Multiple Pressures Suppress &Nbsp; PTA Continues To Land.

Zhengzhou PTA futures continued to land in early May 16th. The main contract 1109 opened 9456 yuan / ton, closing 9390 yuan / ton, down 30 yuan / ton, turnover 370200 hands, holding 213706 hands.

Crude oil rose slightly last Friday, and cotton and cotton mixed each other. PTA Landing slightly. Cotton is rising or supporting PTA recently, but in the medium term, there are still more uncertainties. Downstream polyester enterprises are faced with tight funds, RMB appreciation, and the coming summer peak power limit and the multiple pressure of terminal textile export tax refund. The cost of the whole industry chain is hard to be transferred. It is expected that PTA will be difficult to stabilize in the short term.

New York commercial Futures Exchange (NYMEX) crude oil futures 16, Asia's electronic disk fell nearly 1% to 99 U.S. dollars per barrel, after hitting a low of $98.35 a barrel, the 13 day of gains, because the dollar is supported by the Greek debt problem. As of 11:30 Beijing time, NYMEX crude oil futures in June fell $0.86 to $98.79 a barrel. Analysts said that the Kahn incident could pose downward pressure on the euro in the short term. The market is concerned about the euro group meeting later in 16. The meeting will provide direction for the further development of the euro.

PTA's direct upstream breed PX continued weak rebounding last week. As of Friday, the Asian market PX prices continued to rise slightly, but the rally has slowed. FOB Korea reported at $1545-1546 / ton. CFR Taiwan reported at 1565-1566 US dollars / ton. According to market sources, after the Chinese government plans to increase gasoline production, it is expected that the output of PX will decrease in June and July, and the market price may rise. However, the price of the PX market is still dragged down by the downstream PTA and polyester market, and the trend is still not optimistic.

The spot market, at present, the PTA factory profit is very small, only enough to maintain capital, the market supply is more adequate. domestic Spot market Negotiations remained at around 9500 yuan / ton, down 4.5% from the same period last week. At present, downstream polyester polyester production and marketing has not improved, and the PTA market has a strong market force. At present, the profit of PTA is about 100 yuan / ton, which is at the cost line. Due to the adverse production and marketing, it is expected that the market may still have room for decline this week. In the medium term, the spot market will be hovering around 9000 yuan / ton.

Downstream, the downstream staple market continued to fall, on demand procurement, the mainstream quotations of polyester Market in various markets declined, and manufacturers' shipments were sluggish. The polyester chip market continues to be in a messy pattern, with different prices and uneven prices. The previous high prices have dropped, and the market atmosphere is weak. Slice stock is on the high side.

The limited electricity policy of terminal enterprises affects the demand for raw materials, and basically keeps the quantity of production, and the production and sale rate of polyester is difficult to rise.