Xiangyu Futures: &Nbsp, PTA, The Last Trading Day Before The Holiday, Is Hard To Continue To Rise.
The US dollar weakened and NYMEX crude futures closed moderately higher on Monday.
The price rose 1.2 US dollars, or 1.63%, and closed at 74.68 US dollars / barrel.
Asian PX rose by 24 US dollars to 990-995 US dollars / ton FOB Korea, and European PX continued to maintain 1005 US dollars / ton FOB near Rotterdam.
Goods in stock
market
The PTA market has been rising fiercely. As of now, China's domestic trade market has reached 7650 yuan / ton, and the price has risen 150 yuan / ton a day, and the market will continue to rise. For such a rising trend, the downstream manufacturers are cautious to take orders, traders are receiving frequent orders, and the overall market atmosphere is positive. In terms of US dollars, the volume of today's Taiwan products has risen to 930 US dollars / ton. We have heard that the market has reached 925 dollars per ton, which is a cargo for Taiwan. At present, some of the products are sold for sale, and the shipment is going up. Korean products are quoted at 915 US dollars / ton, and the delivery rate is more than 910 US dollars / ton.
Futures market hints
Fundamentally speaking,
PTA
Polyester stocks are selling well in the lower reaches, and the stock index of polyester yarn keeps decreasing.
The high operating rate of polyester has great demand for PTA, and the profit of polyester industry is higher. PTA traders are reluctant to sell at low prices.
Yesterday PTA volume rose, prices broke through the previous shock interval.
But today is the last of the mid term holidays.
Trading day
In general, there will be a substantial reduction in positions.
Therefore, it is recommended that the early stage of the first lot be properly liquidated.
The recent stock market has a continuous callback, although the overall adjustment is limited, but the trend of the current trend has been more obvious.
We believe that although the PTA spot is good in production and marketing, it is not enough to support its price rising from the domestic stock market trend.
On the operation, it is recommended to wait and see.
Although the fundamentals of PTA are excellent, the trend of domestic property regulation in recent years has a tendency to start again. We believe that the probability of adjustment in the latter part of China to increase the rate of contraction is increasing.
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