PTA Will Be Easy To Fall, But The Market Will Not Be Good.
Zhengzhou PTA futures fell slightly in May 10th. The main contract 1109 opened 9656 yuan / ton, closing 9622 yuan / ton, down 2 yuan / ton, turnover 1047900 hands, holding 211154 hands.
Overnight crude oil prices rose, cotton prices rose, and market speculation that China's inflation situation improved, supporting PTA trend.
However, the East China electricity shortage and the appreciation of RMB are unfavorable to the PTA downstream demand, and the pressure of domestic PTA capacity expansion in the medium term is bigger.
Expected market outlook
PTA
It will be easy to fall and difficult to rise, focusing on the 9860 front line pressure.
New York commercial Futures Exchange (NYMEX) June crude oil contract rose 5.37 or 5.53% on the 9 day, and the settlement price was $102.55.
Investors fear that the flooding of the Mississippi River may affect refineries in Luis Anna S and Tennessee, causing gasoline futures to rise and help drive crude oil futures.
The Chevron Co said that one of the two crude oil treatment plants in the refinery in Mississippi was on fire and has now been extinguished.
The reliable outlook for global economic growth and the prospect of a weaker dollar also support the rebound in crude oil futures prices.
At home, the National Bureau of statistics will announce the main macroeconomic data in April on 11.
Some analysts believe that due to the apparent decline in vegetable prices and the initial rise in commodity prices, the CPI increase in April may be flat or slightly down from last month.
In addition, a 3 - year central bank ticket or reissued on Thursday will reduce the frequency of the required reserve ratio and reduce the systemic risk of future funds.
Market, Shengze chemical fiber market,
PTA spot
Prices continue to decline, MEG prices are down, semifluid polyester chips, large gloss polyester chip prices sinks, CDP slice prices down, polyester bottle prices fell.
On the market, half light section cash mainstream is in the 12300 yuan / ton, the mainstream chips are in the 12250 yuan / ton, the CDP slice Market spot paction price in 13300 yuan / ton six months acceptance, the PET bottle piece market generally delivers the paction price at 12800 yuan / ton.
Downstream, upstream polyester stock prices continue to sink and downstream.
Weaving
Enterprises are basically cautious in terms of quantitative production, while spinning manufacturers will continue to sell prices in an effort to gain market share.
Shengze a mainstream polyester factory FDY products fell 400-500 yuan / ton.
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