Open low chose low PTA start adjusting

Crude oil WTI: 97.4(-2.19), Naphtha: 999(-9), MX: 1309(+1). Asia PX: 1539(-9) USD, which goes to PTA (9290,-132.00,-1.40%) and the cost is 8959 RMB/T. PTA cash goods in the domestic market is up to 9470(+90), Taiwan cargo offers 1222(+15), import cost is higher than domestic price which raises 304 to 9744 RMB/T.

U.S. July.22 the EIA crude oil price moved up by accident, meanwhile S & P lowered ratings of Greece to "CC" and the U.S. dollar rebound which make the cured oil futures lowered to 97.40 USD/BARREL. The PX price is adjusted slightly, 26th the quotation of east China PTA market continues to go up, the offer is more than 9500 RMB/T, downstream price is up to 9350-9400 RMB/T, close price is about 9450 RMB/T. Downstream market, the quotation of spinning polyester spun yarn factories in east China market is stable, semi-dull polyester spun yarn factories offer 1.4D at 12650-12910 RMB/T, Jiangsu&Zhejiang market offers at 12700-12750 RMB/T. The trading atmosphere is flat and turnover of polyester spun yarn is stable.

 

Today PTA adjusts trend on schedule, open low and close low, the close price is at 9518 RMB/T. when the prices fall back to 9500, the quotation will jolt. We propose to have a short-term trading.