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Beware Of Policy Risks: &Nbsp; PTA Or Weak Shocks.

2011/6/3 17:33:00 74

Zhengzhou PTA futures opened lower on the 2 day.

The main 1109 contract closed at 9620 yuan / ton, down 174 yuan / ton.

Crude oil fell sharply, weak economic data, and PTA showed a declining trend yesterday.

Although the recent production and marketing of downstream polyester factories is in good condition and the inventory has some consumption, PTA itself has no substantive advantages, and the market is worried that the central bank will raise interest rates, making the difficulty of PTA going up.

Overnight crude oil rose slightly, and US cotton continued to rise. At present, PTA is blocked in the previous gap 9860, and is expected to be short term.

PTA

Or will remain weak.

The New York Mercantile Exchange (NYMEX) crude oil futures closed slightly higher on the 2 day and stayed near the $100 mark. Driven by the weaker dollar, NYMEX's July light crude oil futures contract settlement price rose 11 cents to 100.40 U.S. dollars per barrel, or 0.11%, and the lowest intraday price dropped to 98.46 U.S. dollars.

ICE Beihai crude oil futures for July delivery rose $1.01, or 0.88%, at $115.54 a barrel in July.

Intercontinental Exchange (

ICE

Cotton futures closed at a one month high on the 2 day, and analysts said investors were buying because of a severe drought in Texas, the main cotton growing area.

Asian PX rose 2 US dollars to 1483-1484 U.S. dollars / ton FOB Korea, Europe in 1543-1547 dollars / ton FOB Rotterdam, the United States fell 1 to 1567-1572 U.S. dollars / ton FOB Gulf of America.

On the spot side, the East China PTA spot market is relatively quiet, the price is stable at 9650-9700 yuan / ton, buying and watching, a small number of counter offer prices are on the low level of 9600 yuan / ton, sellers at a low price slightly reluctant to sell, buyers and sellers game, negotiation or in the 9600-9650 yuan / ton interval.

The outside atmosphere is deserted, and enquiries are not widely available. The average offer for Taiwan products is at the level of $1225-1230 / ton, and the actual negotiation is close to $1215-1220 / ton.

Downstream market, Jiangsu and Zhejiang provinces

Polyester filament

Production and marketing is better, most of them can barely make a flat or slightly super, a few higher about 150%, and some slightly lower than 7-8.

Zhejiang polyester market continued to grow steadily, and production and sales were good.

Jiangsu's polyester has been steadily rising, and individual factories have increased 100 yuan in the afternoon, and the production and marketing are good, and the number of individual manufacturers is as low as 3 percent.

Direct spinning polyester short rebound nearly two days after the turnover slightly improved atmosphere, factory inventories have dropped.

Due to the general performance of downstream yarns, manufacturers are also cautious about receiving dishes, mostly based on small single replenishment.