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Panic Is Widespread; &Nbsp; PTA'S Rise Is Limited (12.7).

2010/12/8 16:10:00 56

Overnight, NYMEX crude oil futures fell from 26 months high, but the market ended slightly higher. The main oil futures in January rose 19 cents or 0.21%, at $89.38 a barrel, and the intra day trading range was 88.56-89.76 dollars.

The interest rate sensitive window is approaching, and panic continues to permeate, which has lifted the price of oil prices on Tuesday.

PTA

The rise is weak.

The main contract TA105 opened 60 points low, opened at 9548, the first encounter of air pressure, weak down, to explore the 9400 below the downhill consolidation, noon, the Shanghai stock index together red, bullish confidence slightly recovered, the price steadily higher, ending at 9554.

Monday PX external disk

Spot market

As the market closed, the Asian PX rose by 1 US dollars to 1263.5-1264.5 USD / tonne FOB Korea and 1278.5-1279.5 USD / tonne CFR Taiwan / China.

Asia's PTA spot market rose slightly, and Taiwan's supply rose to $1190-1200 / tonne, and the actual talks started at a range of US $1170-1175 / tonne.

The PTA spot market in East China is strong, and the individual offer has risen to 9400 yuan / ton, and the inquiry atmosphere is good. The mainstream talks are about 9250-9300 yuan / ton, and the actual paction is limited.

Ethylene glycol import spot market consolidation is mainly based on the fact that there is a near ocean shipping quote firm at $1040 / ton.

CFR

The main port of China actually negotiated close to 1020-1025 US dollars / ton.

The East China ethylene glycol domestic market has gone up and down, the profit taking plate has been positive, the offer has been steadily declining, and the small single pass has been raised at 8300 yuan / ton, and the negotiation has reached 8300-8350 yuan / ton.

The market situation of Jiangsu and Zhejiang slicing is keeping up, the trading atmosphere is slack, and the semi mainstream chips are quoted in the mainstream price range of 11300-11500 yuan / ton (cash or acceptance). The focus of the paction is around 11300-11400 yuan / ton (cash or acceptance). Although some manufacturers have a higher inventory, the intention of low price shipment is not high, and the lower reaches are mainly temporary wait-and-see. The market mentality has not yet been restored and the spot trading volume is limited.

The market of polyester and silk in Jiangsu and Zhejiang provinces has been stable for a while. The production and marketing situation of the manufacturers has improved. The resistance of the shipment has weakened. The mainstream offer of POY150D/48F is 12900-14200 yuan / ton, and the mainstream offer of FDY150D/96F is 13200-14100 yuan / ton, and the mainstream offer of DTY150/48F is 15400-16800 yuan / ton.

In the Jiangsu and Zhejiang provinces, the market of polyester staple fiber is weak, and the mainstream quotation is 12800-14000 yuan / ton, and the focus of negotiations is maintained at 12800-13300 yuan / ton.

A sensitive interest rate window will be introduced around the weekend. At the same time, the central economic work conference scheduled to be held in the middle of this month will lay the keynote for the opening year of the 12th Five-Year plan.

In terms of industrial chain, although the production and marketing level of downstream polyester products is picking up (most of them are 100-150%, some factories are higher than 200% or less, 6-8 of them are locally lower), but the stock of polyester factories is still at a high level of 10-25 days, and the lifting of PTA spot price rebounded slightly.

To sum up, we believe that the short-term PTA is hard to find, and the panic in commodity market and the lack of good momentum in the industry chain will dominate the market.