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East Asia Futures: PTA Downstream Is Extremely Bleak, Unable To Support PTA'S Rise.

2011/11/10 9:23:00 10

PTA1201 contract today, high and low, early

Slightly

Open at 8140.

The opening quotation

After a great deal of time to go, to the highest point today, after 8224 points all the way down, ending at 8114 points, today

Morning plate

PTA's total position decreased by 1580 to 494350 hands. Yesterday's trading volume dropped sharply to 1 million 400 thousand hands yesterday.


On Tuesday, New York crude oil futures rose 1.28 U.S. dollars to 96.80 U.S. dollars / barrel; Brent futures rose 0.44 U.S. dollars in December, closing at 115 U.S. dollars / barrel.

OPEC released the latest 07 November, a basket of oil prices to 111.08 U.S. dollars / barrel.

Compared with 06 days in November, it rose by US $1.12.

In November 8th, Asian PX prices rose 3 US dollars to 1431 US dollars / ton FOB Korea, and European PX prices basically stabilized at 1341 US dollars / ton FOB Rotterdam.

On the spot side, the external PTA is stable at 1180 US dollars / ton, and the PTA in the internal market is stable at 8250 yuan / ton.


On the whole, investors welcomed the news this morning. Italy Prime Minister Berlusconi promised to resign after the new budget was approved.

OPEC today released the global oil outlook report, which revised the global average daily demand of crude oil to 1 million 900 thousand barrels in 2015 to 92 million 900 thousand barrels. The market expects crude oil demand to be strong.

And investors are worried about Iran's nuclear program, pushing New York's oil price to its highest closing price in more than 3 months.

PTA downstream sales are extremely bleak and prices continue to fall. It is said that the downtime rate of medium and small bombs and textile enterprises has reached over 60%, and the downstream is still unable to support PTA upward. Technically, PTA is under pressure on the 5 day moving average, and is still in the downstream channel.

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