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Zhengzhou PTA Futures Closed Slightly In Early May 3Rd

2011/5/4 16:37:00 46

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Zhengzhou

PTA futures

In May 3rd, early trading rose slightly.

The main contract 1109 opened 10230 yuan / ton, closing 10274 yuan / ton, up 62 yuan / ton, turnover 353600 hands, holding 210392 hands.

Affected by the news of Laden's death, overnight crude oil fell, PTA cost support is not strong.

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

Short term rigid demand exists, medium-term demand is not optimistic.

Technically, PTA1109 contracts are still in a downward spiral, and PTA is expected to have a short-term or technical rebound, but the rebound is highly limited.

Technology concerns 10500 line pressure, 10 day moving average pressure, 10000 first line support.

New York commercial Futures Exchange (NYMEX) crude oil futures fell on the 3 Asian electronic disk, as the dollar rebounded slightly from a three year low, closing at 11:30 in Beijing, and NYMEX crude oil futures in June fell 0.64 US dollars to 112.88 US dollars per barrel.

Analysts said the impact of Laden's death was "very short", and the basic situation of crude oil supply and demand has not changed fundamentally.

But if Laden's death led to a larger scale of retaliatory terrorist attacks, the crude oil market will have a sharp concussion.

Because PX gross profit is better, the positive impact of crude oil on PX is limited, and material shock is the main factor.

Last Friday, Asia fell 33 to 1569-1570 U.S. dollars / ton FOB Korea dollar / ton FOB Korea.

The estimated cost of PX in Asia is about 9230 yuan per ton. On Friday, the spot price of PTA in Jiangsu and Zhejiang provinces is 10490 yuan / ton, and the gross profit margin of PTA spot is 1260 yuan / ton on Friday.

In terms of gross margin, PTA costs are limited to PTA support.

On the spot side, the PTA market in East China is relatively quiet. Business negotiations are basically stagnant. A small number of trial offer is still in the range of 10600 yuan / ton, and the negotiating price is 10550 yuan / ton.

Asian PTA cargo offer is limited, some tentative offer not less than 1340 U.S. dollars / ton, negotiate 1335-1340 U.S. dollars / ton CFRL/C90 days, low end is hard to find.

Downstream, cause

polyester

Raw materials fell larger and polyester links improved.

Downstream last week

Weaving

Factory confidence is insufficient, mainstream factory polyester filament turnover center of gravity weakened downward; due to increased inventory pressure, the factory actually shipped out; China Light Textile City (600790, stock bar) (chemical fiber cloth + cotton cloth) daily turnover of about 7 million 400 thousand meters, compared with the same period last year average 4 million 830 thousand meters, up 1 million 670 thousand meters, an increase of 53.2%, short-term rigid demand exists.

Judging from the situation of Canton Fair, textile and garment enterprises mainly focus on short lists, and the medium-term demand is not optimistic.