Soochow Futures: PTA Long Defeat, The Establishment Of The Middle Line Down Market
PTA futures plunged sharply on Monday.
The main contract TA1201 opened at 9850, opened 130 points low, opened up and left low, and dropped 9650 to 328, closing at 9652, holding 5874 hands to 407 thousand hands, and trading volume of 109.64 (-11.36) million.
From the post office position, the TA1201 contract is profitable.
futures
More than 12617 single to 17727 hands, Yongan futures empty single warehouse reduced 1642 to 16923 hands.
From the perspective of the position structure, the net position of the top 20 positions is 14487 (+12061).
In September 19th, the PTA registered warehouse receipt was 337, with a decrease of 2711 pieces, with an effective forecast of 0 sheets, totaling 337 hands (1685 tons PTA).
In terms of international oil prices, New York's crude oil futures contract declined by 2.26 US dollars or 2.57% at 85.7 US dollars per barrel in October. The ICE Brent crude oil contract in November dropped by 3.08 US dollars or 2.7% to 109.14 US dollars / barrel.
The upstream price of naphtha is 971 (-12) US dollars / ton CFR Japan, MX spot price is 1367 (-3) USD / ton FOB Korea, Asia PX spot price is 1693 (-10) USD / ton FOB Korea, PTA dynamic guaranteed price is near 9759 yuan / ton.
PX- naphtha oil price difference is 722 US dollars / ton, PX profit 372 US dollars / ton.
Spot, the market continued to plummet, the seller's intention to sell the inner plate fell to 10400 yuan / ton.
The shipment of Taiwan goods is about $1330 per ton.
The spot paction price of Jiangsu and Zhejiang PTA is 10250 yuan (-150) yuan / ton, and the price of Taiwan PTA produced outside the plate is 1320 (-20) dollars / ton, which is equivalent to RMB 10507 yuan / ton.
Downstream market
Polyester polyester fiber
Prices are stable.
The mainstream factories in Jiangsu and Zhejiang are weak in production and marketing of polyester, most of them are 6-7, and a few are 8-9 or 4-5.
In the terminal market, the total volume of China Textile City in September 19th was 545 (-55) million meters, and the filament fabric was 4 million 700 thousand meters, and the short fiber cloth was 750 thousand meters, of which cotton cloth was 240 thousand meters, TC cloth was about 130 thousand meters, TR cloth 270 thousand meters, and cotton 40 thousand meters.
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On the technical side, there is a downward gap in the daily line, and the support for the 30 day average line is broken.
Summary: on Monday, the futures market of domestic futures dropped sharply, and the atmosphere was strong.
PTA futures skip 9900 yuan after the support of the gateway to continue to fall, technology, K line four consecutive Yin, long defeat, open up a new drop in space.
The May contract has fallen through the 60 day moving average.
Monday's market crash was first dragged down by the market crash.
The world economic outlook is worrying. LLDPE futures close to the closing price in domestic chemicals, together with PVC futures, set a new low in the year.
Natural rubber and copper have also fallen sharply, which has greatly damaged the market's popularity.
Show that the market is entering a new round of overall collapse.
Secondly, the supply and demand side of PTA continues to decline.
Upstream raw materials PX stopped rising.
Futures slump aggravated the PTA spot buyers' wait-and-see sentiment, and spot prices fell 400 yuan / ton in two days.
PTA downstream polyester polyester production and sales rate declined, textile enterprises demand is not strong.
Fabric Library
The continuous increase of looms and looms has shown signs of decline.
Terminal textile demand or usher in a downward inflection point.
The trend of PTA futures on Monday has marked the end of the rally since July, and the establishment of a weaker central line.
The first target will go back to the 9000 yuan pass.
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