PTA Continues To Rally

On the 2 day, PTA1105 began to rise sharply after a brief downturn in early trading, and finally ended up on the small line, continuing the rally and picking up its momentum.

The overall demand form of the market is still recovering, with more maintenance and upstream of the PTA plant in March.

External market: yesterday, NYMEX crude oil continued to rise strongly in the evening, breaking through the 100 yuan mark. Due to the escalation of the turmoil in Libya, the market is increasingly worried that more similar events may occur in the Middle East and North Africa, which will affect the supply of crude oil.

Naphtha fell 4 US dollars to 966-969 US dollars / ton CFR Japan; heterogeneous MX rose 11 US dollars to 1086-1087 US dollars / ton FOB Korea; PX: Asia rose 5 US dollars to 1655-1656 US dollars / ton FOB Korea; Europe rose 5 US dollars to 1793-1797 USD / ton FOB Rotterdam; the US increased 10 US dollars to 1775-1780 USD / ton FOB Gulf of America.

Internal market: today, PTA1105 in the early morning after a short fall down, began to shock higher, and finally closed in the small line, continue to rebound rebound trend, successfully stabilized on the short-term average, the paction smaller than yesterday.

PTA spot:

Polyester aspects: Polyester overall stability, individual factory part of the specifications up to 100 yuan, the lower reaches of the boot although the whole is acceptable, but the market is uncertain, resulting in low enthusiasm for procurement, wait-and-see atmosphere is still dominant; direct spinning polyester and short is also mainly stable, half light 1.4D mainstream cash offer 15000, less high quoted price 15500 yuan / ton, the paction is mainly negotiated.

After market judgement: under the driving force of cotton price rise, PTA continues to rally overall, though the downstream market is mainly on the sidelines recently.