PTA Opens High And Returns Empty Sheets To Continue Holding.

Zhengzhou PTA futures opened higher on the 8 day, and the main 1409 contract closed 5990 yuan / ton, down 48 yuan / ton. PTA's operating rate has risen to more than 8, and new capacity is expected to be put into operation. The oversupply structure will continue to increase. yesterday Period price The bottom touches up, and the 6000 short lines support, but the downward trend is unchanged and the pressure is 6100. Empty bills continue to hold.

The New York Mercantile Exchange (NYMEX) crude oil fell slightly below the $101 a barrel on the Asian market on Thursday, maintaining most of the gains on the previous day, and oil prices in Europe and the United States rose more than $1 a day, due to an unexpected drop in US inventories. US crude oil futures in June slipped 0.01 US dollars to $100.76 a barrel.

The data released by the General Administration of Customs show that in April, exports of US $188 billion 540 million, an increase of 0.9%; imports of US $170 billion 90 million, an increase of 0.8%; a trade surplus of US $18 billion 450 million and an expansion of 1.8%. In April, the leading index of foreign trade was 41.9, rising by 0.2 on the basis of 0.4 improvement last month, indicating the coming period. Exit The trend towards better is more obvious.

Spot market, East China PTA Spot market The market atmosphere was deadlocked, the offer was delivered to 6030-6050 yuan / ton, and the delivery was sent around 6020 yuan / ton. The demand for polyester in the lower reaches was low in the near future. The price fell more than before. The polyester industry chain was weak, and the market mentality was not good.

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Domestic trend: on the 7 day, Zheng cotton 1501 contracts were sorted out slightly, opening at 15995 yuan / ton, closing at 16020 yuan / ton, down 50 yuan / ton compared with the previous trading day, trading volume decreased slightly, and the positions increased 182 to 128024 hands.

The trend of outward Trading: cotton futures fell on Tuesday, and the day's gains were reversed, as investors released their positions before the US government announced Friday's first comprehensive forecast of supply and demand in 2014/15. The most active ICE-7 month cotton contract fell 0.77 cents, and the whole day was narrowed to less than 1 cents.

Message side:

1, the US Department of agriculture's foreign agricultural service (FAS) report shows that India's 2013/14 export volume is higher than that of April, and is expected to increase from 7 million 700 thousand packages in the previous year to 8 million 800 thousand bales.

2, as of April 30th, Pakistan's cotton processing volume was 2 million 278 thousand tons this year, the second highest level in 3.7% years compared with the same period last year.

On the spot side: the cotton index 3128B price is 17471 yuan / ton, up 1 yuan / ton compared with the previous day.

Conclusion: domestic cotton spot price remains weak, and the cotton price is negative, but the decline of cotton planting area restricts the future price of the annual contract. Technically, the Zheng cotton 1501 contract has been maintained sideways, with a short-term support of 16000 yuan / ton. Short term wait-and-see is appropriate for operation.