Zheng PTA hardly out of business by an independent market

Friday, the domestic commodities futures market, “Lvfeihongshou,” Zheng are hardly out of the PTA by the independent market, the main contract to 4688 yuan in early trading TA0901 Tiaokongdikai, the sideways commence immediately concussion situation, the price closed slightly during the start-fat Force up to a maximum up to 4750 yuan, but the apparent lack of confidence in the long, and its re-Jiancang drag down a view shocks price, to 4682 yuan closed at closing, yesterday’s settlement price was down 76 yuan / ton, a decrease of 1.60 percent. Volume today than Thursday has been shrinking, 9584 Jiancang on hand.

The upper reaches of the market, as the U.S. government released the latest economic data showed that crude oil demand downward trend of the fact that the New York Mercantile Exchange (NYMEX) 1 month’s delivery of light sweet crude oil futures prices slightly down 0.44 U.S. dollars to 54 U.S. dollars / barrel, a decrease of 0.81 percent. PX area, PX prices continue slow the momentum of the recovery in Asia PX offer up 9 U.S. dollars to 619-620 U.S. dollars / ton, making the cost of PTA support may not surface earlier as weak. However, the lower reaches of the city of yarn situation is still grim, serious backlog of fabric, weaving in some areas the rate of only 3-5 start into, Chun Disha demand is far from being satisfactory, coupled with the pressure near the end of business loan outstanding, and there are many small and medium enterprises in advance Factors such as holidays, so that Diduan demand may decline further. Moreover, in the current economic situation, China’s textile and garment exports face difficulties in the short term it is difficult to change; such as the rate cut, despite such frequent policy to rescue the market, boosting its effect should not be overestimated.

From today’s point of view changes in position, TA0901 long contract funds retracement obvious signs, or the market outlook will continue to maintain a low posture shock, short-term recommendations to the House helped temper mainly to short-selling operation.