Home >

Today'S Trend PTA Still Looks Down On The Overall Decline Of Cotton.

2011/3/9 17:04:00 50

The overall decline in the market will affect PTA's decline. Today's trend is still PTA.

cotton

Upstream market

Crude oil futures fell slightly on Tuesday, down from a 29 month high. Several major oil producing countries are considering increasing oil production to make up for the deficit in Libya's production. It is reported that Al-qaddafi is looking for a suitable way to step down.

Oil prices fell 42 cents, or 0.4%, at $105.02 an ounce.

Yesterday, Asian PX prices remained high and volatile, with stagflation of $1655 / ton CFR, Taiwan rising by 2 US dollars / ton.

Spot market

Due to the overall systematic adjustment of the capital market,

PTA futures

The market is still weakening this afternoon. The number of shipments in the East China market has increased significantly in the afternoon, but the downstream is more cautious.

At present, the main market in East China's domestic market is 11550-11600 yuan / ton, but the downstream market has dropped to 11400-11450 yuan / ton, and the negotiations are expected to remain at around 11450-11500 yuan / ton.

Heard that the real single reached at 11500 yuan / ton.

In the afternoon, the price of the US gold plate is weakening, and the shipment intention of Taiwan's supply market is increasing. The mainstream offer is 1505-1510 US dollars / ton, and the delivery is mostly within 1500 US dollars / ton. We heard that the market reached a real value of 1505 US dollars / ton in the afternoon, and the selling price is still at a low price. At present, the market quotation is 1495-1500 US dollars / ton, and the chassis has dropped to 1480-1485 US dollars / ton.

Futures market hints

For the PTA fundamentals, terminal demand remains stable, though it may be difficult to produce explosive growth, but it will not decrease.

Therefore, the demand faced by PTA in 3 and April is stable and good.

However, a major problem facing the PTA industry chain is that polyester polyester is mostly negative.

This also inhibited the increase of PTA.

We have already mentioned in monthly reports that due to the high demand for PTA, but because of the limited acceptable price increase in the downstream, the trend of PTA in March will be very similar to the trend from last February to April.

Yesterday, the domestic market was hit by the collapse of rubber.

commodity

There are different degrees of diving.

And cotton rose sharply last week, and a sharp fall yesterday, which led to the fall of PTA.

PTA1105 had a noticeable buy in between 11350-11400.

And due to the sharp fluctuation of futures, the main contract is present to the spot.

In view of the overnight market, relative to yesterday's closing, no further deterioration, but the United States cotton closed at the limit to the domestic cotton market confidence to bring a blow.

For today's PTA, cotton trend is still concerned, such as cotton fell further, PTA's decline can not be avoided.

If it stabilizes, there may be a clear upward trend.

As far as operation is concerned, judging from the overall trend of no big trend in March, I think the current PTA can choose to buy below 11500 and gradually liquidate on the top 12200.

But for intervention time point, it is recommended to wait for the disk to stabilize after operation.