PTA The Price Of The Song Is To Start The Rhythm Of The "Small Motor"

PTA futures broke out, and the main 1701 contract in the morning rushed to 4800 yuan. Then, after PTA had been silent for a long time, did the market break out and sing all the way?

The continuous rise of international oil prices has triggered the enthusiasm of domestic commodities. Petrochemical products came back on Monday, and futures prices rose, but PTA prices rose less than expected, showing a slight lag.

The reasons are as follows:

After the Zhuhai BP1#110 million ton PTA device was accidentally stopped, domestic

The operating rate dropped to less than 6.

At present, the start-up rate of downstream polyester is maintained at around 78%. In October, domestic PTA is still in the out of stock stage.

There are still more than 30 tons of warehouse receipts flowing into the spot market. If so, in October, the supply of domestic PTA is still sufficient. From the perspective of market supply and demand, the PTA market is not out of stock, and the rising space will be limited.

The downstream polyester market is at a golden age. "

High profits, high production and marketing. "

The terminal market is also performing well, and the performance of the downstream market is giving rise to PTA.

It is more difficult to fall.

But at the same time, at present, the excellent performance of polyester is still limited. The focus of attention will be on the sustainability of the current state.

With the sharp rise in international oil prices, the upstream naphtha prices are rising, and some PX profits continue to shift to naphtha.

At present, the price difference of PX- naphtha has narrowed to around $365, and there is still room for further contraction in the latter part.

Although the attitude of OPEC has changed, it is not easy to break the international oil price by 60 US dollars in the year. Besides, it is still in the observation whether we can really implement the reduction plan in November.

At present, the Asian ACP price in October is $780, which is equivalent to PTA cost price of more than 4660 yuan.

At present, the market negotiation base is maintained at around 140 yuan, and the space is limited.

On the whole, the short-term PTA market tends to maintain a strong trend, and the increase is easy to fall, but the space is rather limited.