PTA East China Market Is Dominated By Market Consolidation Today.
Upstream market
Crude oil futures fell slightly under the pressure of rising US dollar and increased gasoline and distillate stocks.
Oil prices fell 40 cents to $88.82 a barrel, or 0.5%.
Asian PX rose 44 US dollars / ton to 1323 U.S. dollars / ton FOB Korea.
Spot market
PTA East China market today's market consolidation, the offer is still 9250-9300 yuan / ton, part of the real single reached 9250 yuan / ton, 9280 yuan / ton, mostly for
Trader
Connect the disk.
Downstream is still dominated by wait-and-see, and orders are not strong.
PTA spot is in a weak and rising state, although spot prices follow futures, but there are many reasons.
Trader
The market price is higher than that of the other downstream businesses.
In line with our earlier analysis, the -11 month increase in July consumed a lot of PTA stock in the hands of traders.
At present, PTA manufacturers have few stocks in hand, and the main social stocks of PTA are concentrated in the hands of downstream polyester factories.
Polyester manufacturers reserve raw materials in a month or so, polyester production is very little for raw material procurement, and spot market demand is insufficient.
Futures market hints
Overnight external disk
commodity
The trend is rising and falling, but the trend is strong in the direction of Lun copper rise.
It has more influence on the domestic market today.
Yesterday PTA opened rapidly, the price rose to more than 9500 yuan area, but domestic cotton prices weakened, hitting the PTA rise kinetic energy, funds to fight LLDPE.
In the wake of the stock index futures, commodities are all playing a downward dive.
Overnight cotton trend is good, PTA futures are expected to rise today.
In terms of technology, there is pressure and support on PTA, and it is difficult to break through in the short term to form a clear direction.
Therefore, the whole wait and see.
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