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Zhengzhou PTA Futures 12 Days Down, Jiangsu And Zhejiang Polyester Filament Market Confusion.

2010/11/15 15:20:00 52

Zhengzhou PTA Futures Jiangsu And Zhejiang Polyester Filament

Zhengzhou PTA futures closed for 12 days.

The main 1105 contract closed at 10576 yuan / ton, down 558 yuan or 5.01%.

Because of the rising risk of sovereign debt in Ireland and the tightening of domestic monetary policy expectations, some of the more profitable positions and downstream purchases tend to be prudent, and PTA has fallen again.

In addition, the spot fell sharply and cotton.

Plunge

Also bad

Influence

PTA's early growth is too large, and PTA adjustment is not yet over.

Crude oil has fallen sharply, and PTA will continue to adjust in the short run.

New York

NYMEX crude oil futures fell sharply on the 12 day, reflecting the recent gains as the market worried about China or raising interest rates to control its growth rate.

NYMEX crude oil futures clearing price fell $2.93 in December, the lowest level since November 3rd, down 3.3% from $84.88 a barrel.

ICE Brent crude futures fell $2.68, or 3%, to $86.13 a barrel.

Analysts also believe that after the strong rise in the past few months, the price of crude oil should also have a callback.

Crude oil futures have risen by more than 20% since the end of August.

Crude oil prices fell 2.3% this week, due to a 12 day decline over the first few trading days this week.

Last week, the market's concern over Ireland's sovereign debt problem overshadowed the G20 summit in Seoul. Investors were worried that with the determination of the easing policy of the Federal Reserve (FED), the hidden problems of Europe would be exposed, and even the Greek crisis could be revived. The trend of the euro was also the focus of market concern and speculation.

The overall decline in commodity futures was dragged down by some bad factors.

Because of the 4.4% CPI released by the Statistics Bureau in April, the market is expected to further tighten monetary expectations. Food prices are a major factor in the rise of CPI. The government has frequently stated that it is necessary to control price rises. Cotton and sugar and other obvious varieties have become the focus of regulation.

Spot prices, the East China PTA market atmosphere is low, futures opening limit, spot market small offer in the vicinity of 9700-9800 yuan / ton, part of the buyers in the 9500 yuan / ton, the focus of discussion on 9500-9600 yuan / ton, the market is scarce.

The PTA market in Asia declined slightly. Futures opened at the end of the day, and the market was scarce. The buyers and sellers were in a stalemate. A small number of Taiwan bonded products were negotiated at $1200-1210 / ton, and the market was actually trading lightly.

On the downstream side, the staple market of Jiangsu and Zhejiang is stable, and the mainstream staple market is quoted at 20000-20500 yuan / ton, and the focus of negotiations is maintained at 19500-20000 yuan / ton.

The market is scarce.

The market of polyester filament in Jiangsu and Zhejiang is in chaos, some factories offer stable prices, and some factories have seen a big drop or discount.