Comment: Short Term Price Will Remain Oscillating.

Market Review

European investors are worried about the long-term financial situation of the US, making the US dollar go further, and the crude oil prices keep falling overnight. Affected by this, today's Zhengshang Office PTA The main contract was 1105, and the opening price was 9470, the opening price was 9470, the intraday price rose sharply, the enthusiasm was high, the highest was 9594, the lowest was 9438, the afternoon price shock weakened, and finally ended at 9442. Compared with the previous trading day, the settlement price fell 36 points, or 0.38%, with 614230 hands in volume and 165656 hands in positions.

Two. Upstream and downstream market information

1, the continued rise in US bond yields has led the US dollar to fall back on Plateau oil.

US Treasury yields continued to rise, attracting more investors to buy dollars, and the market expected Ireland's tight budget in 2011 to be approved, and the US dollar rose against other currencies, which also led to a decline in crude oil futures. The US Energy Intelligence Agency (EIA) released a monthly market report on 7, which projected global oil demand growth in 2011 to 10 thousand barrels lower than last month. EIA estimates that global oil demand in 2011 will grow by 1 million 430 thousand barrels per annualized year. According to EIA, global crude oil demand will reach 87 million 780 thousand barrels next year, and 86 million 350 thousand barrels in 2010. Next year, us daily consumption will increase by about 200 thousand barrels to 19 million 260 thousand barrels.

The New York Mercantile Exchange NYMEX crude oil futures contract for January 2011 was 87.71 U.S. dollars / barrel, compared with the previous one. spanaction The closing price of the day slipped $0.98, and the February contract was $88.26 / barrel, closing at a low price of $0.96 yesterday. ICE Brent crude futures contract settlement price fell $0.06 to $91.39 a barrel. Jan crude oil futures The contract settlement price fell 0.69 US dollars to 88.69 US dollars, or 0.8%, and the contract rose to 90.76 US dollars per barrel, the highest level since October 8, 2008.

2, PX surged sharply compared with the previous trading day.

On the 7 day, the closing price of Asian PX was 1307.00-1308.00 USD / tonne FOB Korea, 1322.00-1323.00 USD / ton CFR Taiwan, the price rose by 43.5 US dollars compared with the previous day.

3, polyester chip prices increased slightly, polyester polyester short market weak finishing

Polyester raw materials cost price basically maintained, East China polyester bottle tablets center of gravity is stable, individual factories raise prices slightly, the market turnover is still light. Today, the mainstream PET bottle factory price quotations rose slightly to 11900-12000 yuan / ton factory, and the discussion center also rose to 11800-12000 yuan / ton level, the negotiation space is not big, the higher 12000 yuan / ton short distance delivery, the single negotiable focus can be as low as 11700 yuan / ton individual spanactions, because the downstream demand is still weak, and the market is troubled by the expected interest rate increase, which makes the market once again show wait-and-see sentiment.

The staple market in Jiangsu and Zhejiang provinces is weak and collated. The mainstream quotation is 12800-14000 yuan / ton, and the focus of negotiations is maintained at 12800-13300 yuan / ton. The wait-and-see atmosphere is strong and the purchasing enthusiasm is poor. Zhejiang Xiaoshao area polyester filament mainstream manufacturers reported stable and stable, individual structural adjustment, mixed with each other, but the overall market turnover atmosphere is weaker than yesterday. Polyester factories are mainly due to inventory pressure, and some of the actual spanaction process has preferential treatment. Today, production and sales are maintained at 100-150%, individual factories are on the 200% side, slightly lower in 6-7, downstream and traders are still on the sidelines.

Three. Spot market observation

In the afternoon, the PTA spot market in Asia was in a weak atmosphere. The Taiwan product offer was near $1170 / ton, and the negotiation area was near $1160 / ton, and the spot sale of Korean products was close to $1140-1145.

In the afternoon, the PTA market in East China was warmer. The seller's offer in the market was over 9300 yuan / ton, and some enquiries were in the range of $9230-9240 / ton, and the market mainstream talks started near 9250-9280 yuan / ton. {page_break}

Four. Market comment

On the whole, because the US Treasury bond yield continued to rise, investors bought large amounts of dollars, the US dollar rose sharply to other currencies, crude oil prices continued to weaken overnight, and PX prices rose sharply. In Asia and East China, the stock market has been warmer. The price of polyester chips in the lower reaches has increased slightly, and the price of polyester staple fibers has been disadvantaged. Technically, today's PTA main contract TA1105 low and low, after yesterday's Yongan and other Futures Company significantly increased positions, today's early market prices soared, broke through the 5 day moving average, but the afternoon price was dragged down by the weakness of the A share market, the price was severely frustrated, the market changed from more to less, turnover increased significantly compared with the previous trading day. Operation, the short-term price will continue to maintain the shock of empty thinking, it is recommended that investors sell short, short day operation.