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July 1St PTA Early Comment: Sluggish Demand &Nbsp; PTA Continues To Weaken

2010/7/1 16:04:00 53

Zhengzhou PTA futures in June 30th low open after a small high, the end of the plate concussion.

The main 1009 contract

Closing quotation

7272 yuan / ton, down 78 or 1.06%.

Investors are worried about the global economic recovery and the market sentiment is low, and the commodity market is generally down.

At present, PTA is still in the "three high" situation with high profit, high opening rate and high inventory. Moreover, the market is worried about policy tightening and foreign trade situation. If oil price is not stable, PTA will fall faster or faster.

On the upstream market, the New York Mercantile Exchange (NYMEX) crude oil futures closed lower on the 30 th, as the oil product storage level was higher than expected and demand showed signs of continued weakness.

The New York Mercantile Exchange's August light crude oil futures contract settlement price fell 31 cents to $75.63 a barrel, or 0.4%.

The contract fluctuated at 74.39-76.83 US dollars per barrel.

The August contract fell from third consecutive trading days since 25, with a drop of $3.23 per barrel, or 4.1%, and the 25 day crude oil futures settled at its highest level since May 5th.

ICE August Beihai Brent crude oil futures contract settlement price fell 43 cents, to $75.01 a barrel, or 0.6%.

PET chip

Market climate

Light, polyester, polyester, short market stalemate consolidation.

The domestic export market of Aquarius tablets is not much. The factory quotes mostly at 1170-1190 US dollars / ton FOB main port, and talks to maintain US $1160-1170 / ton FOB.

In South Korea, the mainstream factories discussed the level of turnover at 1150-1170 US dollars / ton FOB.

The market atmosphere of PTA and MEG is light, and prices are dropping slightly. Fiber polyester is relatively stable.

Affected by these factors, the water bottle Market in East China continued to maintain stability. The factory quotes concentrated on 9600-9800 yuan / ton cash or short distance delivery, and the mainstream talks were 9500-9700 yuan / ton, which was generally traded.

The staple market in Jiangsu and Zhejiang is stalemate and manufacturers are in the mainstream.

offer

Maintenance of 9650-9800 yuan / ton, individual manufacturers to deliver the price is still around 10000 yuan / ton; negotiated close to 9600-9750 yuan / ton.

The market is dull and bad.

Affected by the weak external environment, the polyester Market in Jiangsu and Zhejiang provinces tends to be stable. Most enterprises maintain that only a small number of enterprises have increased their prices.

Now polyester POY mainstream talks about 11200-11250 yuan / ton, polyester FDY at 12250 yuan / ton, polyester DTY at 12600-12700 yuan / ton.

On the spot side, the Asian PTA spot market has a weak atmosphere. The spot offer for Taiwan is near $865-870 / ton, and the buyer's enquiry is at US $855 / tonne. The intention of the negotiations is near $855-860 / ton, and the Korean cargo talks are at $840-845 / ton, and the market is scarce.

The atmosphere of PTA market in East China is weak. Some of the market offer is 7100-7150 yuan / ton, and the lower part of the market is on the low side. The negotiation is near 7050-7100 yuan / ton, and the market is scarce.

PTA's internal and external spot market follows the decline. The price of the East China made material market is down 50 yuan / ton, and the seller's offer is 7100 yuan / ton, and the actual negotiation is about 7050 yuan / ton.

The external market is basically stable, and Taiwan shipping is quoted at 870 US dollars / ton, with a firm offer of US $855-860 / ton.

Although lower polyester stocks are low and market prices remain strong, raw material prices are weak and international oil prices are not good. PTA market is expected to remain weak in the short term.