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Yongan Futures: &Nbsp, PTA Strong Post Market Worries

2010/11/17 17:24:00 72

Polyester Filament In Yongan Futures Market

Quotation

review

:

Global textile network November 16th hearing Tuesday, PTA early morning small amplitude

Gao Kai

Finally, the concussion went up. Although the afternoon market was down sharply, PTA's performance was relatively strong, and it rose late.

The main contract 1101 opened at 10020, the highest 10500 in the day, the lowest 10000, ending in the 10328, compared with the previous day average price rose 314 yuan / ton, or 3.14%.

1523184 hands traded in the day, a sharp increase in positions 64318 to 211702 hands.

From the top 20 positions in the main contract, today's main force is increasing 28129 hands, increasing 21548 positions, and there are still big differences in the market outlook. The two sides are competing for 10000.

Spot market:

The spot market is stable today.

In the early PTA, the atmosphere inside the whole market was stable, and the spot offer was not much. After that, the futures trend recovered, and the atmosphere of the spot negotiation also improved slightly. The mainstream paction was launched near 9700 yuan / ton.

Afternoon futures consolidation, PTA spot market stalemate, spot trading shrinkage, spot turnover can be limited, some factories have low price enquiries, so the seller's low shipment intention is not strong, mainstream trading around 9800 yuan / ton.

The opening atmosphere of PTA was quiet for the first time in the morning, but the atmosphere was improved as a result of the sharp rise in futures market.

In the afternoon, PTA produced the spot quotation at $1200 / ton, and the buyer handed in about $1170-1180 / ton, and the deal started near $1180-1185 / ton.

The Korean stock spot was quoted at 1185-1190 US dollars / ton, and the buyer delivered us $1170 / ton at this price.

Upstream raw materials:

Crude oil prices remained stable overnight, and the downstream prices varied. PX rose slightly by 10 US dollars / ton, which has limited impact on PTA prices.

WTI fell slightly 0.02 to 84.86, Brent rose 0.36 to 86.70 dollars / barrel; naphtha rose 1 US dollars to 799-803 US dollars / ton CFR Japan; heterogeneous MX fell 23 US dollars to 1010-1011 US dollars / ton FOB Korea; Asia PX increased 10 US dollars to 1232-1233 U.S. dollars / ton FOB South Korea, Europe rose 10 US dollar to 10 dollar / ton FOB Rotterdam, the US rose US dollar to us dollar / ton FOB US Gulf.

Downstream market:

Tuesday, Jiangsu and Zhejiang provinces

Polyester filament

The market has steadily declined, the decline is narrower than before. Today, the overall turnover is slightly deviant. In some areas, POY production and marketing are slightly better, and the turnover in Xiaoshao area is still poor.

In Jiangsu and Zhejiang provinces, the production and sales of polyester and silk are not equal. Some POY sales are better than those in other cities. Most factories are still in the doldrums of production and sales, which are 5-6 to 2-3 and partly lower.

Cotton and PTA futures are lagging behind. Direct spinning polyester and short factories have begun to quote abroad. Some factories in Jiangsu, Zhejiang and Fujian have quoted cash from factories to 19500 yuan / ton.

Market sentiment is weak and traders' mentality is changing. Some of them are still selling at a low price. The price of the market is also more chaotic, but the market is scarce.

Polyester and short factories are still in short supply. Most factories continue to deliver pre orders. Factories have no sales pressure and external quotations are still high. Under the overall atmosphere, polyester and short will still maintain a price free market in the near future.

Due to the five stock pressure of the downstream filament, and the direct spinning polyester and short staple goods still more, so the downstream market prices will continue to remain relatively strong, while the polyester and short operating rate continues to rise, polyester operating rate has maintained a slight decline in the near future. In general, the PTA downstream market remains strong.

Comprehensive comment:

On the whole, the fundamental situation today is that the spot market is still stalemate despite the fact that the price is strong because of less supply.

The downstream filament has no stock pressure and even is out of stock. But after the previous surge, it continued to decline slightly today, but overall, the downstream market was strong.

As PTA's processing profit is still relatively high, the slight fluctuation of upstream PX has limited impact on PTA price.

The rise of cotton prices has a great effect on stabilizing the PTA futures market, and cotton and PTA are strong in the afternoon when the market plunged.

But if the market continues to plummet in the future market, the mentality of the whole market will be greatly affected, and the commodity may also become weak. Even if the PTA fundamentals are strong, it is still difficult to resist the pressure of the overall market as a whole.

In the near future, the market risk is large and the operation is within the day.