Home >

South China Futures: PTA Approaching Early Lows

2010/7/2 16:18:00 43

Today,

PTA price

Once again weakened significantly, the early opening of the low opening immediately followed by a narrow shock, to the end of the ban, with the stock index and the overall weakening of commodities, PTA began to shock down, noon was once weak, short added more pressure.

The PTA price broke through the previous shock area yesterday, and today it continues to go a long way. In the light of the recent pressure of oversupply in the late PTA, the medium and long term slanting pattern is obvious.

Yesterday, NYMEX continued to decline slightly, although crude oil inventories fell more than expected, but the rise in the US dollar and the decline in US stocks and the increase in fuel oil inventories weakened the price again. The naphtha stabilized at 652-653 US dollars / ton CFR Japan; the heterogeneous MX fell 8 US dollars to 762-763 us dollars / ton FOB Korea; PX: Asia fell 10 US dollars to 876-877 US dollars / ton FOB Korea; Europe stabilized at 895-899 US dollars / ton FOB Rotterdam; the US fell 5 US dollars to 880-885 US dollars / ton FOB Gulf of America.

PTA on the spot spot trend is weak, and there are few buyers on the spot.

Some sellers were quoted at 7050-7100 yuan / ton. In the morning, due to weak futures, there was not much actual spot trading.

Relatively speaking, PTA external disk temporarily stable, Taiwan's spot products in the 850-855 US dollars, high-quality Korean spot products in the vicinity of 830-835 U.S. dollars / ton, some traders still have the intention to accept the dish, of course, polyester factory high price temporarily wait and see, and this price level near the general seller is still waiting to see it is not urgent to ship.

MEG inner disk

The atmosphere is general, the small offer is near 5850 yuan / ton, the enquiry intention has come down, the individual delivery is 5770-5800 yuan / ton, the paction has been started at 5800 yuan / ton, and some small bills have been sold near 5850 yuan / ton.

EG external enquiry atmosphere still exists, the offer at 715-720 U.S. dollars / ton, the delivery of goods around 710 yuan / ton, there are differences between the two sides, there is not much deal, negotiation may reach 710-715 U.S. dollars / ton, bonded individual reported 720 U.S. dollars / ton, high price buyer's intention is not high.

Polyester Market: most of the mainstream factories in Jiangsu and Zhejiang have stable quotations for polyester, and the price of individual polyester POY factories is down by 100-200 yuan / ton. Some small factories are slow to sell, and sales are generally reduced. Most factories are down, most of them are 5-7, 8-9 of them are higher than others, and some factories are lower than 3-4.

Today, the PTA price has weakened again, and the early opening of the market started a narrow concussion.

commodity

Overall weakening sharply, PTA began to shock downward, midday was weak, empty shorts increased pressure plate; from the trend, the price of PTA yesterday to break through the previous shock area, today continues to go a lot, with today's late PTA oversupply pressure, the middle and long term partial empty pattern is obvious, from a short-term perspective, with the continuous decline of the price, gradually approaching the low level near the initial stage, short-term or some support, but the overall downward pressure is still large, the operation suggests that the blank list can continue to hold.