Pay Attention To The Trend Of Cotton &Nbsp; PTA Or High And Wide Shocks.
New York crude oil futures closed down on Thursday because investors were taking profits. Investment Inflation fears have weakened. The price fell 32 cents to $101.91 a barrel, or 0.3%.
Asia yesterday
PX
Prices remained high and volatile J stagnated and closed at $1670 / tonne CFR, Taiwan, down 5 US dollars / ton.
Spot market
Asian PTA (11940, -74.00, -0.62%) market quotation rose, Taiwan's shipping quote rose to US $1530 / ton or more. The vendor's reluctant sale mentality was obvious. It is expected that the negotiations will be held at $1510-1520 / tonne, and Korea's supply will be discussed at $1500 / ton.
East China PTA market atmosphere upstream, the seller's offer rose to 11800 yuan / ton, buyers find positive attitude, expect the actual negotiations in the range of 11700-11750 yuan / ton, the market is scarce.
Futures market hints
from
Spot market
Look at downstream production and marketing sluggish, polyester fiber production and sales once again decline, stock index suddenly increased, only to polyester POY to see to 13.2 days or so.
And downstream polyester polyester profits further decline.
We believe that in the short term, the impact factors of PTA futures mainly come from cotton (32815, -95.00, -0.29%) and financial attributes, and spot products have little impact on them.
The main reason for the fall in the afternoon market yesterday is the market rumor that the exchange should convert cotton's national matching paction warehouse receipts into exchange warehouse receipts, causing the market to worry about the government's re regulation of the cotton market, causing the domestic cotton futures prices to fall and then drive the PTA price down.
So far, no official information has been identified.
Overnight crude oil fell slightly, and cotton did not go to the limit, while US stocks rose.
The impact on domestic commodity trends is unknown.
We believe that the trend of PTA in March this year is close to that of the same period last year, that is, high and broad shocks.
In the short term, we suggest that we should attract more people and pay attention to the trend of cotton.
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