Weak Demand For Downstream Restricts &Nbsp, PTA Or Shocks Adjustment.

Zhengzhou PTA futures fell 8 days, while the main 1201 contract closed 8078 yuan / ton, or 22 yuan. Although the downstream market continues to be weak, it has suppressed PTA, but the domestic macro in October. data Favorable expectations, short profits and stable PX and other factors support the formation of the price. In addition, the $95 on the crude oil station will also give PTA a boost. Technically, the MACD index turns green and dead ends, but the 8000 below is the obvious supporting position. Overnight crude oil continues to pull up and is expected to maintain short-term shocks in the near future.

New York Mercantile Exchange (NYMEX) crude oil futures closed 8 consecutive fifth consecutive trading days, the settlement price close to 97 dollars per barrel, due to tight supply of crude oil and a series of macroeconomic factors to boost oil prices. NYMEX December light crude oil futures clearing price rose $1.28 to $96.80 a barrel, or 1.3%. ICE December Brent crude oil futures contract settlement price rose 44 cents, to $115 a barrel, or 0.4%.

Crude oil demand in the US is at a low level and supply has declined, which has been relatively low in recent weeks. crude oil Import volume and Stock Heavy consumption led to a decline in stock levels below the average of five years, and crude traders saw the tightening of crude oil supply in the short term as a sign of higher oil prices. Meanwhile, analysts say the resignation of Italy's prime minister Berlusconi will be seen as a favorable factor for oil prices. There are reports that Berlusconi has promised to resign after Italy's parliament approved the EU's economic reform plan. In addition, worries about political fallout around Iran's nuclear issue are also contributing factors to higher oil prices.

On the spot side, the PTA market showed a weak trend of adjustment. The intention of individual shipments in the internal market basically adhered to about 8300 yuan / ton, but the buyers handed in about 8100-8150 yuan / ton, and the mainstream negotiated to 8200-8250 yuan / ton level. On the outside side, Korean goods buyers handed in about 1060-1065 dollars / ton, and the actual negotiations were basically at this price. The buyers of Taiwan goods were about 1080 dollars / ton, and the actual turnover was relatively small.

Downstream, the market of polyester and silk in Jiangsu and Zhejiang has been lukewarm, and the production and sale of mainstream enterprises has reached 6-8. But in general, the downstream demand is still weak, and the market is weak. Xiaoshao polyester Market Center of gravity fell, POY decline in two to six hundred, DTY, FDY, a small number of enterprises temporarily stable, falling prices of enterprises in more than one to two hundred; Shengze polyester center of gravity fell, a local mainstream enterprise DTY total 200-300 yuan / ton.