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Positions Rose, PTA Low Rebound

2011/5/4 16:22:00 36

Market review: affected by external capital market during holidays, early market

PTA

A small open high in 10230, the price of the rapid dive after being pulled up again, the intraday price increases the volume of the warehouse upward, afternoon high and high volatility, late time again heavy volume, closed at 10314, the whole day rose 102, or 1%.

The main contract closed 515 thousand and 600 hands, increased 32 thousand and 200 positions to 215 thousand and 700 hands.

Fundamentals:

PX:4 28, the Asian market

Prices continued to rise slightly.

FOB South Korea 1601.5-1602.5 US dollar / ton, CFR Taiwan 1621.5-1622.5 US dollar / ton, up 3 US dollars / ton compared with the previous day.

Spot: the market situation in North China is dull, and the holder's offer is scarce. Some of the offer prices are about 10550-10600 yuan / ton, and the downstream enquiries are not good.

East China's domestic market is consolidated, and the price of the holder's offer is near 10550 yuan / ton, and the market atmosphere is dull.

The price of the imported spot market is stable. The price of Taiwan shipping is near $1340-1350 / ton. The price of Korean goods is about $1330-1340 / ton, but there is not much discussion.

Downstream: during May Day, MEG price adjustment, semi gloss polyester chip, big gloss.

polyester

Slice price consolidation, CDP slice price trend temporarily stable, polyester bottle price steady trend.

The overall performance of polyester market continues to be calm, production and marketing rate is 70-90% at average, generally better than expected, but the price trend shows ups and downs. During the three day long holiday of labor day, there is no vacation phenomenon in downstream spray weaving, but part of the warp knitting enterprises may take part in holiday parking for 30%.

At present, the procurement of downstream enterprises is still very cautious, and the lack of purchasing power support is not optimistic.

Manufacturers: Xiamen Xiang Lu petrochemical production capacity of 1 million 600 thousand tons / year PTA plant maintenance plan postponed maintenance until the end of June at the beginning of -7.

Fujian Jialong petrochemical production capacity of 600 thousand tons PTA device, scheduled for April 25th night parking inspection, the maintenance time of about 15 days.

Operational suggestions: from the technical perspective, whether the trend of the daily line deviates, or the overbooking of the weekly line, or even the support of the monthly line at the 10000 pass of the October average, shows that PTA will have a relatively strong rebound process. From the early downloading to the recent two days, it will reflect that the kinetic energy of the short selling market has been weakened, and the more dynamic energy is gradually gathering.

It is expected that in the near future, when the confidence of the capital market is gradually restored, the price will continue to rebound slightly, and it is expected that the latter will be close to the upper channel of the downstream channel again.

Operation has prompted 10000 near the establishment of more than a single bargain, at present more than one can still be further held.