhejiang markets are semi sliced.

Spot quotation

13000-13100 yuan / ton March self acceptance, cash 12900 yuan / ton, the actual negotiating level of 12800-13050 yuan / ton cash or March acceptance level.

Far east direct spun polyester staple fiber semi gloss 1.4D*38mm Zhejiang cash to deliver 13830 yuan / ton, cash in Zhejiang province to deliver 13910 yuan / ton; Jiangyin Huahong direct spinning and three lane direct spinning polyester short cash to deliver 13750 yuan / ton.