The business club reported on March 1 that the Zhengzhou PTA** turbulence closed on the 29th and the main contract 1205 closed at 9,070 yuan/ton, up by 22 yuan/ton. Suffered by profit-taking and demand concerns, PX pressure fell, PTA cost support weakened, but still higher than the spot price, the macro-market focus turned to the European Central Bank (ECB) second round of long-term re-operation (LTRO). Under the expectation of releasing liquidity, global stock markets and commodities tend to be strong. The PTA industry is still faced with the conflict between strong cost support and weak demand. Overnight crude oil closed higher, Zheng Zheng PTA is expected to continue to maintain the pattern of shocks.
Crude oil prices on the New York Mercantile Exchange (NYMEX) closed higher on Wednesday, reversing previous losses. Crude oil prices fell earlier because of government reports that the US crude oil inventories last week increased more than analysts had expected, and the Fed’s Ben Bernanke’s remarks prompted the market to launch a new round of “quantitative easing†policies. The expectations of the measures have weakened. The price of light crude oil for delivery in April rose 52 cents to settle at 107.07 US dollars per barrel, or 0.5%.
In the domestic market, the polyester filament market is still dull and the transaction is very general. The prices on the market remain stable, but the variety shipments are uneven. At present, the purchase of downstream companies is still very cautious. The lack of purchasing power to support the polyester filament market is not optimistic. The current situation of production and sales of spinning plants is uneven, and the upstream raw materials are oscillated. The spinning factory has a high inventory of polyester filaments to strive for market share. The price promotion market will be delayed, and the overall polyester market in the afternoon market will continue its weak trend. It does not rule out that there will be a slight downward trend in the silk price.
On the downstream side, the production and sales performance of polyester filaments in Jiangsu and Zhejiang are mixed, and the production and sales of mainstream enterprises are maintained at around 6-8 percent. However, due to the different prices of the company's specifications, the production and sales of low-cost companies can be made flat. Xiao Shao Polyester market went high, and a few companies with high quotation were downgraded; Polyester mainstream enterprises in Wuxi did not offer a quotation, and the price of transactions was 100 yuan/ton.
In the spot market, the PTA market conditions in North China are temporarily stable. The market offer price is around RMB 9050-9100/ton. The downstream manufacturers' bid price is around RMB 8,950/ton. The actual negotiation price is around RMB 9,050/ton. The sellers reluctantly sold at low prices, and the atmosphere of the market trading was dull. The actual negotiations were ordinary. PTA East China domestic market is dull. The price of the seller’s offer is around 9,000-9050 yuan/ton, and the downstream bid price is around 8950 yuan/ton. The actual negotiation price is around 8950-9000 yuan/ton. The atmosphere of market transactions is flat and there are not many actual discussions.
Crude oil prices on the New York Mercantile Exchange (NYMEX) closed higher on Wednesday, reversing previous losses. Crude oil prices fell earlier because of government reports that the US crude oil inventories last week increased more than analysts had expected, and the Fed’s Ben Bernanke’s remarks prompted the market to launch a new round of “quantitative easing†policies. The expectations of the measures have weakened. The price of light crude oil for delivery in April rose 52 cents to settle at 107.07 US dollars per barrel, or 0.5%.
In the domestic market, the polyester filament market is still dull and the transaction is very general. The prices on the market remain stable, but the variety shipments are uneven. At present, the purchase of downstream companies is still very cautious. The lack of purchasing power to support the polyester filament market is not optimistic. The current situation of production and sales of spinning plants is uneven, and the upstream raw materials are oscillated. The spinning factory has a high inventory of polyester filaments to strive for market share. The price promotion market will be delayed, and the overall polyester market in the afternoon market will continue its weak trend. It does not rule out that there will be a slight downward trend in the silk price.
On the downstream side, the production and sales performance of polyester filaments in Jiangsu and Zhejiang are mixed, and the production and sales of mainstream enterprises are maintained at around 6-8 percent. However, due to the different prices of the company's specifications, the production and sales of low-cost companies can be made flat. Xiao Shao Polyester market went high, and a few companies with high quotation were downgraded; Polyester mainstream enterprises in Wuxi did not offer a quotation, and the price of transactions was 100 yuan/ton.
In the spot market, the PTA market conditions in North China are temporarily stable. The market offer price is around RMB 9050-9100/ton. The downstream manufacturers' bid price is around RMB 8,950/ton. The actual negotiation price is around RMB 9,050/ton. The sellers reluctantly sold at low prices, and the atmosphere of the market trading was dull. The actual negotiations were ordinary. PTA East China domestic market is dull. The price of the seller’s offer is around 9,000-9050 yuan/ton, and the downstream bid price is around 8950 yuan/ton. The actual negotiation price is around 8950-9000 yuan/ton. The atmosphere of market transactions is flat and there are not many actual discussions.
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