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The Trend Of PTA Midline Is Weakening, And Every Rally Is Short.

2012/3/8 9:50:00 18

PTA futures plunged sharply on Wednesday.

The main contract TA1205 opened at 9048, opened 128 points, all day low weak shocks, the lowest probe 9004, to close down 126 points to close at 9050, holdings 27 thousand to 234 thousand and 600 hands, trading volume of 55 (+5) ten thousand hands.

From the post office position, TA1205 contract Yongan more than 7009 single hand down 8500 to hand.

Shanghai

The second half is 4261 to 6293 hands.

From the perspective of the position structure, the first 20 positions are 9457 (+7265).

In March 7th, the PTA registered warehouse receipt was 5322, an increase of 1177 pieces, with an effective forecast of 677 pieces, totaling 5999 pieces (29 thousand and 900 tons PTA).

In terms of international oil prices, US crude oil inventories increased moderately, and investors in Greece

debt

There is hope for restructuring. In March 7th, the New York Mercantile Exchange (NYMEX) delivered light crude oil futures in April up 1.46 US dollars or 1.9% to 106.16 dollars per barrel. The London ICE exchange April Brent crude oil futures contract price rose 1.85 US dollars or 1.16% to 124.17 US dollars / barrel.

The upstream market price of naphtha is 1070 (+1) US dollars / ton CFR Japan, MX spot price is 1409 (-5) USD / ton FOB Korea, Asia PX spot price is 1641 (-15) USD / ton FOB Korea, 1666 (-15) USD / ton CFR China, PTA dynamic guaranteed price is 9256 yuan / ton.

The profit margin of PX theory is US $271 / ton.

The PTA spot market is weakening.

PTA spot in Jiangsu and Zhejiang

Transaction price

For 8970 (-80) yuan / ton, the price of Taiwan's PTA produced in the outer market is 1197 (-13) US dollars / ton, which is equivalent to RMB 9468 yuan / ton.

Downstream market polyester polyester products prices fell 50-100 yuan / ton.

The mainstream factories in Jiangsu and Zhejiang are weak in production and marketing of polyester, most of them are 5-7.

In the terminal market, the total volume of China Textile City in March 7th was 361 (-18) million meters, and the filament fabric was 3 million 200 thousand meters, and the short fiber cloth was 410 thousand meters, of which cotton cloth was 120 thousand meters, TC cloth was about 60 thousand meters, TR cloth 110 thousand meters, and cotton 80 thousand meters.

On the news side, in February, the ADP employment population in the United States was 216 thousand, and 203 thousand people were expected.

In January, 173 thousand people were employed.

The technology side dropped to break the 20 day average support.

Summary: on Wednesday, domestic industrial futures jumped as a whole, and the market atmosphere turned clear.

PTA futures also fell short, and the two day of trading dropped more than 70 thousand hands, indicating that market funds moved faster.

From a macro perspective, there are more important events on Thursday and Friday.

Greece's upcoming debt swap deadline, the US non farm employment in February, and China's February CPI, import and export and other important economic data release will shortly affect market sentiment.

The ADP employment data released by the United States on Wednesday night were better than expected, strengthening the expectation of "strong non-agricultural" employment data.

From the data, the US economic performance is thriving.

GDP growth in Australia, Brazil and other countries slowed sharply, and China's official downgrade of 2012 GDP target to 7.5% in March 5th, triggering worries about the global economic slowdown.

The industrial sector continued to decline, inhibiting PTA market strength.

Overnight, international oil prices rebounded strongly, but overall maintained a range of shocks. PTA upstream raw material PX prices stagflated.

terminal

Spin

Demand continues to be weak, PTA polyester polyester production and marketing rate has always been low, polyester factories failed to complete the inventory, weakened the cost support role of PX, PTA spot market buyers enthusiasm is not high, weak futures exacerbated adjustment pressure, prices fell below 9000 yuan pass.

The number of spot flows to futures delivery repository is increasing.

The fundamentals and technical aspects have shown that PTA futures have entered the medium term adjustment market, and the duopoly is still being constructed.

The overall rise in the overnight market will drive a rebound in the sharp fall of domestic commodities on Thursday, focusing on the short-term average position pressure.

After the PTA operation, the contract was turned to the September contract.