PTA morning comments on the hottest Jinsui futures

2022-07-24
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Jinsui Futures: PTA morning comments 0909

Fundamentals: PTA spot market is weak, individual quotations in the internal market are about yuan/ton, and the mainstream negotiation is about 7200 yuan/ton. As for the external market, the market price also tends to weaken. Most sellers' quotations are 860-865 US dollars/ton, and some buyers' counter-offer is about US dollars/ton. The mainstream negotiation is about US $850/ton. Polyester Market: due to the decline of the market, the polyester atmosphere in Jiangsu and Zhejiang will continue. Thank you for browsing! According to the survey, POY is mostly in success, while FDY has declined to success. Only DTY sales can still be maintained at a high level; The market of 1.4d polyester short in Jiangsu and Zhejiang is generally stable. At present, the mainstream ex factory quotation is yuan/ton. There is a lot of wait-and-see in the market, and the sales are average. Jiangnan 1.4d polyester short-term increased to 9100 yuan/ton, Sanfangxiang reported 9200 yuan/ton, far east reported 9260 yuan/ton, Huahong reported 9350 yuan/ton, and Jinxue reported 9000 yuan/ton. Naphtha prices are basically stable. The price difference between MX and PX has narrowed to $155. However, if there is insufficient replenishment, it is impossible to maintain the pressure of RMB/ton, which is lower than the normal range of USD/ton. In the future, there is limited room for PX to fall. However, according to the current PX price, the PTA production cost is only around 6260 yuan/ton. In the face of huge production profits, the domestic PTA unit operating rate has been high at about 90% recently

technical aspect: PTA continued to suffer a sharp decline in maintenance, and the period price was pushed up by the average line, and fell back. The market trading was active. Holding the peak and valley values would inevitably lead to inaccurate positions and more than 3000 positions. The short-term rebound was suppressed by selling. The short-term average line suppressed the period price rebound. 7500 posed a certain pressure on the period price, and the future period price will remain low

operation suggestions: in the future market, we will still go back to the bottom of 7000 to seek support. For the idea of being short, please refer to Mr. Bai, 46, who has been with Shen for many years

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