Upstream Raw Materials Rebound Helps Stabilize PTA Market

Zhengzhou

In the morning of 19, the concussion rose, and the main contract was 1209 yuan / ton, down by yuan / ton.

The international situation is complicated.

Raw material decline is the main reason for the further enlargement of the PTA space in the early stage.

For stable PTA

The role of mind is very obvious.

Especially after the end of the Greek election, the market panic was temporarily cooled, and the overall strength of the domestic market today has helped to increase the PTA rebound.

The New York Mercantile Exchange (NYMEX) crude oil futures continued to decline in June 19th, as the increase in Spain's bad debts made the market more worried. The European debt crisis is turning to a worse situation, thus further combating global oil demand.

As of 11:30 Beijing time, NYMEX7 month crude futures fell $0.04 to $83.23 a barrel.

Preliminary statistics show that the New Democratic Party of Greece won the battle with 30.1% support in Sunday's general election.

This means that the party will have 130 seats in the Greek Parliament.

At the same time, the pan HSI Movement Party will vote with you for 12.6% of the votes.

However, the yield of 10 - year Spanish government bonds has risen to over 7% today. This level of treasury bond yields has forced Greece, Ireland and Portugal to request international assistance for the first time since the establishment of the euro zone.

Bad news for the market.

Downstream, polyester demand preferences, most of the factory production and marketing this morning has more than 100%, indicating that the downstream market to enhance the enthusiasm of the stock, is conducive to slowing down the pressure on polyester stocks, to increase confidence in the opening of the polyester plant.

In addition, today's market tells us that a 600 thousand ton PTA device in Ningbo has been shut down for 5-6 days, plus the current PTA supply is tight. It can be considered that the recent decline in PTA supply may keep PTA strong.

In the spot market, the market of PTA in North China rose, the market quoted price was about 7400-7450 yuan / ton, the downstream manufacturers handed in the price of 7350 yuan / ton, and the actual price was around 7350-7400 yuan / ton.

There is a general market climate and few actual talks.

PTA in East China's domestic trade market is rising. The price of the holding firm is about 7350-7400 yuan / ton, and the lower price of the lower reaches is about 7300 yuan / ton, and the actual negotiation price is near 7300-7350 yuan / ton.

The market atmosphere is not bad.

Although the price of cotton futures is recovering, the domestic cotton spot price has not been affected by the combined effect, but has risen sharply. It has only increased slightly. Considering that the textile industry has entered the traditional off-season, the start-up rate has dropped significantly, cotton demand is weak, market confidence is insufficient, and downstream demand is still weak. Cotton prices may still be dominated by oscillations.

The price of imported cotton in China's main port rose slightly, and the varieties increased by 0.3-0.5 cents. Egypt's long staple cotton prices fell.

In recent days, rumours circulated in the market have become the main drivers of the rise in domestic and foreign futures prices. India's raising the minimum domestic support price also provides support for the international cotton price.

From the actual supply, the number of US cotton exports has long been bottomed out this year. Zheng cotton futures and ICE futures continue to open up.