PTA Market Daily (Sep 15, 2010)

PTA Spot
　　·Traded price of offshore spot goods: $898/mt (Korea origin)
　　·Traded price of offshore spot goods: $910-912/mt (Taiwan origin)
　　·Traded price of spot goods in RMB market: 7500yuan/mt by cash, on deck
　　·CCF PTA offer-take index: 3.0

Review
PTA spot market rose slightly on Wednesday, But shipments of low-priced is still small. After the morning opening, traded price of spot goods in RMB market rose to 7550-7600yuan/mt, the impact of 8000 mark intraday futures several times, Make the purchase price below 7500yuan/mt, the seller was unwilling to sell. Affected by the stock market trend late in futures fall, but the spot market, shipments of low-priced is still small, mainstream contract talks were near 7500yuan/mt, the actual spot transactions two days before the active degrees compared to slightly more down.

In the morning, Taiwan-origin cargoes were offered at $915/mt and done at $910/mt. Sellers were unwilling to sell below this level. aware of the market in the$912/mt Zhangjiagang to reach the vicinity of cargo, and $910/mt traders do have a firm offer price bids. Bonded spot in the $912/mt a deal reached slightly below the market price of Ningbo, a single-bonded spot in the $908/mt transactions. Today Han producing spot quotations in $900/mt, the buyer delivery tray $895/mt, or was a bit, the turnover in $898/mt near the start, Zhangjiagang Bonded spot in the $903/mt in the vicinity.

Downstream
PFY sales ratio in Jiangsu and Zhejiang mostly held at 150-200% level, with some lower at 70-80%.It will continue the trend of rising.

Outlook
Spot active degrees has dropped slightly from the previous month, but the price remains the overall performance of short-term market will remain relatively high and volatile recently mainly.

Zhejiang PTA plant of a 600,000 t stop for some reason about 6 days, the current domestic PTA plant operating rate fell to about 91%, a 600,000 t plant in Jiangsu planned on September 18 -20 to resume driving after a few days ago. Overall, the September number of the major supplier contract there is still a small reduction of action to stimulate the polyester plant involved in the recent spot market purchases, but overall, the current number of polyester business in materials has been to the National Day or after.