Suzhou Futures: Tightening Concerns Continue, PTA Remains Weak
Monday
Zhengzhou
TA1105's closing price dropped 250 points to 9648 yuan / ton.
On the upstream side of PTA, today's NYMEX-1 crude oil electronic disk runs under 81 US dollars / barrel. It is estimated that the underlying space is limited. The price of MX and PX is basically stable. Overnight CFR China / Taiwan LC30-45 days PX spot price temporarily stabilized at 1281 US dollars / ton, PTA production cost remained at 7850 yuan / ton.
At present, the profit of PTA production is higher, and the end of autumn and winter demand season is over. PTA's spot and futures prices may feel the repression brought by production power.
Downstream, today's Jiangsu and Zhejiang polyester market continues to be weak, wait-and-see mentality is obvious.
Psf
The index fell 100 to 16900 yuan / ton.
Investors need to remain sober in the future, and the pressure on the export of the domestic textile and clothing industry remains undiminished in the face of the appreciation of the RMB, the rising cost of labor and the competition in countries such as Southeast Asia.
Moreover, in December -1, PTA seasonal demand weakened.
Overall, in the face of tightening concerns, market fear of high sentiment continues, and cotton spot down also makes the market panic.
However, the US economy continues to recover at a low speed, and the US quantitative easing is continuing, and the space under the PTA can not be expected too much.
Operation, the market mentality is still impetuous, unstable trend.
TA1105 the central line needs to wait more; the early days are set to stop by 5 day moving average.
Pay attention to cotton price and production device dynamics.
Attention should be paid to risk prevention and fund management.
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