Commodity Prices Rise, PTA Futures Market Rises Sharply

PTA futures

The market has risen sharply, ending a long trend of consolidation and a slight rebound in the market.

Affected by this impact, the domestic market in eastern China rose sharply. The mainstream offer was 9450-9500 yuan / ton, and the negotiations were mostly over 9400 yuan / ton. Although the market was mostly exploratory enquiries, the trading atmosphere was more positive, which suppressed the long time market finally broke out. In terms of us gold plate, the Taiwan product supply market was quoted at 1195-1200 US dollars / ton, and the negotiation was carried out at 1180-1185 US dollars / ton. The market reached a good state of mind at this price, and the mainstream Korean negotiable trade reached more than 1160 US dollars / ton.

commodity

All of them have gone up sharply and have more influence on the domestic market today.

PTA spot

Although it was not up enough yesterday, the cotton trend at night is expected to rise sharply today.

Technically, the PTA bull market has fully confirmed that the short term stability of the weak dollar and China's regulatory policies may make commodities continue to rise again.

However, we believe that because of the obvious increase in rubber that did not take place yesterday, the fluctuation of this increase may be enhanced.

PTA sharply increased its position yesterday. We think PTA is still possible to go up.