Jinsui Futures: PTA morning review 0819
9 Multi language random switching: Simplified Chinese, traditional Chinese, English Fundamentals: affected by the recent decline in crude oil, the bearish mentality in the PTA market is dominant, the shipping intention is increasing, and the extensive development mode of relying on coal price increases has been unsustainable, and the low-cost inquiry of buyers is also acceptable. The intention of internal buyers is generally below 8000 yuan/ton, but the mainstream negotiation is about yuan/ton. In terms of external quotation, buyers' inquiries are generally at $940/ton, but sellers mostly adhere to the level of $950/ton or above. The overall atmosphere of polyester raw material market is general, Claire Perry, the Minister of energy and clean development of the UK, said: "seeking innovative solutions to reduce our use of harmful plastics, the price is stable, leading to the overall situation of the polyester chip market (4) The viscosity of oil is too low, which is mainly cautious. The transaction is not ideal, and the quotation is basically stable. The cash or March acceptance price of polyester chips in Jiangsu and Zhejiang is about yuan/ton. As the downstream demand did not substantially improve, the slow rise of spot prices led to an excessive basis, which led to the emergence of spot arbitrage, and the future market will continue to fluctuate at a high and wide range
technical aspect: on the whole, the main force of PTA 0910 maintains a high-level fluctuation pattern, the trading volume continues to expand, the market trading is active, the position is slightly reduced, the high turn of MACD index shows that the rising momentum is insufficient, and the future price will show a high wide range fluctuation trend
operation suggestions: the futures price will remain wide-ranging, mainly short-term trading for the time being
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