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Nanhua Futures: PTA Price Will Rebound In Short Term Or Continue.

2010/7/10 15:48:00 23

External commodities

The continuation of the rally, coupled with the strong surge in the stock market today, has led to a rebound in the whole commodity market. After the PTA market opened up in the early trading session and experienced a certain reduction in sales, it began to continue to shake up and finally close to the highest price of yesterday.

The demand for replenishment of order goods in the downstream polyester market has increased, pushing the PTA spot market up steadily, while the continuous rebound of the stock index also supports the overall rebound trend of the commodity market. It is expected that the rebound will continue in the short term.

Yesterday, NYMEX crude oil continued to rise at a price of 75 US dollars / barrel as a result of the decline in stocks and favorable economic data, pushing the stock market up. Naphtha rose 17 US dollars to 629-631 US dollars / ton CFR Japan; heterogeneous MX rose 2 US dollars to 737-738 US dollars / ton FOB Korea; PX: Asia was stable at 830-831 US dollars / ton FOB Korea; Europe was stationary at 863-867 US dollars / ton FOB Rotterdam; the United States was stationary at 868-873 US dollars / ton FOB US Gulf.

Near the weekend, though

Downstream products

The recent sale is good, the product price also has the promotion, but the PTA internal disk spot morning atmosphere is stalemate, the seller quoted price is still near 7100-7150 yuan, the buyer delivers 7050 yuan / ton nearby, the morning paction is still stalemate, yesterday later in the 7080 yuan / ton nearby has a small number of pactions.

Near the end of the week, PTA turned pale.

Han Chan

Goods in stock

For $840-845 / ton, the buyer delivered $835 / ton, and the deal was deadlocked.

Spot trading is also in the range of US $855-860 / ton.

MEG market quotation is higher, but the market has the highest intention is not strong, very few pactions.

MEG internal offer rose to around 5950-6000 yuan / ton, but the buyer's intention to catch up was not high. The big single delivery was near 5850 yuan / ton, and the small single pass was 5900 yuan / ton, which was a stalemate.

MEG generally, the delivery is near $715 / ton, and the buyer's delivery is at 705 US dollars / ton or above. The bonded delivery is close to US $710 / ton, and a single bond in early trading is traded at 712 US dollars / ton.

Polyester Market: polyester filament market, downstream intermittent stocking cycle arrived, some factories polyester POY, FDY up 50-100 yuan / ton, polyester DTY quotes overall stability; direct spinning polyester and short market is still calm, in addition to individual manufacturers yesterday low price after a large number of shipments, less stock price quotation pull up, today's quotation is generally stable.

Coupled with today's strong stock market rebound, the entire stock market rebounded, and the PTA price in the early morning opened up after a certain sell off, and finally began to close at the highest price of yesterday. Recently, the demand for replenishment in the downstream polyester market has increased steadily, and the PTA spot market has steadily risen, and the continuous rebound of the stock market has also supported the overall rebound trend of the commodity market. The PTA price rebounded synchronously, and broke through the 5 day average line and returned to the 10 average line. At noon, there was an increase in the price of the warehouse and the price fluctuation at the end of the week was also magnified. It is expected that the rebound will continue in the short term, and the operation will continue to be held for a short time, and there will be greater pressure near the 7450 price. External commodities continue to rally.