PTA Before Trading Is Light And Stable.

Market review:

Friday,

After a slight opening and a downward trend, the market turbulence is weak.

The main force 1209 opened in 8580, the highest 8596 in the day, the lowest 8550, ending in the 8562, compared with the previous day average price rose 12 yuan / ton.

223542 hands traded, 9968 to 347322.

Upstream market:

WTI rose 0.43 to 104.55, Brent crude rose 0.80 to 119.92 U.S. dollars / barrel; naphtha rose 1 US dollars to 1009-1018 US dollars / ton CFR Japan; heterogeneous MX fell 7 US dollars to 1250-1251 US dollars / ton FOB Korea; Asia PX increased 3 US dollars to 1521-1522 U.S. dollars / ton FOB South Korea; Europe was stationary in 1494-1496 dollar / ton FOB Rotterdam, and the United States was stationary in the US dollar / ton FOB Gulf of America.

Downstream market:

Today, Jiangsu and Zhejiang polyester stable, preferential sales continued, the focus of the paction stalemate.

Polyester stocks are different in height, but the overall decline is earlier than that.

Zhejiang market direct spinning polyester and short factory quotations continue to be stable, half light 1.4D cotton cash delivery in the province

11250 yuan / ton, the actual deal can be discussed.

Fujian market factory direct spinning polyester short quotation is generally stable, half light 1.4D cotton type mainstream offer 11200-11250 yuan / ton cash local delivery.

Comprehensive comment:

On the last trading day before the May 1 holiday, the PTA market has already entered the holiday in advance, with a light trading day and a narrow price fluctuation.

PTA has been narrowing for four consecutive trading days since it fell sharply back to the 8500 line on Monday.

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Basically, PTA still lacks direction, PX is still a narrow concussion, closed down the PTA's downfall space, and polyester production and sales are mainly rigid. Under the pressure of high polyester stock, PTA price lacks upward momentum.

In the current embarrassing price range, and faced with a small holiday, PTA is also difficult to receive the favor of funds, so the recent trading is also weak.

The traditional peak season for textile demand has already been more than half. At present, the textile order situation is still not optimistic.

During the May 1st period, there are more holiday plans in some weaving factories, so the loom load may decline.

Canton Fair textile and clothing exhibition will begin in May 1st, focusing on orders at the Canton Fair.

In addition, Yi grand 2 million tons of PTA device is scheduled to be overhauled for two weeks in early May, which is conducive to stabilizing the PTA market.

Technically, the RSI and MACD indicators are stable, and have improved markedly compared with the first half of April, showing that the market mentality has not yet weakened, and the support for 8500 is stronger.