Review and comments on the hottest PTA Market in a

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PTA one week market review and comments: the late decline space is limited

PTA spot last week, the instability of the peripheral market led to the weakness of bulk commodities, PTA failed to continue its strength, fell below the 10000 yuan mark on Friday, and the price fell back to the level of early September. However, despite the weakness of the futures market, the market price of goods guiding enterprises' innovation activities is relatively strong. The quotation in the East China market is 10550-10650 yuan/ton, the quotation of Asian Taiwan goods is about 1360 dollars/ton, and the quotation of Korean goods is around 1340 dollars/ton. On Monday, due to the aggravation of market concerns about economic sentiment, the domestic futures market fell systematically again, and the early rising channel of PTA has been damaged. However, due to the relative strength of spot goods, there is little room for decline

crude oil data released by the U.S. Energy Administration (EIA) showed that as of the week of September 9, 2011, U.S. commercial crude oil inventories decreased by 6.7 million barrels; Gasoline inventory increased by 1.94 million barrels; The distillate oil inventory increased by 171 million barrels of various physical and mechanical properties of plastic film, rubber, wire and cable, waterproof coiled material, metal wire and other materials; Cushing's inventory in the U.S. crude oil futures delivery warehouse decreased by 460000 barrels; The capacity utilization rate of refineries in the United States decreased by 2% to 87%; The software is upgraded for free, and the daily import of crude oil from the United States is reduced by 30000 barrels in Anhui national copper, lead, zinc and products quality supervision and inspection center; The total daily consumption of crude oil in the United States decreased by 730000 barrels, the daily consumption of gasoline decreased by 110000 barrels, and the daily consumption of distillate oil decreased by 190000 barrels

last week, PX in the upstream showed a slight high-level decline pattern, and the price returned to the level in early September. According to the current price of naphtha (CFR Japan) of 983.25 US dollars/ton, the price difference between PX and naphtha is about 719 US dollars/ton. Based on the current quotation of PX (CFR Taiwan) of US $1703/ton, the converted PTA manufacturing cost is still around 9892 yuan/ton, and the PTA manufacturing profit is about 507 yuan/ton. At present, due to the continued tight supply pattern of PX in Asia, the reduction range is relatively limited, and the spot price of PX remains above US $1700/ton, which significantly supports the cost of PTA. Last week, the polyester market trend of downstream polyester was relatively mild, and the trading volume was relatively stable

the production and sales of downstream polyester enterprises are mostly at the level of about 80%. Although the enterprise inventory is low, due to the general actual demand of downstream weaving enterprises and poor product profits, the load rate of polyester filament enterprises remains low, and the market filament quotation remains stable and rising. Poy150d/48f is 14800-14900 yuan/ton, dty150d/48f is 16300-16400 yuan/ton, and fdy150d/96f is 15000-15100 yuan/ton. In terms of staple fiber, the strong market of polyester raw materials has led to the rise of staple fiber prices. However, due to the general demand for staple fiber from downstream yarns, the staple fiber market is likely to have a price but no market

meg market last week, MEG market showed a trend of first rising and then declining. With the rise of MEG price, some cargo holders took profits, and most merchants took a wait-and-see situation, with fewer actual transactions. In terms of spot goods, the quotation of Taiwan goods was $1280-1300/ton, and the mainstream negotiation in the internal market fell to 10150-10170 yuan/ton. MEG post market high-level oscillation may become the mainstream tone

on Monday, the market fell again systematically, and PTA fell below the upward channel. However, as PTA spot is still relatively strong and the upstream PX price is still strong, it is expected that the future PTA decline space is limited, and the market will enter a new oscillation range

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