News side, the People's Bank of China announced that from January 20, 2011, the raised deposit-taking financial institutions of RMB deposit reserve ratio by 0.5 percentage points. The increase from December 20, 2010 raised the deposit reserve ratio by 0.5 percentage points from a very short time, after the deposit reserve ratio rise will reach a record high of 19%. Short-term liquidity crunch countries will suppress the market process.
the New York Mercantile Exchange (NYMEX) crude oil futures electronic trading in Asia 17 steady at 91 dollars / barrel at the top, after a slight rise at the weekend, as strong U.S. stock market performance. As Beijing time 11:30, NYMEX 2 month crude futures reported $ 91.4 / barrel, down $ 0.14, down 0.15%. U.S. commodity markets 17 Martin Luther King Day holiday.
Recommended reading product was in the fifth wave form has been reversed
· sugar fundamentals facing the style change in the domestic price of copper on the market more staggered walking upstream and reasonable price of sugar by 2011 under 5800 yuan central PTA strongly supports the high profile Spring Run Copper & adjourned to see the million mark campaign Jingchuang: strong metal will be adjusted upward again [the domestic futures market] [position analysis system]
PTA downstream products of unprecedented prosperity in the state. Especially the PTA and its upstream products PX. From both supply and demand side, PTA adequate supply capacity, while the downstream demand is now the demand has been larger. However, there are rumors that the market makers with a deadline of polyester 15th of this month. It is difficult to assert whether the PTA this week will be substantially reduced physical demand, but generally optimistic about the market late, even if a sudden stop spot purchases of polyester production is expected to hold the goods on the market has been good business mind, than the probability of large-scale sell-off low. On the fundamentals, it is still profitable PTA prices.
parts of Asia since January PX plant planned shut down for maintenance, in addition to the basic PTA plant to maintain the current plant load at full load, making the PX supply of goods on the market a bit nervous. Lower prices also boost the PX PTA market traders optimistic attitude, making goods between traders last week, hands down more frequently, to a certain extent, pull up the market price of the Asian PX. In addition, some manufacturers unplanned stop, making the supply on the market to further tension, leading to a week, PX prices have soared.
Zhengzhou, January 17 PTA futures closed up slightly in early trading. Main 1105 contract opened 10,846 yuan / ton, closing 10,798 yuan / ton, up 20 yuan / ton, volume 218,400 hands, positions 238,484 hands. International crude oil rebounded on Friday, PTA spot prices continued to rise, combined with the rigid requirements before the Spring Festival stocking has not been fully met, the overall base for the good, the larger the probability to continue rising, but on Friday night to adjust the deposit reserve ratio indicates that countries regulators to adjust for the determination of price stability, there is a big short-term market systemic risk, PTA may be under pressure to adjust. But the PTA is stronger fundamentals, downside is limited.
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