Guo Yuan Hai Qin: Short And Cautious, Mainly &Nbsp; PTA Continues Concussion.

　　 today PTA Futures contract 1105 contract opened at 9490 in early trading, the highest 9562, the lowest 9448, closing 9560, 9 yuan higher than the settlement price of 6 yuan, turnover 316932 hands, positions 170922 hand, day increase warehouse 1440 hand.

Upstream: the decline in US unemployment has boosted the market sentiment. The market was tense in the early morning due to the failure of a catalytic unit in a refinery in the United States. International oil prices rose once in a while, but then the US dollar rose and the international oil price narrowed. 9, New York commodity futures exchange, Texas light oil January 2011 futures settlement price of $88.37 per barrel, 0.09 dollars higher than the previous trading day, trading range 87.71-89.42 US dollars; London intercontinental Brent crude oil futures clearing price in January 2011, 90.99 US dollars per barrel, up 0.22 US dollars compared with the previous trading day, trading range 90.27-91.64 US dollars. On the 9 day, the closing price of Asian PX was 1317.00-1318.00 USD / ton (FOB Korea); 1332.00-1333.00 USD / ton (CFR Taiwan), the price rose by US $20 compared with the previous day.

On the spot: the PTA market in East China is warming. futures The rise led to an increase in enquiry in the spot market. The seller's offer was near 9300 yuan / ton, and the mainstream talks started near 9250 yuan / ton, and the trading atmosphere improved. Asian PTA spot market atmosphere rose, Taiwan bonded goods offer $1170-1175 / ton, market enquiry atmosphere increased, mainstream talks in 1165 U.S. dollars / ton above, market trading atmosphere improved.

Downstream: Jiangsu and Zhejiang polyester semi gloss slice overall maintain weak shock pattern, the market mainstream quotation maintains in 11500 yuan / ton (cash or acceptance) scope, discusses the transaction center of gravity 11300-11400 yuan / ton (cash or acceptance) nearby, the market anticipation increases the interest rate to heat up, the downstream mentality is unstable, therefore the spot transaction volume is still very few, the factory mostly implements the contract primarily. Jiangsu and Zhejiang provinces Polyester and short Market The atmosphere is light, and the wait-and-see mentality is still strong. The main market quotation is 12800-14000 yuan / ton, and the focus of the transaction is maintained at 12500-13000 yuan / ton. Polyester market overall smooth operation, polyester manufacturers mainly shipped, the price began to loose 50-100 yuan / ton, market traders remain cautious, generally traded.

　　 Overall: international crude oil basically closed, PX rose, spot PTA slightly warmer, and the downstream market remained stable. Domestic policy is still expected to control inflation. Today, PTA opened up after a concussion, and went up slightly in the afternoon, closing at the upper level near the 5 day moving average, continuing to maintain the trend of turbulence consolidation. Judging from the ranking and changes of the 20 positions before and after the event, the overall discretion is mainly for both sides, and there is a large increase in the number of holdings. The downstream has stabilized slightly, but the traditional textile season has already passed, and the downstream market lacks confidence. The long-term trend of PTA is not optimistic. Pay close attention to domestic economic data release and related policy guidelines at the weekend.