On October 22, the morning review showed that the

  • Detail

Morning comment on October 22: the previous action can be weak, PTA rose and fell

Zhengzhou PTA futures rose slightly on the 21st. The main 1101 contract closed at 8580 yuan/ton, up 34 yuan or 0.4%. Affected by the strength of crude oil and the decline of the US dollar overnight, the market as a whole is improving. In addition, the pattern of abundant global liquidity remains unchanged, and China's interest rate hike has little impact on the market, and PTA still has upward momentum. However, the fall of crude oil overnight and the rebound of the US dollar in late trading may suppress the trend of futures prices. In the medium term, in view of the good support of the upstream cost of fundamentals and the strong spot and downstream markets, the strong pre acceptance of cotton has also boosted the supplier's performance, and PTA can still hold a long-term view in the later stage

crude oil futures on the New York Mercantile Exchange (NYMEX) closed lower on the 21st, as the market rekindled concerns about the growth rate of the global economy and was dragged down by the late rebound of the US dollar. The settlement price of December crude oil futures on the New York Mercantile Exchange fell $1.98 to 80.5 a barrel. The higher the upper limit temperature is, the higher is $6, down 2.4%. The contract hit a low of $80.09 during the session. Traders said that the interruption of the market outlook, the decline of the stock market and the rebound of the US dollar made the crude oil futures fall to the key 80. So why are manufacturers pushing hard for heavy metals and glass? A large part of this is related to the propaganda strategy of manufacturers. If the dollar falls below this level, crude oil futures may fall further. U.S. economic data and oil demand data also made traders worried about the prospects for U.S. economic recovery

the closing price of Asian PX on the 20th was 1211 00 USD/ton FOB Korea, 1226 US $00/ton CFR Taiwan, the price fell by US $21 compared with the previous day

in terms of news, China's CPI in September increased by 3.6% year-on-year and 0.6% month on month; In September, PPI increased by 4.3% year-on-year and 0.6% month on month; The GDP in the third quarter increased by 9.6% year-on-year, and the GDP in the first three quarters increased by 10.6% year-on-year. Basically in line with market expectations, but the possibility of CPI continuing to rise may cause market concerns about further government regulation

in terms of spot goods, the atmosphere of PTA spot market in Asia is strong, and there are few active offers in the market. The inquiry price of the buyer of Taiwan products is US dollars/ton, and the seller's reluctance to sell is obvious. The negotiation is above 1050 US dollars/ton. There are not many actual transactions. East China PTA market atmosphere is strong, the spot price is 8450 yuan/ton cash, the buyer inquiry is positive, the mainstream negotiation is carried out around 8400 yuan/ton, and the market trading atmosphere is good

in the downstream, the semi-finished slicing market in Jiangsu and Zhejiang is mainly stable, and the quotation of mainstream factories is still much, which is at 264.8 yuan/ton in cash or accepted in March, but some of them are reduced and offer actively. In fact, the focus of negotiation is in the range of yuan/ton, and the downstream procurement is reduced. The polyester staple fiber market in Jiangsu and Zhejiang is stable, and most mainstream enterprises wait and see. At present, the polyester staple fiber market quotation is yuan/ton, and the negotiation focus is around yuan/ton, and the transaction is slightly weak. Polyester Market in Jiangsu and Zhejiang shows a differentiation trend. POY and FDY were deadlocked as a whole, and POY of individual enterprises fell by 100 yuan; DTY in Xiaoshan region generally rose by 100 yuan

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI