PTA this week, the trend of shock

PTA this week, the trend of shock, the 0901 main contract Monday that the rapid opening up, as the capital of the intervention is very strong bull, all the way up, closed trading on the board, once opened, but quickly re-sealed in the trading board. PTA Xianyihouyang Tuesday, although the day before by the rise of the drive, inertia continues to rise, at the same time, the State Council for approval to raise some of the commodities and the export tax rebate rate for the downstream oil products, plastics (6735,95.00,1.43% of it) The board’s limit of four consecutive double boost, on the opening day of high red to 4654 yuan, but also to wear 10 on average, but not last, in the short and profit-taking pressure, and high platform diving, Quickly fell to a low of 4488 and then began to fight back long, the decline in the basic recovery, only to decline in the closing 50. After a day of soul-stirring up after the crash, Straddle the two sides entered a state of repair, the PTA Wednesday to maintain the basic shock sideways trend, gearing up substantial increase in volume, ready to launch a new round of battle. Thursday due to the drop in oil prices, PTA Dikaidizou, re-return average of 5 below. Friday overnight by NYMEX crude oil futures once again dropped 7.46 percent, at one stroke below the 50 dollar mark to 49.62 U.S. dollars / barrel of a drag, PTA Tiaokongdikai quickly dropped to 4320 yuan, followed by the multi-driven recovery Decline in afternoon trading before the end of the maintenance of the basic shock sideways, opening again in the afternoon, long under the strong push up fast, up shocks. Last week’s rate of 0.98 percent to close slightly up on 4532 yuan.

Compared with the PTA, this week, international crude oil market is still weak, appears on the 4th in a row down the market, only a slight rebound Friday. Led to the drop in oil prices is mainly due to many factors. First, the United States and overseas markets, poor economic data; Second, the U.S. repeatedly dropped, especially Thursday the Dow Jones Industrial stock price index and the Standard & Poor’s 500 index both hit the Internet bubble burst to a new low since ; Third, EIA released by the U.S. inventory of crude oil a week than the expected increase. These big blow to the confidence in the market, the market worries about the economic outlook for sustained increase, hence demand for crude oil more worrying, leading to oil prices fell again and again. Friday due to follow in the U.S. and oil futures fell Thursday after the drive has gone up, while Organization of Petroleum Exporting Countries (OPEC) Chairman Khalil, said Friday, OPEC “very likely” in the Dec. 17 meeting To make “important decisions” in order to stop the decline in oil prices. OPEC will be in the Algerian city of Oran meeting. Oil prices rebounded from a low of three and a half years, slightly higher. To put this in perspective, this week to 12.46 percent down to close the range of 49.93 U.S. dollars / barrel.