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Cotton Is More Than &Nbsp; PTA Keeps Declining.

2011/2/28 15:23:00 39

Last week, Zhengzhou PTA futures continued to decline, of which the main 1105 contract opened at 11870 yuan / ton, the highest 12068 yuan / ton, the lowest 11244 yuan / ton, closing 11446 yuan / ton, down 424 yuan or 3.57%.

The political turmoil in the Middle East has led to the global financial market turmoil, investors fled uneasily, and with the influence of the macro atmosphere and the sharp drop of cotton in the internal and external markets, PTA continued to decline, and the downstream was due to high raw material costs and labor shortages.

demand

Slow recovery.

Short term PTA weakness is expected to continue.

New York Mercantile Exchange NYMEX crude oil futures closed higher on the 25 th, closing price close to $98 a barrel, the oil market continues to pay attention to Libya's violent clashes.

The New York Mercantile Exchange's April crude oil futures contract settlement price rose 0.60 US dollars to 97.88 US dollars per barrel.

ICE Brent crude oil futures contract settlement price rose $0.78 to $112.14 a barrel.

Oil prices rose 14% on the 25 day of the week, and the trading oscillation was affected by the interruption of oil production in Libya.

However, the trend of oil prices was relatively mild on the 25 day.

The rule of Libya leader Al-qaddafi is facing increasing challenges. Investors are worried that if the situation changes again, it may push up oil prices.

Cotton tends to deteriorate in the near future.

PTA price

Form a drag.

Influenced by factors such as the possible regulation of new [17.91 -1.21%] and the tightening of weekend policy, the main varieties of cotton market have broken trend.

As the raw materials of textile and clothing industry, the positive correlation between the price of cotton and PTA is very significant. Therefore, the adjustment of cotton price to a large extent will drag on the formation of the PTA price.

On the spot side, the PTA market in East China is mild, and PTA futures continue to go down. The spot offer is near 11450 yuan / ton, and the factory's delivery intention is near 11300 yuan / ton, and the market talks focus on 11350 yuan / ton.

The Asian PTA spot market is dull, and futures continue to decline. Taiwan's offer is at $1480 / ton, and enquiries are limited. It is expected that the intention of negotiation is $1470-1475 / ton, and that of Korean goods is 1460-1465 dollars / ton.

Downstream,

polyester

Slicing continued to remain volatile, and was dragged down by the external situation instability and PTA futures decline. The market continued to wait and see, and trading was slack.

At present, Jiangsu and Zhejiang Dachang quality semi gloss chip quotation is more than 14000 yuan / ton in March acceptance, part of the lower reported 13800 yuan / ton in March, acceptance, solid trading, the overall trading is not active, a small number of small and medium-sized in cash 13500 yuan / ton near the paction.

In addition to policy factors, the slow improvement of downstream demand has also restrained market enthusiasm for PTA to a certain extent.

After the festival, the starting rate of the main weaving bases in China remained low, and the market expectations for terminal stocking did not reach the expected level.

The production and marketing of polyester Market in China is in a doldrums. Most factories in Jiangsu and Zhejiang are 2 to 3. Some of them are slightly higher than 5 to 7.

At the same time, the recent parking repair program launched by some polyester manufacturers has also increased the expectation of PTA's short term demand.