PTA rises and falls short-term has stabilised signs

Zhengzhou PTA** opened higher and lower on the 22nd, with the main 1301 contract closing at 7402 yuan/ton in early trading, down 38 yuan. The news on the macro level was relatively calm. Crude oil rose again overnight after a slight correction at high levels. PTA downstream polyester prices weakened, corporate stocks rebounded slightly, terminal consumption improved poorly, raw material PX remained relatively strong, and formed strong cost support for PTA. PTA was still weak after the weak market yesterday. However, after falling sharply in the previous few days, there are signs of stabilization and the 6400 line has strong support.

New York Mercantile Exchange (NYMEX) crude oil ** Asian electronic trading on Wednesday held at a three-month high of $ 97 a barrel, under the guidance of the European Central Bank (ECB) will take measures to reduce the cost of borrowing in Spain and Italy to boost. As of Beijing time At 11:30, NYMEX crude oil fell by 0.02 US dollars/barrel to 96.82 US dollars/barrel in October. The Asian PX market price dropped by US$4.5/ton, FOB Korea was US$1432/ton, and CFR Taiwan was US$1453/ton.

On the macro level, although the European Central Bank has denied that it will take more measures to intervene in the market, investors are increasingly optimistic that they will formulate new strategies to counter the continued spread of the regional sovereign debt crisis. Domestically, on August 21, the central bank launched a 150 billion yuan 7-day reverse repurchase and 70 billion yuan 14-day reverse repurchase operation in a routine open market business operation with interest rate bidding. The interest rate for the bid was 3.40. %, 3.60%.

Spot market, PTA market conditions slightly stalemate, the current domestic trade market offer price in the domestic market at 7900 yuan / ton, bid price at 7800 yuan / ton, negotiated price at 7850 yuan / ton, the actual market transactions are limited; US gold Taiwan production Shipment offer price is 1020 US dollars / ton, bid price is 1005 US dollars / ton, the actual negotiation price is maintained at 1010 US dollars / ton; South Korean cargo cargo offer price is near 1010 US dollars / ton, bid price is 995 US dollars / Ton, negotiated at a price of 1,000 US dollars / ton, the seller reluctant to sell at low prices, negotiations slightly stalemate.

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