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Market Confidence Is Slightly Inadequate, And PTA Is Down.

2011/5/20 11:46:00 37

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Market review: Today

futures market

Confidence is slightly inadequate, and the overall trend is high.

Affected by the rise in crude oil prices, the futures price opened slightly higher today at 9648, and was resisted after rushing to 9700. In the afternoon, it was driven by the sharp decline of the stock index and its plastic futures, and the concussion dropped, ending in 9608, up 34, or 0.36%.

The main contract was closed by 485 thousand and 300 hands, and the positions were reduced by 5 thousand and 600 to 220 thousand and 600.

Fundamentals:

PX:5 18, the Asian market PX prices downward trend.

FOB South Korea reported 1490-1491 U.S. dollars / ton, CFR Taiwan reported 1510-1511 U.S. dollars / ton, compared with the previous trading day fell by 16 U.S. dollars / ton.

Spot: the market in North China is stable, and the mainstream offer price in the market is around 9700-9750 yuan / ton, and the market paction atmosphere is flat.

East China's domestic market is temporarily stable, and the price of the holder's offer is near 9700 yuan / ton.

Import now

The price of the goods market is flat. The price of Taiwan shipping is about $1220-1230 / ton, and the price of Korean goods is about $1210-1215 / ton.

Downstream: May 18th,

MEG

Prices continue to rise, semifluid polyester chips, large gloss polyester chip prices rebounded slightly, CDP slice price trend consolidation, polyester bottle price trend temporarily stable.

The price of polyester has been stabilized and the volume of market pactions has been significantly enlarged. The downstream weaving factories and the bomb industry have all made a small number of filling actions.

The sales situation has improved, while spinning factories have a high inventory. At present, shipments are strong and the downstream market is not ideal.

Manufacturer: Xiamen Xiang Lu petrochemical company lowered its listing price to 10000 yuan / ton in May, down 1000 yuan / ton from the beginning of the month.

Far East petrochemical price in May dropped to 10500 yuan / ton, lower than the beginning of the month price of 500 yuan / ton.

Operational recommendations: today's futures market performance is relatively light, the market volatility is limited, after a slight rebound in recent years, all are in a relatively balanced period of wait and see.

In terms of fundamentals, the rebound in oil prices is a departure from the fall in PX prices. Downstream, with the recent rebound in PTA, the price and volume of polyester trading have rebounded.

The performance of the whole industry chain is still relatively calm, and the short-term impact on the futures market is limited.

On the technical side, the futures price is above the ten day line today, but it can not be grasped. The height of the rebound is relatively hard to grasp. On the operation, we should pay attention to the pressure of the upper 20 day line. 9300-9400, we will continue to hold more than 9300-9400, and we can move the stop position to the 5 line to ensure partial profits.