Home >

Panic Spreads, PTA Weak Downside Shows Pessimism.

2011/10/21 9:08:00 20

??? 日本語 Fran?ais English 中文

Thursday PTA

futures

Jump to the limit.

The main contract TA1201 opened at 8300, and opened 198 points. The opening price was the highest price on that day. The most open day was low and low. At the end of the day, it closed at the price limit, closing at 510 points, closing at 7988, increasing its positions by 36 thousand to 330 thousand, and trading volume 113 (-20) million.

From the post office position, TA1201 contracts Yongan futures more single increase positions 3743 to 23 thousand hands, New Century Futures

Empty bill

Add 6028 hands to 6986 hands.

From the perspective of the position structure, the net position of the top 20 positions is 23509 (+4506).

In October 20th, the PTA registered warehouse receipt was 1653, an increase of 259 pieces, with an effective forecast of 61 pieces, totaling 1594 pieces (8570 tons PTA).

In terms of international oil prices, the New York crude oil futures contract in October 20th dropped 0.22 US dollars or 0.25% at 86.07 US dollars / barrel. ICE Brent crude oil December contract rose 1.37 dollars or 1.26% to settle at 109.76 US dollars / barrel.

The upstream price of naphtha is 883 (-22) US dollars / ton CFR Japan, MX

Goods in stock

The price is 1245 (-22) dollars / ton FOB Korea, Asian PX spot price is 1462 (-77) USD / ton FOB Korea, PTA dynamic guaranteed price is near 8607 yuan / ton.

PX- naphtha oil price difference is 579 US dollars / ton, PX profit 229 US dollars / ton.

On the spot, panic dropped.

The price of the internal offer dropped by 400 yuan to 8800 yuan / ton.

The shipment price of Taiwan goods is reduced from 70 US dollars to 1120 US dollars / ton.

The spot paction price of Jiangsu and Zhejiang PTA is 8700 yuan (-450) yuan / ton, and the price of Taiwan PTA produced outside the plate is 1110 (-10) dollars / ton, which is equivalent to RMB 8825 yuan / ton.

On the news side, second sets of 600 thousand tons PTA new facilities were opened, and the first 600 thousand tons of PTA installations in September were stopped.

The Ministry of Finance allows Shanghai, Zhejiang, Guangdong and Shenzhen to issue bonds voluntarily.

Polyester polyester Market in the downstream market is low and prices are dropping.

The production and sales of polyester in the mainstream factories in Jiangsu and Zhejiang areas are weak, most of which are 5-7, a few higher 8-9 and a lower part of 4, and the short term polyester will continue to decline.

In the terminal market, the total volume of China Textile City in October 20th was 745 (-11) million meters, and the filament fabric was 6 million 360 thousand meters, and the short fiber cloth was 1 million 90 thousand meters, of which cotton cloth was 370 thousand meters, TC cloth was about 190 thousand meters, TR cloth 340 thousand meters, and cotton 50 thousand meters.

Technically, it fell short of the 5 day moving average in the short term.

Summary: on Thursday, the domestic futures market suffered a systemic plunge, and the short selling force was concentrated.

Energy chemical industry large area limit, PTA futures lower and lower, although many bulls continue to increase resistance, and finally closed down at the limit price.

PTA futures downright completely destroyed the confidence of spot traders in the early stage, and the panic in the upstream and downstream markets fell sharply.

PTA spot traders cut their prices sharply, and the price center of gravity quickly fell below the 9000 yuan mark.

The PX price of upstream raw materials plummeted $77 a day, and the cost of PTA support continued to weaken.

Downstream market polyester chip, polyester filament and staple fiber, cloth market downturn, low price frequent, price confusion, buyers basically wait and see, few pactions.

Polyester factories mostly use contract goods, which reduces PTA spot purchases and exacerbates the adjustment pressure in the spot market.

After a continuous fall in the prices of upstream raw materials, textile enterprises began to show signs of a decline in the start-up rate in order to control inventory risks, and the downside risk caused by the decline in terminal demand continued to flow upstream.

The European debt crisis on the macro level has not been effectively resolved, and domestic economic growth has slowed down significantly.

Market participants are pessimistic about future expectations, and PTA's weakness in the centerline is hard to change at the moment.

On the news side, the Ministry of Finance allowed Shanghai, Zhejiang, Guangdong and Shenzhen to issue bonds voluntarily, indicating that the central government began to attach importance to the issue of local debt.

On Friday, faced with the weekend, the policy uncertainties increased, and short-term investors were on guard against the technical anti market after the big crash.