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MEIKO Futures: PTA Short Term Rebound Has Not Yet Ended

2011/12/12 15:08:00 14

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Disk trend: PTA main 1205 contract opened at 8322 o'clock, the intraday concussion upward, late slightly callback, finally closed at 8390 points, compared with the previous trading day settlement price rose 6 points, turnover 834748 hands, positions increased 3618 hands to 340246 hands.

Upstream raw materials: 1, crude oil futures

Price

The NYMEX1 month contract rose by $1.07 to $99.41 a barrel, while the Brent ICE crude futures contract closed up $0.51 in January, closing at $108.62 a barrel.

2, PX price: Eurasian and European market prices fell as a whole, FOB Korea and CFR Taiwan both dropped slightly by 4 US dollars / ton to US $1428.5 / ton and US $1453.5 / ton respectively, while FOB Rotterdam fell 4 US dollars to 1306 US dollars per ton, and the Gulf of America fell 5 US dollars / ton to 1312.5 US dollars / ton.

Spot market: the PTA market is stable. At present, the mainstream offer in East China's domestic market is maintained at 8550-8600 yuan / ton, and the market delivery is also around 8450 yuan / ton, and the negotiation is expected to take place at 8450-8500 yuan / ton.

There are a number of bonded goods from the US gold platform. The offer is $1105-1110 / ton, and the downstream delivery is currently limited. The expected negotiation is maintained at US $1100 / ton.

About

The shipment of Korean goods was quoted at US $1095-1100 / ton, and the negotiations were held at US $1085-1090 / ton.

Downstream polyester: 1, filament, last week polyester filament market continued to rise, the weekend POY reported 11900 yuan / ton, FDY reported 12400 yuan / ton, DTY offer 13400 yuan / ton, daily production and sales can exceed 100, factory inventory cut day by day, the situation is quite good.

2, slice, slice the market paction center of gravity stabilized, Jiangsu and Zhejiang market half light section cash or March acceptance of self negotiation negotiations in 10550-10850 yuan / ton, glossy slice general cash or March acceptance of the offer quoted at 10700-11000 yuan / ton, downstream manufacturers take goods gradually reduced, recently to eliminate inventory mainly.

3, staple fiber, manufacturers offer stable, but by the low inventory of better support, the center of gravity slightly increased, the East China direct spinning semi gloss polyester staple fiber manufacturer 1.4D mainstream cash price in 11350-11500 yuan / ton, Zhejiang market general cash buyout to the paction price of 11250-11400 yuan / ton near the lower reaches to stabilize the goods, short staple general trading generally.

Market analysis: weaving enterprises concentrate stocking, downstream polyester

production and marketing

To the good, polyester market overall rise, PTA market driven by this, prices remain strong, the fundamental phase of improvement to promote PTA short term continue to rebound, but after the current round of stocking up, PTA by terminal demand weakness drag or will once again return to the weak, top pressure 8700.