PTA morning review of the hottest Jinsui futures 0

2022-09-21
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Golden spike Futures: PTA morning comment 0728

Fundamentals: the continued rise of European and American stock markets and the continued weakness of the dollar have made crude oil stand at $68. Recently, crude oil has played a more obvious role in supporting PTA's cost. Meg's market price is strong and the trading atmosphere is relatively general. Due to the fierce PTA, most traders turn their attention to the PTA sector. Meg's internal quotation rises to 5750. The so-called degassing test is -5800 yuan/ton, and the mainstream negotiation is about 5700 yuan/ton. In terms of external market, the quotation basically sticks to USD/ton, and the actual negotiation is about USD/ton. In terms of polyester, affected by the rising trend of raw materials, polyester products are generally bullish today, and the overall production and sales are good. Affected by the rising PX price of raw materials, the PTA spot market rose sharply overnight, and the supply of domestic materials was scarce. The seller's quotation was increased by 100 yuan/ton to 7400 yuan/ton. The mainstream negotiation price in the market was concentrated at yuan/ton, with an increase of 150 yuan/ton. The atmosphere of the external market is good, and the seller offers less actively. The inquiry price of the buyer is $per ton, while the mainstream negotiation price is concentrated between $per ton, with an increase of $10 per ton. The inventory of polyester POY in the downstream has also been hovering at a low level, and the high price of PX in Asia and Europe, especially the screw thread at the connection port of each oil pipe, will provide a certain support for PTA. However, PTA plant is still in high load operation recently, and PTA supply will increase in the later period, so it is not suitable to catch up blindly

technical aspect: PTA main force 0909 rose strongly yesterday, and the Bulls continued to rise, steadily standing near the early pressure level of 7500. The daily line closed above the positive line, and the price center of gravity moved up. The bull atmosphere was obvious in technical indicators, but the trading volume and position fell. Whether the bulls could continue to rise remains to be tested by the market

operation suggestions: it is expected to be mainly upward in the session. It is suggested that short-term bargain hunting should be more than short-term, multi order light positions should continue to be held, and the final exit position should be moved up to the 7500 line

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