Zhengzhou PTA Futures Rose Sharply On The 13 Th
Zhengzhou PTA futures rose sharply on the 13 day. The main 1105 contract closed at 9884 yuan / ton, up 374 yuan.
After China decided to raise the reserve requirement ratio of banks, the market still worried that China might take interest rate measures next night, crude oil prices rose sharply overnight, PX prices also rose sharply, spot prices continued to rise, and demand for polyester chips in the lower reaches improved.
It is expected that the short-term price will remain high and volatile, but there may be a pullback in the medium and long term.
New York business
exchange
(NYMEX) crude oil futures rose on the 13 day, and the oil exporting countries (OPEC) kept oil production unchanged last weekend.
The New York Mercantile Exchange's crude oil futures contract settlement price rose 82 cents to $88.61 a barrel, or 0.9%.
The contract was close to $90 a barrel earlier this trading day, but then fell back.
Peck held a meeting in Quito, Ecuador last weekend. Ministers of the member states decided to keep oil production quotas at 24 million 850 thousand barrels per day.
At the same time, the rise of the stock market and the weakening of the US dollar also provide some support for the oil price trend.
Moreover, despite inflation in November, China decided to maintain interest rates unchanged last weekend, which is also encouraging the market.
10 days in Asia
PX
The closing price is 1332.00-1333.00 U.S. dollars / ton FOB Korea, 1347.00-1348.00 dollar / ton CFR Taiwan, the price is up 15 US dollars compared with the previous day.
On the spot side, the Asian PTA spot market continued to rise, and Taiwan's goods and goods reported an individual high of $1180-1190 / ton. The buyer's enquiry increased, and the mainstream market negotiated near $1170-1175 / ton.
The atmosphere of PTA market in eastern China continues to rise. The market holder's offer is at 9450-9500 yuan / ton, and the buyer's enquiry atmosphere is positive. The mainstream talks started near 9400-9450 yuan / ton, and a firm offer was reached.
Downstream, Jiangsu and Zhejiang slices
Market quotation
Flat, downstream demand is still relatively small, slicing stocks gradually increased, but sellers reluctant to sell, semi extinction mainstream offer in the range of 11400-11500 yuan / ton (cash or acceptance), talk about the focus of the paction in 11300-11400 yuan / ton (cash or acceptance) near.
The staple market in Jiangsu and Zhejiang provinces is low and the market atmosphere is light. At present, the mainstream staple market of polyester staple is quoted at 13000-13500 yuan / ton, and the focus of discussion is 12300-13000 yuan / ton.
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