PTA Market Interpretation: Maintain Weak Market Trend

Domestic PTA

At around 65%, PTA spot price is weak.

Polyester market is stable, some of which are still preferential sales promotions, downstream procurement is more cautious.

News: 1, 27, Asian PX price fell 7 US dollars, reported at 767 U.S. dollars / ton FOB Korea and 788 US dollars / ton CFR China.

2. Zhuhai BP110 million tons PT

The plan will be postponed until December.

3, Rongsheng petrochemical November 2015 polyester chip contract settlement price as follows, half light section execution 6100 yuan / ton, glossy slicing execution 6200 yuan / ton, compared with October settlement price cut 100 yuan / ton.

Spot price:

The market maintained a weak trend. The supplier's offer was still raised at 4720 yuan. The market polyester manufacturer's delivery was maintained at 4620-4650 yuan per day. The offer was 4650-4700 yuan, and the trading atmosphere was general. Wait and see was the main point, and the discussion was held near 4650 yuan.

The price of PTA is stable, the offer is near $600-610, and the delivery is maintained at around $590-595. The negotiation is maintained within the range of $600, and the paction is limited.

Conclusion: the US dollar index hit a eight month high and international crude oil fell.

Asian PX prices have dropped slightly.

Technically, the PTA1605 contract fell, the price back to measure 10 day line support, the upper 4520 lines of pressure, the short term tends to be weak and volatile trend, operation, 4450-4520 interval trading.

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In late November, the price of seed cotton purchase, sale price, cotton short price and lint 3128B (2128B) pickup price "four line" linkage rose, and the market became more and more lively than that in 9 and October. The interaction between inland oil extraction factories, cotton textile enterprises, and lint operators was also much more active. However, from the survey point of view, it is still dominated by cotton enterprises and cotton customers in the territory.

According to the survey, in late November, the purchase of seed cotton in Tacheng, Kuitun, Shihezi and other cotton fields in Northern Xinjiang has ended. Processing, warehousing and warehousing have become a top priority. Only a few cotton companies are still buying flowers from autumn peach, frost period and frost, but the average daily purchase volume has dropped to 30-70 tons.

Two cotton processing enterprises in Jinghe and Shawan indicated that although the purchase volume declined significantly, and the seed cotton rank, grade and quality decreased as a whole, cotton growers and cotton planting units did not have a high expectation for later flowering period, and cotton enterprises had a relatively large space to lower their pressure levels. At present, the seed cotton purchase price was lower than 5.3 yuan / kg (38% lint percentage and 14% moisture content).

Shihezi, Urumqi and other specialized cotton warehouse reflects that this year, Kuitun, Shawan and other places, the level and quality of machine picked cotton is better. In addition, cotton enterprises improve the quality of rolling mills, increase the miscellaneous distribution and strictly control "three silk". Therefore, the price of lint 3128B produced in Kuitun is higher than that in Shihezi and bor District, which is 200-300 yuan / ton.

At present, the procurement of textile enterprises is mainly based on "buying and selling with the purchase", not stockpiling stock of raw materials. The purchase of several batches of cotton in Xinjiang is not cost-effective, so most of them are commissioned or jointly purchased by cotton middlemen and are responsible for shipping within the territory.

In addition, the bank's support for loans declined, plus cotton yarn, grey cloth and other finished products inventory slowly rising, spinning enterprises "watching dishes chopsticks" thought increased.