MEIKO Futures: PTA Price Key Points Repeated

Overnight crude oil, New York crude oil futures

Upstream PX, the Asian PX market rose slightly by 11 US dollars / ton to 1509 US dollars / ton FOB Korea and 1529 US dollars / ton CFR Taiwan, the European PX market plunged 61 US dollars / ton to 1528 US dollars / ton FOB Rotterdam.

The spot market, the PTA spot market continued to maintain a weak operation yesterday. At present, the main market in East China's domestic market is 9850-9900 yuan / ton, and the downstream manufacturers are paying more than 9800 yuan / ton. However, the selling price is still on sale at present, and the intention of shipment is still lingering in the 9850 yuan / ton line.

In terms of us gold plate, Taiwan's supply market was sporadic offer of 1265-1270 US dollars / ton, but the delivery rate was more than 1250 US dollars / ton, and Korea's supply negotiations were held at 1250 US dollars / ton.

Downstream polyester: 1, filament, Jiangsu and Zhejiang polyester market is still making up, the price center of gravity continued to fall, the magnitude of 100-400 yuan / ton; current POY, DTY, FDY mainstream offer are 14100, 16000, 14050 yuan / ton.

2, short fiber, polyester and short market atmosphere is still weak, low price frequent, the market shipments are not smooth.

Direct spinning half light 1.4D cash mainstream to negotiate at 13100 yuan / ton, Jiangsu and Zhejiang manufacturers offer confusion, in 13000-13200 yuan / ton, and even individual manufacturers lower at 12850 yuan / ton price.

3, slicing and slicing, the market gravity dropped sharply, and the market was messy.

In the Jiangsu and Zhejiang market, the acceptance price is generally 12500-12800 yuan / ton in three months. The cash in the Jiangsu and Zhejiang market or the acceptance in March is 12350-12700 yuan / ton.

4, bottle piece, because the upstream raw material trend is low, and downstream demand peak season is not prosperous, the recent PET bottle piece price continues to fall, polyester bottle manufacturers to callback to 13000 yuan / ton, downstream wait-and-see sentiment aggravated.

At present, the average turnover rate is around 80%, and the actual paction price is around 12800 yuan / ton.

Market analysis, upstream PX weak rebound, it is difficult to constitute an effective cost of PTA to boost; inside and outside the PTA market continued to weaken, and the price gap continued to narrow, the fundamentals continued weak.

Recently, the PTA price fluctuated sharply in the vicinity of the first low price, and was temporarily treated as a drop in relay mode, paying attention to the impact of the macro data on the market today.

The operation suggests that a small amount of empty documents should be held in order to be filled with gaps.