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Crude Oil Fell Again &Nbsp, PTA Still Has A Downward Trend.

2011/6/14 17:22:00 66

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Zhengzhou PTA futures opened on the 13 day.

The main 1109 contract closed at 9396 yuan / ton, down 96 yuan / ton.

Upstream support is not strong, although downstream production and sales have improved, but the support strength is limited.

New capacity has been put into operation, adding bad pressure to PTA.

In addition, the atmosphere of financial market is somewhat declining, and many people are not popular.

On the technical side, the RSI index shows a strong selling atmosphere, while the MACD double line closure shows that the market is short of strength.

Overnight crude oil has fallen again, and US cotton has mixed up. It is expected that short-term PTA will still have a downward trend.

New York

Mercantile Exchange

(NYMEX) crude oil futures closed lower again on the 13 day, because the S & P's downgrading of Greece caused the market to worry about slowing economic growth or weakening oil demand.

NYMEX July light crude oil futures contract settlement price fell $1.99, to $97.30 a barrel, or 2%, the lowest level since May 17th.

Europe's premium to US crude oil futures hit a record high of US $21.80.

ICE Brent crude oil futures contract rose 32 cents in July, closing at $119.10 a barrel, or 0.27%.

Intercontinental Exchange (ICE) cotton futures closed on the same day on the 13 day. Analysts said the sell-off of investors at the end of the month had weighed down the new contracts, while the tight supply of cotton to be delivered had boosted the contract in recent months.

Asian PX rose 4 to 1429-1430 U.S. dollars / ton FOB Korea, Europe fell 26 to 1447-1451 U.S. dollars / ton FOB Rotterdam, the United States steady at 1475-1480 U.S. dollars / ton FOB Gulf of America.

On the spot,

East China PTA

The spot market continued to fall, and the offer was mostly 9500 yuan / ton, with a sporadic delivery of 9400 yuan / ton or below. The market is still a buyer's market. The negotiation is around 9450 yuan / ton, and the firm offer is very light.

There was a slight drop in the spot market atmosphere. The general offer for Taiwan products was around $1200 / ton. The firm negotiated a turnover of about 1190 US dollars / ton; the Korean spot spot generally offered around 1190 US dollars / ton, and the negotiations were about 1180 US dollars / ton. Traders were more cautious and wait and see, and the traders were slightly reluctant to sell.

Downstream market, polyester and silk production and sales in Jiangsu and Zhejiang structural decline, more reluctantly flat or slightly super, individual higher 150%, some FDY factory slightly lower 7-8, a few lower 3-4.

Zhejiang

Polyester filament

Stability is the main structure, with some structural rise of 100 yuan, supported by tight inventory, and some varieties are still in good production and marketing.

The polyester Market in Jiangsu has been stable, and some factories have been partly raised. Some varieties have dropped slightly because of the high price.

The mainstream factory prices in Jiangsu and Zhejiang continue to rise, and the atmosphere in the market is relatively calm.