August 2, 2011 Zhengzhou PTA goes up 0.83%

Zhengzhou PTA futures contract rises up 0.83% today, end up with 9742 yuan/T, crude material’s supply in the upstream is affected by the news that Taiwan plastic stop produce.

    August 2, 2011,in Nymex, crude oil futures in September dropped $0.81, or 0.85%,the settlement price is $94.89，the White House support the Temporary rise debet up limit.to avoid the debet default contract once boosted the price.However, the global PMI rate is lower than estimated, which prove the the decelerated growth of the global economy. American manufactorting industry’s groth is the lowest these two years. Because of the shrivel of new orders, the rate droped to 50.9, the lowest since July,2009. Whit the concern that the global economy may slow down the growth,the drop of euro cause those products which priced in dollars become more expensive for the non-American investors. This also push the crude oil to call back.The Price drop of crude oil will cut the cost of petrifaction, and do harm to the future price.   
    August 1, 2011,price of PTA spot goods rose up, effected by the fire disaster of plastic in Taiwan, the price of MEG sharply rise up.
    Cleanse silk spinning factory inventory haven’t form pressure, and the price of the raw material upward trend is clear, but due to limiting power factors, cleanse silk market wait to see light prevail, water spray, knitting and weaving, the enterprise using stock. Cleanse silk market opening prices appears show and flat, spinning factorys’ price remains unchanged.