Jiangsu And Zhejiang Polyester Continues To Fall, Market Confidence Is Still Insufficient.

Zhengzhou PTA futures continued to decline on the 18 th, while the main 1201 contract closed 8512 yuan / ton, or 328 yuan.

The market has rekindled fears of Europe's debt crisis, and the stock market futures market has fallen.

The upstream raw material PX is in the adjustment period, supporting the PTA cost is not strong, downstream.

From the technical indicators, MACD green pillar rises again, RSI turns down, the market short strength prevails.

Overnight crude oil prices rose, it is expected that the recent PTA will maintain a shock pattern, there is still a downward trend in the market outlook.

The New York Mercantile Exchange (NYMEX) crude oil futures rose to its highest level in 18 months, due to a rise in the US stock market driven by bank performance, overshadowing China's growth than expected and European debt problems.

NYMEX November light crude oil futures contract settlement price rose 1.96 U.S. dollars, to 88.34 U.S. dollars per barrel, or 2.3%, the highest level since September 15th.

ICE December Brent crude oil futures contract settlement price rose 99 cents, to $111.15 a barrel, or 0.9%.

In earlier trading, crude oil prices fell, as China's third quarter GDP growth was the lowest in two years, and Moodie warned that the French AAA rating outlook could be adjusted to negative.

These factors also dragged down the early fall of the US stock market, but the banking performance was seen as strong enough to give the bank stock investors certain confidence, which helped to boost US stocks.

The United States Petroleum Institute announced that as of October 14th, the United States crude oil inventories decreased by 3 million 126 thousand barrels a week, gasoline inventories decreased by 1 million 642 thousand barrels, distillate stocks decreased by 2 million 194 thousand barrels, and refinery operating rates were flat at 83.4%.

Asian PX rose 9 to 1599-1600 U.S. dollars / ton FOB Korea, Europe rose 5 to 1519-1523 U.S. dollars / ton FOB Rotterdam, the United States rose 5 US dollars to 1570-1575 U.S. dollars / ton FOB Gulf of America.

On the spot side, the PTA market is weak, the mainstream trading in the internal market is at 9400-9450 yuan / ton, the external market is obviously down, and the Korean goods are handed over to 1185-1190 US dollars / ton individually.

Downstream market, Jiangsu and Zhejiang