The hottest Haitong futures rose and fell. PTA med

2022-07-28
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Haitong Futures: the mid-term weakness of PTA was hard to change (06.08)

as a result, the overnight PX fell sharply again, and the PTA market was lack of confidence, which continued to maintain the weakness of PTA futures yesterday. The main 909 contract opened 66 points lower by a large margin, and then rose to 6920 line with the oscillation of buying. In the afternoon, the financial market fell sharply. In addition, the use of main short sellers' equipment needs to refer to the relevant experimental standards. PTA fell more than 100 points under the pressure of selling, and the final price closed at 6840, 28 points lower than the settlement price of the previous trading day. The transaction has been enlarged again, the position has increased significantly, and the original market weathervane Dayue has entered the market again with a large number of empty orders, which is worthy of attention

fundamental analysis

in terms of spot goods, the PTA market is depressed, the internal high-quality spot goods offer 6900 ~ 6950 yuan/ton, and the buyers' counter-offer mostly drops to 6800 yuan/ton or less, with few transactions; There were few substantive negotiations on the outside market. The mainstream quotation dropped to around 810 ~ 815 US dollars/ton. The buyer offered 800 ~ 805 US dollars/ton, and the trader was reluctant to sell below 800 US dollars. The market wait-and-see situation was obvious

in terms of raw materials, the sharp rebound of the US dollar made the crude oil market relatively cautious. Overnight, the US NYMEX crude oil futures in July closed down by US $0.35 to close at US $68.09/barrel; The PX decline in Asia intensified overnight, with a sharp drop of US $21 to US $1010/ton over the weekend (FOB Korea, l/c spot)

in terms of consumption, some polyester plants have plans to reduce production and sales. The production and sales of polyester plants are average, with 50-60% of the total in most factories. The price of polyester fiber is temporarily stable, but the range of market promotions has increased. The downstream mills are waiting and waiting, and their intention to stock up in the short term is not strong; The total transaction volume of the textile city rose slightly to 5.82 million meters, and the market passenger flow and new orders maintained yesterday's level

the modernization of technology is by no means the so-called "Westernization" analysis

the price of the season has arrived as scheduled, and the price of the upper film line has been increased. The high-end sales pressure is heavy. It is still advisable to be weak sighted in the near future before standing at yesterday's high, and pay attention to the support of the season line

operation suggestions

for example, the market supply for the use of automobile underbody panels has increased, PX has fallen sharply again, the downstream production and sales have dropped, and the main short sellers have entered the market again. In the near future, the market should be dominated by weakness, and the short orders should continue to be held

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