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5 Days PTA Early Comment: Upstream And Downstream Continued Weak &Nbsp; PTA Is Not Optimistic.

2010/7/5 15:11:00 26

Zhengzhou PTA

Futures opened lower in July 2nd, and then higher.

Among them, the main 1009 contract closed at 7202 yuan / ton, up 2 or 0.03%.

As the recent weak economic data in China and the United States triggered the prospect of global economic recovery, market sentiment continued to slump, and the trend of commodities in the country was also under pressure.

The PTA market is expected to maintain a weak state in the short term as the upstream and downstream continues to be weak, the spot market is oversupplied and the international oil price trend is not favorable.

On the upstream side, the New York Mercantile Exchange (NYMEX) crude oil futures fell for fifth consecutive trading days for 2 days, and the week July 2nd was the biggest week since the beginning of May, because disappointing economic data continued to show that the economic recovery was stagnant.

The New York Mercantile Exchange's August light crude oil futures contract settlement price fell 81 cents to $72.14 a barrel, or 1.1%.

ICE August Beihai Brent crude oil futures contract settlement price fell 69 cents, to $71.65 a barrel, or 1%.

Economic confidence worsens and surrounds

The two recession

Worries have put pressure on oil prices all week, and two US economic data released on 2 may have failed to improve the economic picture.

Oil prices fell 8% in July 2nd.

The Independence Day holiday will be on the weekend. This is the peak of summer driving season. Gasoline demand is usually very strong.

However, the increase in car driving this weekend, and thus pushing up fuel consumption, failed to offset the pressure of adverse economic news.

Although employment in the US was close to expectations in June, the number of private sector employment in the second months was less than expected.

This is the first time the US Department of labor announced the decline in employment in 2010.

PTA spot

A slight drop.

A small amount of 7000-7050 yuan / ton, the buyer delivered 6900-6950 yuan / ton, but low price seller shipping enthusiasm is not high, business negotiations are expected to start near 6960-6980 yuan / ton.

PTA spot quotations are slightly down to 855-860 US dollars per ton, and the deal talks in 850-855 US dollars / tons, and the center of gravity is slightly lower than that in the week, but compared with the internal disk, the foreign disk performance is relatively stronger in the near future.

MEG internal disk basically stable, offer at 5850 yuan / ton on the side, factory delivery low in 5700-5750 yuan / ton, some traders handed in 5800 yuan / ton, a single in 5800 yuan / ton turnover, turnover concentrated in 5800-5850 yuan / ton.

Polyester market, most of the quotations of polyester factories in the mainstream factories in Jiangsu and Zhejiang provinces are stable. The price of some polyester POY factories in the local area is on the high side. The price is reduced by 100-200 yuan / ton, and some small factories are slow to sell, and the sales volume of some small factories is lower than that of the factories. The price of direct spinning is shorter and the price is lower than the quoted price, and the price is lower than 9500 yuan / ton.

Raw material prices continue to decline, while the downstream ester Market is locked in a stalemate, polyester production and sales fall, and demand for PTA is sluggish.

Recently, domestic PTA producers are driven by profits, and the operating rate is generally maintained at a level of more than 9, which results in a high historical supply in the domestic market.