PTA’s Narrowly Fluctuates Rebound still Exists

WTI up to 98.05(+0.62)；naphtha up to 973(+16)，MX up to 1208(+10)。Asian Pup to 1405(+25) dollors，amount to PTA(9228,182.00,2.01%),the cost is 8371 Yuan/T。Sell market PTA up to 9030(+180)，sell market produces1156.5(+18)，import cost 9337 Yuan/T，inside and outside prices differs -307.The working rate for PTA equipment is97(+0)%，downstream working rate for polyester is 85(+0)%。The producing and selling in the mainstream factories in Jiangsu and Zhejiang Provinces are quite impressive, most of which is 100%-150% , some up to 200%,，Part of the factory price increase to two hundred in the afternoon.

    Influenced by the decending of inventory and the beforehand inspire of QE3,WTI continue to go high on Wednesday; Naphtha, MX and PX inflate by a wide margin, and significant downstream polyester production and marketing situation improved obviously. Speak of prompt goods, on july 13, PTA shows a mudest rise in East China domestic market, offer is in 9000 yuan/T,but bid under 8900 yuan/T, the sell market is unwilling to sell out,holding the wait-and-see attitude,only few deals accepted. In the downstream market, East China direct spinning polyester market is going steady, and The 1.4 D mainstream of the half short light staple fiber is about 12400-12650 yuan/ton.The arrivial price of Zhejiang market is 12550-12600 yuan/Ton. The downstream market buy the products according to the needs,the shipping Qty keeps little and steady.

      PTA rose sharply yesterday and caught enough attention, to digest to yesterday’s quick rebound, the situation this afternoon slightly goes better, but not strong enough. We think this situation is the rebound of the oversold, although the downstream turns better, but not much changes appears in the whole fundamental. Therefore, if overdraft too much rebound space in the short time, the rebound time will shorten. We except the Concussion slow rebound will play the main part.