Market Analysis: The Recent Rise In Crude Oil Boosts PTA Trend

Market Review

Zhengzhou commodity exchange, July 16th

Gao Gao Gao walks, the consolidation although has the concussion, the late plate again increases upstream, TA301 receives 7806 yuan / ton, the rise 214 yuan / ton, the increase 2.82%.

Turnover of 1 million 245 thousand and 800 hands, holding 502 thousand and 400 hands, increasing 28 thousand positions.

Two, message plane

From July 16th to August 31st, the Xiuzhou District of Jiaxing will implement various schemes such as error avoidance peak control and centralized maintenance for industrial enterprises, and timely implement centralized maintenance plan for household industries.

IMF released the latest world economic outlook on Monday. In this outlook, IMF lowered its global growth expectations and called for further action.

IMF said crisis management is still a top priority and the first task is to solve the euro zone crisis.

After the Italy government bond rating was downgraded from A3 to Baa2 and the rating outlook was negative, local rating agencies in July 16th also lowered the long-term debt and deposit rating of 10 Italy banks and the ratings of 3 bank issuers by 1-2 respectively.

Three, industrial chain

Brant crude oil futures rose 1.15 US dollars in August, the settlement price was quoted at US $103.55 per barrel, US dollar. US crude oil futures rose 1.33 US dollars in August, and the settlement price was quoted at 88.43 US dollars per barrel.

European PX rose 5 to 1235 U.S. dollars FOB FOB, Asia rose 34 to 1403 U.S. dollars CFR China and 1382 U.S. dollars FOB Korea; Asia's heterogeneous MX rose 38 to 1167 U. S. dollars near the South Korean FOB, naphtha rose 13 US dollars to 836 U. S. dollars, Taicang, Japan, polyester steadily small increase, afternoon by polyesters raw material strong drive, local silk price has increased inflation behavior, POY150/144 reported to 10500 yuan / ton.

A big factory in Shengze is temporarily stable today, 100/144 light network, 150/288 light network 12600, 11800; FDY75/72 price 12000.

Another temporary factory in the local market, 75/144, 150/144 light network 14200, 12000 yuan / ton; bright FDY75/36 reported 11700 yuan / ton.

Another factory in Shengze price is stable, 75/72 light network 13300, FDY75/72 price 12000.

Wuxi polyester Market Center of gravity floated, the local factory rose 100 yuan, FDY75/36 price of 11300 yuan / ton.

Jiangsu and Zhejiang

Basically before 150-300%, there will be a surge or closure in the afternoon.

Raw materials are strong, leading to short and short price increases, leading to downstream moderate replenishment. Today, polyester and short production and sales are acceptable. The mainstream is in 100-150%, and the individual is slightly higher than 200%.

China's textile city increased by a single increase, the total turnover of 6 million 160 thousand meters, filament fabric turnover of 4 million 400 thousand meters, short fiber cloth clinch a deal 1 million 760 thousand meters, including cotton cloth 310 thousand meters, TC cloth 120 thousand, TR cloth 340 thousand, cotton 900 thousand meters.

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Four, overhaul

Sheng Zeyi 250 thousand tons new

The device plans to increase temperature at the end of the month, and the main production is half light POY and FDY.

Another 300 thousand ton new plant is also planned to go into operation in 7-8 months.

A set of 180 thousand tons of polymerized spinning filament plant in Xiaoshan is initially planned for parking in the middle and later this week. The estimated stopping time is one month. The device mainly produces half light POY.

A set of 200 thousand tons of polymerized spinning filament equipment was overheated last week in mid June of Shaoxing. It is expected that the wire will be produced by the beginning of this week. The device will produce half light POY and FDY.

A 600 thousand ton PTA plant in Zhejiang will be maintained for three weeks from yesterday. The other two sets of 600 thousand tons of PTA plant will be followed up or checked.

A 530 thousand tonne PTA set up in northeastern China, which was overhauled last month about 25 days, was scheduled to restart at the beginning of this week. It will now be postponed or postponed. Another 100 thousand ton bottle flake device set up for parking inspection near 14 last month has been postponed.

A 1 million 100 thousand ton PTA installation near Southern China in June 30th was officially restarted near July 14th.

Five, market analysis and suggestions

The continuous maintenance of the PX device made the PTA more active. Yesterday, the PTA went up sharply after the high opening. The intraday fell back and picked up again in the afternoon. The atmosphere in the day was good, closing at 7806, up 214 yuan / ton compared with the previous day's average price.

PX supply speculation again, domestic PX production is expected to increase, in August the domestic PTA new capacity to put more, PX will continue to maintain strong, PTA is expected to rise under cost driven.

Overnight crude oil rose to boost PTA bull sentiment, and the market's focus is expected to further pull up, 7800 in the short term.

There may be some pressure nearby, but from MACD, the rebound is expected to continue.