Crown China Futures: Spot Support &Nbsp; PTA Is Expected To Stand On 8000 Points.

This Monday Zhengzhou TA main contract 1101 receives. crude oil The influence of Gao Gao opened 66 points higher, opened at 7666, explored 7764 points in the intraday price, and adjusted slightly to 7736 at noon. The turnover is 420 thousand hands, and the position is 203 thousand hands.

Basic analysis: in July 30th, the University of Michigan survey showed that the final consumer confidence level in Michigan University in July was 76.5, which was expected to be 76, slightly better than expected before, but this figure is also the lowest since November 2009. According to the data released by the US Department of Commerce, after the seasonally adjusted, the US's GDP in the second quarter increased by 2.4%, and the US economic growth slowed down. The government said that the economic recession was more serious than expected, which aggravated the market's concern about the economic recovery. According to statistics released by China Federation of logistics and purchasing in August 1st, the purchasing managers' index of China's manufacturing industry in July was 51.2, declining for third consecutive months, but it has been on the 50 line for seventeenth consecutive months. In the short term, the US dollar index is likely to continue to weaken and seek 80 points to seek support.

The US economic slowdown slowed down the price of crude oil, followed by wheat and so on. commodity price The rise has once again stimulated crude oil prices to rebound sharply, with a $79 barrel per barrel, although the crude oil price has dropped slightly, but it has already stood above $78 a barrel. Overnight, the New York mercantile exchange closed a slight increase of 1.08 US dollars to 78.95 dollars per barrel in September, with a trading range of 76.84-79.05 U.S. dollars / barrel. In the short term, crude oil prices will hit $80 / barrel again, but the demand is improving and the US dollar index is weakening.

Overnight the global naphtha closing price is rising again and again. In the Asian naphtha market, Taiwan Formosa Plastics is not expected to restart the No. 1 cracking plant until the end of September and the beginning of October, while the Formosa Plastics 2 cracking device is likely to be stopped in August 20th for maintenance. While the Middle East and Suez naphtha are shipped to Europe, European and American traders are also looking for naphtha sales in Asia because of the increased pressure on the storage of naphtha in the US and Europe. India Stan oil company is still looking forward to selling the naphtha spot, and will sell 15 thousand -2 tons of India naphtha cargo to Daelim company in from August 8th to 15th. In the short term, although the price of naphtha in Asia has hit a five week high, the pressure on the top is stronger. The difference in naphtha cracking fell from a month high. European naphtha prices fell slightly by US $1.75 / ton.

Overnight Global PX Market prices are rising steadily. In the Asian PX market, FOB Korea PX's closing price rose slightly from 0.5 US dollars to 876.5-877.5 U.S. dollars / ton, and CFR Taiwan PX closing price rose slightly from US $0.5 to US $891.5-892.5 / ton. Prices continue to remain stable in the European PX market. In the US PX market, the closing price of PX in the FOB Bay area rose slightly from 11-12 US dollars to 892.5-897.5 US dollars / ton.

In the PTA spot market, Sinopec PTA sales company's settlement price in July was 7250 yuan / ton, and the listing price in August was 7350 yuan / ton. The rebound in crude oil prices, the strong price of the period and the rise in the price of polyester made the spot price of PTA in the East China market stronger again. The trading volume in the East China market was 7250-7300 yuan / ton, and the intention price of the downstream enterprises was 7150-7200 yuan / ton. The traders in the market were reluctant to sell at a low price, and the market enquiry situation improved, and the atmosphere of the trading market improved. In Asian PTA market, Taiwan produces CFR China quoted price is 875-880 dollar / ton, downstream enterprise intent purchase price is 870-875 dollar / ton, market turnover situation slightly improved.

In terms of commodities in the PTA industry chain, the price rise of PTA and MEG in the polyester market has made the price of polyester market stable and strong. In the East China market, half light chip spot has been traded for three months, the acceptance price is 9150 yuan / ton, the cash price is 9100 yuan / ton, the polyester market has a general turnover, but the volume is steady and small. In the polyester market, the price of the dull market is rising again in the East China market, and the increase is in the range of 100-300 yuan / ton. In the short term, the price of polyester in the East China market still has a certain rising space.

To sum up, the rebound in crude oil prices, the strong stock market and the rising price of downstream Dacron make the price rise somewhat in the short term, and the price is likely to stand on the 8000 integer mark again. In terms of operation, the lower positions will continue to be held only in the case of setting the margin to win. The short positions will be returned to the MA60 average while the single line will be intervened to stop the MA5 moving average.