Short Run Out Of &Nbsp; PTA Or Rebound.
Upstream commodities:
New York crude oil futures prices closed slightly higher on Friday, as investors worried about the flooding in the main oil refining areas.
The price rose 68 cents to $99.65 a barrel, or 0.7%.
PX CFR Taiwan $1525 / ton.
Goods in stock
Market:
On Friday, with the vigorous rebound in the PTA futures market, the atmosphere in the East China's domestic market rebounded slightly, and the selling intention rose to 9550-9600 yuan / ton. The downstream enquiry was still 9500 yuan / ton, and the focus of negotiations was maintained at 9550 yuan / ton.
Reminder:
Last Thursday, the commodity market plummeted. At night, the central bank announced that it raised the reserve requirement by 0.5 percentage points, and the regulation intensity was less than the market expectation. Therefore, the commodity market rebounded sharply on Friday.
PX price decline is smaller, during the market there are rumors July PX
Source of supply
Supply is tight, but this is likely to be a market hype in the downstream market downturn, in order to maintain the profits of PX manufacturers now.
And in the background of the sharp reduction of downstream profits, PX may be very high.
Downstream short staple market continued to fall, on demand procurement, the mainstream quotations of polyester Market in various markets declined, and manufacturers' shipments were sluggish.
The polyester chip market continues to be in a messy pattern, with different prices and uneven prices. The previous high prices have dropped, and the market atmosphere is weak.
Slice stock is on the high side.
The limited electricity policy of terminal enterprises influences the shortage of raw materials, basically keeps the quantity of production, the production rate of polyester is difficult to rise, the pressure of some varieties is high, and the support cost of upstream raw materials is weak. The polyester market continues to be weak and negative. Under the control of buying or selling, dealers, weaving factories and bomb companies generally hold cautious wait-and-see attitude.
PTA
Fundamentals remain weak, demand is still weak, cotton prices continue to slump on the textile and garment industry confidence is very heavy, short-term market mentality is difficult to change.
The supply chain is gradually improving in the industrial chain.
PTA manufacturers' maintenance efforts gradually increased, indicating that the PTA factory's profit satisfaction is lower.
The reduction of PTA supply will hardly change the price trend in the short term.
Technically, PTA futures fell to the weekly average of 60 days.
At the bottom, the price of the platform is about a week wide.
Last weekend cotton increased sharply, and crude oil also formed the form of double needles.
The domestic market is short of news.
Therefore, we believe that the commodity market will rebound in the short term.
Judging from the overall decline, the market is much larger, so we think the rebound will be larger and the time will be longer.
At present, the market reversal can not be concluded because the fundamentals are not compatible and there is no continuous increase at the bottom, so the rebound operation should also be cautious.
- Related reading
Cotton Sugar Rising Pressure Is High, In The Short Term Is Still Likely To Fall.
|- Company news | Hengyi Petrochemical Profit In The First Three Quarters Of 2 Billion 214 Million Yuan, Brunei Refinery Project Is Expected To Be The Next Quarter Earnings Growth
- News Republic | The Sixth Shengze Textile Expo Unveiled 100 Thousand Fashionable Eco Fabrics.
- neust fashion | NOAH Today'S 2019 Autumn And Winter Renewal, Absolutely Essential!
- Fabric accessories | Exclusive Interview With SORONA Asia Pacific Business Director Zhou Jin: SORONA Fiber Will Bring New Experience To People.
- Fashion shoes | YEEZY 350 V2 Black Turmeric Color Yeezreel Shoes
- Fashion brand | Oasis Band Leader Liam Gallagher X Nigel Cabourn New United Parka Series Release
- neust fashion | Have You Seen Top Class Shoes? Enjoy ASICS New Japanese Limited Series Retro Shoes!
- Fabric accessories | GH/T1265-2019 Two Cotton Industry Quality Grading Instrument And Other Industry Standards Issued.
- Fabric accessories | Let SORONA SORONA Play The Biggest Environmental Value, Exclusive Interview With Weng Wenjin, China Regional Marketing Manager
- Fabric accessories | China Textile Alliance Will Promote Cooperation With Textile And Garment Industries In The Mekong River
- Parmigiani
- IPO Is Approved By &Nbsp, And The Market Value Of Men'S Pants Experts Will Reach Ten Billion Yuan.
- Light Coat &Nbsp; Season Changing Essential.
- New Balance Suede Series M576 Suede Pack Shoes
- Lack Of Strong Support &Nbsp; PTA Rebound Space Will Be Limited.
- The Natural Roaming Of High Jewellery
- Supra Released Summer 2011 Rasta Shoes
- PTA Spot Rose Slightly Downstream Polyester Products Prices Continue To Fall
- Chandon
- MACKINTOSH X CONVERSE Waterproof Joint Smile Shoes