GF Futures: Cotton Demand Adjustment Sluggish PTA Callback
On Monday, New York crude oil futures fell 0.77 U.S. dollars in March, closing 84.81 U.S. dollars / barrel; Brent futures rose 2.14 US dollars in April, closing at 103.08 U.S. dollars / barrel. PX is maintained at $1622-1623 / ton FOB Korea, equivalent to PTA cost of 9560 yuan / ton.
Internal market mainstream
Goods in stock
The cash price is 11680-11700 yuan / ton, and the spot price of the cash plate is 1465-1470 USD / ton, and the price of the foreign spot Korean spot cash plate is 1455-1460 USD / ton.
Recently, due to weak support for downstream demand, polyester production and sales in mainstream factories continued to be weak, partly due to pressure from stock prices.
Promotion
Most factories are moderately favorable.
In the Xiaoshao area, the polyester fiber is stable, including POY, DTY and FDY150D mainstream 14500-14700, 16000-16200, 14500-14800 yuan / ton; Shaoxing factory FDY fifty to one hundred; 61D, 75/72, 100/48, 150D reported 17950, 17500, 15700, 14750 yuan / ton; POY in Xiaoshan factory dropped two hundred, 75/ 36, 75/72, 75/ reported, 36, 36 yuan / ton.
Because of the low load after the festival, the difficulty of recruitment and the high cost of the operation have led to a strong wait-and-see sentiment.
At the same time, there are about 2 million tons of polyester production capacity maintenance after the festival, which shows that the cost of polyester industry chain is not smooth.
Affected by drought in the north, China
Agriculture products
Continued inflation further pushed domestic inflation expectations, but yesterday's Zhengzhou PTA pullback came under the influence of lower demand and cotton adjustment.
Affected by the adjustment of crude oil, there is still a pressure of callback today. Investors are advised to: 1105 contracts pay attention to the performance of two lines, and the PTA central line is more cautious.
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