129771772392593560_34Hexun homepage established mobile phone version of the stock/fund comprehensive information of agricultural products of micro-blogging news blog spot rolling news channel reported outside the industrial focus column in the CFTC positionProblems getting started with futures prices traded futures position conversion tool for financial calendar investment skills basic knowledge comprehension Futures Forum line hexun.com Futures Forum team during the selection of experts > body font size print RSS on March 25, 2012: 53lai source: China Securities journal author: Jin Tao Jin Tao main 1209 PTA futures contract $ 9,000 location drop since early March, is now in the vicinity of $ 8,600 constructing consolidation platform, medium-term bottom in sight. Although inventories remained high, however, with the continuing high crude oil prices, PX supply tight in the upper and lowerTravel demand has improved, prices continue to fall in the period limited space. High oil prices PX supply tight crude oil prices after years in New York with the callback, but always to the above US $ 100/barrel. Although it is on the market with regard to countries such as Saudi Arabia to supply more oil to market rumors constantly, but it should be noted that OPEC countries to maintain the price above $ 100Will is clear, oil prices will remain high for some time. As raw material in the upper of the PTA and PX prices directly affect the PTA. In General, the PTA and PX prices there is some conversion, namely PTA=0.665*PX (including VAT) 1200. Therefore, PX price of PTA production costs,PTA fall space is also limited. Compared with the PTA can increase production in 2012, a large number of new, PX new capacity is low, PX and PTA capacity-building cycle cause a gap PX for a period in the future.
����Even if the next PTA capacity utilization fell PX supply tight patterns for the year will not be reversed. Downstream consumption warmed upIn January-February this year above designated size in clothing shoes and hats, knitting textiles per cent increase in retail sales of 12.8%, 9.4% fell in the same period last year. From the perspective of National Bureau of statistics data released, downstream of the PTA does not seem optimistic, this is also important markets bearish PTA price reasons. However, the demand for consumer goods due to their inherent rigidity,Economic downturn response is not sensitive to time of only four quarter 2008 economic recession, textiles and consumption of consumer goods have fallen sharply. From the moment, the macro does not show signs a hard landing, so downstream of the PTA needs a large area disappear less likely, a share in the near future textile stocks outperform also confirms our view. Autumn/winter clothing enterprises setGoods are held one after another, from the perspective of the feedback information
tera power leveling, does not as a whole is pessimistic, instead affected by seasonal sales stimulation in autumn and winter, signs of warming occurred in March for apparel and textile industry. After two sessions, became the focus of the work of this year to expand domestic demand. Recently, the Ministry of Commerce issued the circular on 2012 year consumer promotion activities carried out throughout the country organized the firstA national consumer promotion month activities, activities from April 2 to May 4. Accompanied by related departments to ensure the introduction of a new expansion of consumer policy
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diablo 3 power leveling, high intensity led by domestic consumption will occur in the late promotion.
����There is reason to believe that, for the second quarter will be better than the first quarter. PTA manufacturers limiting the insured fell in early in the process, notOutgoing PTA manufacturers breaking device stop message, PTA manufacturer, after all, losses cannot be kept. PTA unit of new capacity is expected in the market higher this year, but judging from the current situation, new capacity into production is unsatisfactory, hang two sets of 2.5 million tons of equipment deferred until the end of the third quarter, Xiang Lu petrochemical plant put into production may continue to put off. Because, ifProduction of the product in a negative profit status, put in new capacity is heavily in expanding the losses. Although some view is that, in the case of PTA inventories remain high, manufacturers limiting the insured have little effect, but look at the 2011 four seasons of decline can be found, since November 2011, overall inventory of the PTA under pressure had not significantly reduced, byManufacturers limiting parking, PTA has 7,800 Yuan/ton low huizhang almost as much as $ 1000. Therefore, traders cover their willingness to be reluctant to sell out to the spot market, strong on the premise of economic risks are great, low shipping price losses rather than wait.
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