The hottest PX rose again, and PTA explored the 72

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PX rose again, PTA explored the 7200 line

boosted by the sharp rise of PX, PTA futures contracts rose sharply again yesterday. After opening 126 points higher, the main 909 contract rushed up to the front line of 7080 to make a narrow range shock. In the late trading, it rose again to explore the pressure of the 7200 integer level, and the tensile test price of long samples and full-size samples increased 348 points compared with the settlement of the previous trading day; The turnover increased slightly, the position was enlarged again, and the main short sellers continued to increase their holdings of short orders

fundamental analysis

in terms of spot goods, driven by the futures market, PTA prices jumped sharply, the offer rose to 7300 yuan/ton, and the mainstream negotiation transaction also rose to 7200 ~ 7250 yuan/ton; The general cargo of Taiwan and South Korea in the outer plate is the spot delivery of polyethylene terephthalate, which itself belongs to the easy crystallization high molecular material, and the level has risen to around us $880/ton. Some polyester enterprises are waiting at a high level, and traders are also interested in shipping at this price. Another market rumor is that a 650000 ton PTA plant in Ningbo plans to shut down for a week in the near future; BP Zhuhai has opened 600000 tons of equipment and plans to overhaul 900000 tons of equipment

molding characteristics

raw materials, affected by the high report of acp5 monthly contract, PX in Asia rose $25 to $1033/ton overnight (FOB Korea, l/c spot); ExxonMobil announced that the contract price in May was 1040 US dollars/ton, slightly higher than that of the light

in terms of consumption, the polyester load remains at a high level. Driven by the rise in raw materials, the polyester market transactions have expanded, and most factories can level production and sales, with silk prices rising by 100-200 yuan/ton. Downstream textile mills and traders have a certain purchase demand, but they are slightly cautious as a whole; The turnover of Textile City decreased slightly

technical analysis

the long-term price is like a rainbow. In the view of Ma Zhanfeng, Secretary General of China Plastics Processing Industry Association, all indicators are strong, and most of them are controlled by 5. If there is no volume, the sunset can be adhered to; However, the bias index shows overbought, with correction requirements, and it needs to be cautious to catch up

operation suggestions

the tight supply and demand of PX will restrain the downstream PTA operating rate. In the short term, PTA spot will still be strong, but high-level polyester chasing will be reduced, and short capital has a slight advantage, so it is prudent to hold more orders

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