The Main Shift Warehouse Slowly For PTA Months, Selling A Single Paction Hidden Worries

< p > 400 thousand hand positions are converted into warehouse receipts that are 2 million tons of goods, which is equivalent to the output of PTA in the whole month.

At present, it is also a month away from delivery. It is hard for investors to sell single positions to raise so many sources in a short time.

< /p >

< p > in the first half of this year, the oversupply of PTA industry led to the decline of a href= "http://www.91se91.com/news/index_c.asp" and the price < /a > all the way down. The market chose futures market to digest inventory, and registered warehouse receipts surged to more than 7 hands.

But after May, the three giants of PTA, Yisheng, Hengli and Xiang Lu jointly limited production, and then changed the traditional settlement mode of PTA, from the settlement mode based on the average price of the market to the PX cost pricing mode.

The change in the price limit and the settlement mode helped boost the PTA market with the V font reversal, and the price rose all the way.

The PTA1409 contract rose from 5990 at the lowest price in early May to about 7500 now, with a cumulative increase of more than 25%.

With the rising prices, the market has chosen to cancel the warehouse receipts, fight the spot market to achieve inventory digestion.

The registered warehouse receipts have fallen rapidly. At present, there are only 2000 hands, which are 11800 tons in stock, far from the current 1409 a href= "http://www.91se91.com/news/index_c.asp" > Holdings /a, far from meeting the delivery needs.

< /p >

Since p a < http://www.91se91.com/news/index_c.asp href= > http://www.91se91.com/news/index_c.asp > PTA > /a > three alliances, PTA start-up load has been maintained at a low level until the beginning of July, and the party rebounded to over 7. In the face of this situation, PTA manufacturers once again organized limited production and insured prices, and from the initial 3 to 8, agreed to limit the operating rate below 70%, and specially sought third party supervision, all parties paid a certain proportion of margin.

PTA enterprises have limited production, and the operating rate has dropped significantly. At present, only about 60%.

< /p >

< p > as of the end of June 2014, the domestic PTA capacity is at 41 million 240 thousand tons / year. According to the level of 60% operation, the output per month is about 2 million 60 thousand tons.

Polyester production in the first half of this year is 15 million 689 thousand tons, with a monthly average of 2 million 610 thousand tons. According to the ratio of 0.85 tons PTA per ton of polyester, the amount of PTA consumed per month in polyester production is around 2 million 220 thousand tons, and the overall market supply and demand balance.

It can also be seen that investors who sell single trading positions are very difficult to raise the supply of goods for delivery.

< /p >

< p > from the current price trend of the market, nearly 1409 contracts in the past 7400 months have been closely related to the finishing line. In the near month, there is a discount of nearly 400 yuan / ton in the near months. Due to the high discount loss, investors who choose to sell their trading positions can only choose to stick to the contract in the near future.

At present, although the polyester industry and downstream weaving enterprises are facing high price raw materials, there is strong resistance. However, the rise in PX prices has led to the failure of PTA enterprises to lose. The measures to limit production and price protection are still continuing, and prices are hard to fall back.

Moreover, it is understood that industrial customers mostly hold paying positions, most of them are speculators, who are likely to choose to leave the market before delivery, and the departure of empty ones will further support the price and expand the loss of investors.

Otherwise, it will also face a strong situation. The sellers of single position will play a disadvantageous role in the paction of the 1409 contract, which will cause a certain degree of loss to be avoided.

< /p >