Soochow Futures: Partial Air And Macro Influence, PTA Repeatedly Oscillating At Wan Yuan Pass

Monday PTA futures High concussion. Main contract TA1201 to 10076 The opening quotation 212 points higher, up to 101 80 after the concussion fell, the lowest probe 9994, to close up 144 points to 10008, holdings 24 thousand to 410 thousand hands, turnover 209 (-9) ten thousand hands.

from Post positions As a matter of fact, TA1201 futures contract Yongan futures more than 1311 to 22216 hands, Galaxy futures empty single warehouse increase 8301 to 15545 hands. From the structure of positions, the top 20 positions Clearance single position For 1272 (-3655) hands. In August 22nd, the PTA registered warehouse receipt was 1010, with a decrease of 0 pieces, with an effective forecast of 0 sheets, totaling 1685 hands (8425 tons PTA).

In terms of international oil prices, the situation in Libya has different effects on Brent and New York's international oil prices. In August 22nd, the New York crude oil futures contract rose 2.01 dollars or 2.4% in October to 84.42 dollars / barrel, and ICE Brent crude oil October contract fell 0.26 dollars or 0.24% to 108.36 U.S. dollars / barrel.

The upstream price of naphtha is 925 (+0) US dollars / ton CFR Japan, MX spot price is 1300 (-0) USD / ton FOB Korea, Asia PX spot price is 1635 (+15) USD / ton FOB Korea, PTA dynamic guaranteed price is near 9480 yuan / ton. PX- naphtha oil price difference is 710 US dollars / ton, PX profit 360 US dollars / ton.

On the cargo side, the PTA price of the Jiangsu and Zhejiang market is 10000 yuan (+150) yuan / ton, and the price of PTA produced in the outer market of Taiwan is 1285 (+25) dollars / ton, which is equivalent to RMB 10248 yuan / ton.

News, Ukrainian Petrochemical 1 million tons of PX device plan in September arranged for two weeks or so maintenance. CNOOC Huizhou 840 thousand tons PX device start-up time is expected to be postponed to November, Fu Jia Dahua 700 thousand tons PX device is expected to arrange parking in early September.

The downstream polyester polyester products are rising steadily, and the mainstream factories in Jiangsu and Zhejiang are better in producing and selling polyester goods, most of them can be flat or slightly super, with 150% higher and 6-8 lower.

In the terminal market, the total volume of China Textile City in August 22nd was 596 (-37) million meters, and the filament fabric was 4 million 730 thousand meters, and the short fiber cloth was 1 million 230 thousand meters, of which cotton cloth was 270 thousand meters, TC cloth was about 170 thousand meters, TR cloth 390 thousand meters, and cotton 270 thousand meters.

Technically, the PTA price rises along the 5 day moving average, MACD Red pillar Continue to expand.

Summary: PTA futures show high Fall back Overall, the situation is still strong at ten thousand yuan. From the post office position, the first empty capital of Changjiang futures seat on Monday was completely evacuated. The intraday shock trend of PTA futures reflects the contradiction between its strong fundamentals and the slash of the macro side. From its own fundamentals, with the domestic Ukrainian Petrochemical shutdown and overhaul and Fu Jia Dahua shutdown, coupled with the CNOOC Huizhou PX device which has been shut down after July, the supply of domestic PX will decrease significantly in September. Supply continued to tighten up PTA raw materials upstream PX strong rise, PTA industry profits continue to PX link transfer, cost push PTA market easy to rise or fall. The shortage of PX resources has also contributed to the unstable operation of PTA industry. Since the second half of the year, Asian PX trend has become the main factor affecting the change of PTA industry chain market. On Monday, the domestic PTA spot price reached 10000 yuan per ton, and the production and marketing rate of the downstream polyester industry was good. The price of products rose slightly, and the rigid demand for PTA was stable. Macroeconomic worries about the two recession in the global economy remain the main negative factors in the PTA market. Technically, the PTA daily line is in a long way, taking the 5 day moving average as an important trading basis, and adopting a strategy of bargain. In terms of operation, TA1201 contracts are newly opened and hold more than 9850.