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Price Overshoot Rebound, PTA On The 5 Day Line

2011/5/18 15:35:00 48

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Market review: today, PTA ushered in a rebound market.

The price has closed slightly, and is on the 5 day.

The price of early trading was maintained at a narrow level after 9400, followed by a sharp rise in the index's sharp rise, and hit a high of 9588 in the afternoon, a slight drop in the latter price, ending at 9534, rising 120, or 1.27%.

The main contract closed 1 million 104 thousand hands, increased 31 thousand and 400 positions to 233 thousand and 400 hands.

Fundamentals:

PX:5 16, Asia

market

PX prices fluctuate little to maintain consolidation.

FOB Korea reported 1506-1507/ U.S. dollars / ton, CFR Taiwan reported 1526-1527 U.S. dollars / ton, compared with the previous trading day, a slight increase of 2 U.S. dollars / ton.

Spot: the market in North China is rather light, with some offer prices at around 9550-9600 yuan / ton, and the market atmosphere is dull.

The domestic market of East China is very dull, and the price of the holder's offer is near 9550-9600 yuan / ton.

The import spot market is in a sluggish market. The market price of Taiwan shipping is about $1225-1230 / ton, and the price of Korean goods is about $1220 / ton, and the actual talks are scarce.

In May 16th, the price of MEG rose slightly, half light.

polyester

Slicing, great gloss

PET chip

Price down, CDP slice price trend consolidation, polyester bottle price trend is still down.

The trading atmosphere is still light and the quotation continues to decline. From the current upstream and downstream markets, the upstream raw materials show a "continuous decline" trend, which is affected by the decline of PTA futures, and the confidence of the polyester market is more serious. Downstream water jet weaving has energy-saving and emission reduction factors, and the market has gradually formed a double attack on the upper and lower reaches.

Manufacturers: Ningbo MITSUBISHI May listing price of 11000 yuan / ton, manufacturers can still supply goods, the basic balance of production and marketing in the near future.

The Far East petrochemical production capacity of 600 thousand tons PTA plant was scheduled to be servicing in May 10th, and the maintenance lasted for about two weeks.

Operational suggestion: Although the overnight crude oil has dropped significantly again, and the European debt crisis situation is still uncertain, the price rebound reflects that after a long time of adjustment, the bad news is basically digested.

Judging from today's trend, after the four consecutive trading days' shrinkage adjustment, the price will rise again and again.

From the technical point of view, the KDJ index has a long time of passivation at the bottom, and the rally is ready at any time. It is expected that if there is little change in fundamentals, it is expected to continue to get out of the rebound market in the near future. In terms of operation, 9300-9400 will buy a bargain, break through the 9200 stop loss, and make a breakthrough in the 10 day line.