May 19Th PTA Early Comment: Crude Oil Fell Again &Nbsp; PTA Rebound Frustrated

Yesterday, the PTA price was sharply lower, but then it quickly pulled up in the short profit margin. At noon, with the sharp rise of the stock index and the rebound of the overall commodity side, the price continued to rise and recover. From the trend, the PTA price rebounded and rebounded under the profit margin. There was still a demand for further rebound in technology, but the overnight oil slumped into a new pressure. On the operation, we can continue to wait and see.

Upstream, the New York Mercantile Exchange (NYMEX) crude oil futures contract fell for sixth consecutive trading days, closing at a new low since September 29, 2009. NYMEX June light crude oil contract fell 67 cents, closing at 69.41 U.S. dollars / barrel, or 1%. The highest value of the contract was $72.52, with a minimum of $69.20.

On the 18 day, oil prices rose by more than 3%, mainly due to a slight stabilization in the financial market and the extinction of investors' worries about Greek debt and European sovereign credit. The Greek government announced that it had received 14 billion 500 million euros of loans from the European Union, and that the financing needed by the state in the near future has been guaranteed. On the 17 day, oil prices fell 2.1%, closing prices hit a 5 month low.

Tom Bentz, an analyst at Paris bank in New York, said: "although oil prices are likely to rebound at any time, it seems unable to maintain the rally at the moment." Bentz The market's fear of shrinking future demand and the expected rise in US crude oil inventories will continue to suppress oil prices. He also said: "the 18 day's market shows that the basic trend of the oil market is still playing a role."

Polyester chip market remains weak, polyester, polyester and short market is weak.

Domestically, the export of domestic bottles of water bottles has dropped. The factory quotes mostly at 1280-1290 US dollars / ton FOB main port. Buyers still wait and see. The negotiable range is 1270-1280 dollars / ton FOB, and the turnover is light. South Korea's offer also fell to $1290 / tonne FOB, and the buyer's bid level was below $1270 / ton FOB. The market for PTA and MEG remained weak. Because of the recent sharp fall, low price exploratory enquiries increased, the atmosphere slightly improved, and polyester fiber prices continued to decline. Affected by the above factors, the market prices of water bottles in eastern China continue to decline. The factory quotes are mostly 10400-10600 yuan / ton cash or short distance delivery. The mainstream talks are 10400-10500 yuan / ton, lower 10300 yuan / ton, and the trading atmosphere is light.

In addition, yesterday, the market of polyester staple fiber in Jiangsu and Zhejiang was weak. The manufacturer's main quotation is near 10400 yuan / ton yuan / ton, and talks about maintaining 10200-10300 yuan / ton, and the downstream enquiries are scarce. Because polyester raw materials prices continue to decline, today's Jiangsu and Zhejiang polyester market is still vulnerable to decline, Xiaoshao regional decline is obvious, the magnitude of 100-200 yuan / ton. Now polyester POY mainstream talks about 10800-10850 yuan / ton, polyester FDY at 12100 yuan / ton, polyester DTY at 12450-12500 yuan / ton nearby.