Cost Support Increased &Nbsp; PTA Continued To Rise.

Zhengzhou PTA futures closed on a narrow basis in early trading on 21 th, while the main 1201 contract opened at 9500 yuan / ton, closing to 9518 yuan / ton, up 40 yuan, 649400 hands in turnover and 357034 hands in positions.

Overnight crude oil continues to rise, and PX continues to accelerate. PTA Cost support is enhanced. But the uncertainty of European and American debt problems lingers, Chinese official release needs tightening policy, and cotton trend is not good enough, which makes PTA trend under pressure. Technically, the 60 day moving average above the higher pressure. Short term PTA will continue to test the 9500 pass pressure and maintain the shock pattern in the medium term.

New York Mercantile Exchange (NYMEX) crude oil futures 21 day electronic disk fell slightly, failed to continue overnight rally. EU officials will hold a key summit to encourage investors to be cautious before that, but last week's crude oil depots dropped beyond analysts' expectations, limiting the drop in oil prices. As of 11:30 Beijing time, NYMEX's delivery of light crude oil futures in September fell 19 cents to $98.21 a barrel, or 0.19%.

The strong price of PX will support or reappear the cost of PTA. In recent days, the restart of the Huizhou aromatics plant of CNOOC is still unclear, and the sellers are reluctant to sell the goods. The market in the second half of the month delivered at 1485 US dollars / ton CFR Taiwan / China, closing at 1490 US $/ ton. 8 In September, OTC delivery rose to $1495 / ton CFR at 1490 US dollars / ton CFR. The expectation of tight supply of PX in the future has spread to the market.

Spot market, PTA spot The market price is strong. At present, China Eastern market offers more than 9300 yuan / ton, and the delivery rate is more than 9200 yuan / ton. At present, the selling price is less than 9250 yuan / ton, and the price is much lower than that of the 9250 yuan / ton. The negotiation basically maintains at 9250-9300 yuan / ton, and heard that 9300 yuan / ton has been reached. In terms of us gold plate, the market is more active today, the Taiwan commodity offer is kept at 1200 yuan / ton, and the market delivery is also up to 1190 U.S. dollars / ton, and the negotiation is carried out at about 1195 U.S. dollars / ton.

This year, the PTA industry has about 4 million 500 thousand tons of new capacity. However, look at the upstream and downstream of PTA. industry Chain, PTA downstream polyester industry this year's new capacity is also about 4000000 tons, and with the polyester production capacity has been launched, the monthly output of polyester has also climbed steadily, for the current new PTA capacity can still be well digested.