PTA Market To Reduce Bounce, Keep Short Trend

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Xiaobian of the network to introduce the PTA market to reduce the bounce, keep the short trend.

Inner disk:

On Friday, the main contract of PTA basically opened. After a small increase in the position, the bull market closed, and prices continued to rebound.

Closed at 6742 yuan / ton, up 54 yuan.

The main contract 1501 contract volume reduced by 137 thousand hands, holding a small increase after the warehouse continued to lighten up, the highest increase of 5 thousand hands, closed at the end of the overall position of 58 thousand hand.

Crude oil:

US crude oil futures rose on Thursday and were boosted by favorable economic data.

However, despite the escalation of tensions in Ukraine, Brent crude oil still fell slightly.

NYMEX crude oil futures rose 0.67 US dollars or 0.7% in October, and the settlement price was quoted at US $94.55 per barrel.

ICE Brent's October crude oil futures fell $0.26, or 0.3%, at $102.46 a barrel.

Upstream dynamics:

Upstream PX quotations: on Thursday, Asia's para xylene closed down 10.50 US dollars / tonne from the previous day to 1271 US dollars / ton FOB Korea and 1294 US dollars / ton CFR Taiwan / Mainland China.

Domestic stock:

In the afternoon, PTA opened lower and higher, and the market rose sharply. The center of the US dollar market remained stable and the trading atmosphere was slightly dull. Asian PTA Taiwan and Korea cargo offer was estimated to be at US $970-975 / ton on the $980 / ton basis.

Bonded talks may be about $985 per ton.

PX fell for several days, and early PTA futures opened at a low level. The intraday concussion was the main factor. The focus of the spot market was weak, and the market was mostly on the sidelines near the weekend. There was a lack of clear negotiations. The East China PTA spot offer was at 7100-7130 yuan / ton, with a sporadic delivery of around 7050 yuan / ton, and the negotiation was valued at 7080-7100 yuan / ton.

Downstream polyester:

Today, the price of polyester filament in Zhejiang Far East is stable.

FDY150/96 is executed at 10400 yuan / ton cash.

POY150/48 is executed at 9850 yuan / ton cash.

today

PTA stalemate is weak, prices have slipped slightly, the short staple market in Jiangsu and Zhejiang lacks strong support, the market atmosphere is light, 1.4D direct spinning polyester short mainstream quotation around 9700 yuan / ton, the actual paction price is mainly negotiated, the downstream market atmosphere is light, the demand is low, the terminal customer mentality is cautious, and the enquiry is not strong.

Technical analysis:

The PTA1501 contract takes off the shadow line and the price shock rises.

The track of brink in the daily line descends slowly, and the brin passageway is parallel downward.

In the homogeneous system, short term averages are arranged in a blank arrangement.

Technically, PTA maintains a downward trend.

On the 30 minute K-line chart, PTA opened near the track, and then rose to the middle track after the shock.

The middle track descends, and the brin passageway is down.

The MACD index value is 0 times below the speed line.

Intra day shocks are picking up.

Overview:

Crude oil futures were mixed on Thursday.

today

Shock rebound.

Volume decreased and holdings decreased.

On the technical side, the mid track is slow down, and 30 minutes down the track.

The short-term and downstream influence factors of the spot fundamentals are empty, and the trend of the latter is weak.

It is recommended to hold empty list and pay attention to the 30 minute rail pressure level performance.