Downstream Demand Is Constrained By &Nbsp; PTA Or Vulnerable Adjustment.
Zhengzhou PTA futures fell again on the 6 day. The main 1109 contract closed 9563 yuan / ton, down 360 yuan / ton. Under the economic outlook and the dollar rebound, crude oil fell below the 100 U.S. dollar mark, domestic tightening policy is expected to be strong, and the market continues to bear pressure.
PTA spot market atmosphere is low, purchasing intention is dull.
Terminal products
Will gradually enter the demand off-season, some policies such as electricity reduction and emission reduction in Jiangsu and Zhejiang provinces are still continuing, and will have a certain inhibition on the downstream demand recovery.
Crude oil continued to fall on Friday, and cotton prices in the United States varied. It is expected that the short-term PTA will continue to be vulnerable to adjustment.
The New York Mercantile Exchange (NYMEX) crude oil futures closed lower again on the 6 day, which was affected by the strengthening of the US dollar.
NYMEX June light crude oil futures settlement price fell $2.62 to $97.18 a barrel.
Media reports say Greece is considering withdrawing from the eurozone, and the finance ministers of the eurozone member countries are holding a secret meeting to discuss the matter.
Although eurozone officials and European multinational finance ministers denied that, the news greatly dampened investor confidence in the euro, and the euro fell sharply by about 1.5% against the US dollar, causing heavy pressure on oil prices.
Intercontinental Exchange (ICE) cotton futures were mixed for 6 days, analysts said.
Stage cotton
Market in the past few days
commodity
Prices seem to have stabilized after the crash.
On the 5 day, Asian PX prices fell 17 US dollars to 1557 US dollars / ton FOB Korea, and European PX prices dropped 10 to 1640 US dollars / ton FOB Rotterdam.
On the spot side: the PTA spot market in East China continued to fall, and the offer was 10000 yuan / ton. Traders still hesitated to enter the market. The firm offer was around 10000 yuan / ton, and the trading volume was light.
Asian Taiwan produces PTA cargo and bonded offer mainly concentrated in 1280 US dollars / ton, buyers intent on 1260 U.S. dollars / ton, negotiating a valuation of 1270 U.S. dollars / ton CFRL/C90 days.
Downstream, the price of polyester products continues to shift downward.
Downstream enterprises are increasingly cautious in the procurement of polyester, and the production and marketing situation of spinning mills is uneven.
Polyester market is slant, price center continues to fall.
In terms of energy saving and emission reduction, the demand and purchasing power of downstream weaving are not as good as before.
- Related reading
Cotton Futures Were Mixed By &Nbsp, Because Investors Were Gasping For A Slight Drop In Cotton Prices.
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