Cotton Suffered Another Setback: &Nbsp; PTA Within The Day
Zhengzhou PTA futures retreated sharply on the 12 day. The main 1201 contract opened at 8762 yuan / ton, closing to 8758 yuan / ton, down 148 yuan, 674300 hands in turnover and 255084 hands in positions.
Crude oil fell sharply overnight amid worries about Europe's debt crisis or spread.
Cotton was hit hard again today, further pressing down PTA.
Supply and demand side, Yisheng petrochemical PTA new capacity release has significantly increased the market supply, exacerbated the future market vacant expectations.
In addition, Zhejiang has begun to limit power to chemical fiber and textile enterprises, and the demand for terminal textiles has weakened.
PTA
The overall weakness, the rebound form has been basically destroyed, the bears are relatively active, and will soon return to the weak.
The New York mercantile futures exchange lowered its crude oil contract in August to $1.05 on the 11 day, at $95.15 a barrel.
China's CPI growth in June has reached a 36 month high. The price situation is unlikely to improve significantly in the past two or three months, and the tightening policy is hard to relax.
The US stock market has fallen by more than 1%, and the euro has widen its decline against the US dollar. Italy may become the next victim of the euro zone debt crisis, leading to a new risk aversion.
The domestic macro environment turned weaker. In June, the new RMB loan was 633 billion 900 million yuan, an increase of 15%, higher than that of economists.
At the end of 6, the balance of the country's foreign exchange reserves was 31975 billion US dollars, up 30.3% over the same period last year.
Combining the unexpected high of CPI data in June to a 3 year high, the market thinks that inflation pressure is unlikely to fall in the near future, import pressure is still relatively large, and global liquidity is relatively abundant. It is estimated that CPI will remain high in the three quarter, so anti inflation policy will not be relaxed.
Market, Shengze chemical fiber market,
PTA spot
The price is weakening, the price of MEG is lowered, the price of semi gloss PET chips, large gloss polyester chips is stable, and the price of CDP chips is adjusted.
polyester
Bottle price rises.
On the market, half light section cash mainstream in 12000/ tons, glossy slice cash mainstream in 12050 yuan / ton, CDP slice Market spot paction price in 13100 yuan / ton three months acceptance, the PET bottle piece market generally delivers the paction price in 12100 yuan / ton.
Downstream, spinning mill polyester stock pressure is not big, but the downstream market is in the off-season, grey fabric inventory gradually rising trend, downstream purchasing raw material enthusiasm is not high, polyester purchasing action slowed down.
Polyester market is stable, prices remain largely unchanged, and individual best-selling polyester varieties are moderately up-regulated.
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