PTA Today Opened Slightly Higher &Nbsp; The September Price Was In Short Stalemate.

PTA quickly opened up after a small opening today, and the 1101 contract is still better than 1009. 1009 opened in 7224, the lowest probe 7156, ending in 7196, compared with yesterday's average price of 12 yuan, 98750 days hand traded, holding 4638 hand to 112476 hands; 1101 opened at 7560, the highest 7618, the lowest 7618, the larger the amplitude, the final closing to the average, the average price rose yesterday, hand in hand.

From the position of the top 20 positions in the 1101 contract, there are larger positions in both sides of the market today, with a 2681 increase in the number of bulls and a 4020 increase in the stock market.

Spot market:

today Goods in stock The market atmosphere is acceptable, the underlying seller is less than 7100 yuan / ton, and some of the polyester factories have increased to 7080 yuan / ton. The offer for Taiwan's products is mostly 865 dollars / ton, 860 yuan / ton below the shipment intention, and there is not much market discussion for individual purchase of 858 U.S. dollars / ton.

Upstream raw materials:

Overnight crude oil continued to fall and downstream products stopped rising or falling. WTI fell 0.51 to 76.99, Brent dropped 0.07 to 76.06 U.S. dollars / barrel; naphtha fell 5 US dollars to 647-650 US dollars / ton CFR Japan; heterogeneous MX fell 4 US dollars to 768-769 U.S. dollars / ton FOB Korea; Asia PX fell 6 US dollars to 886-887 U.S. dollars / ton FOB South Korea, Europe was stationary in 890-894 dollar / ton FOB Rotterdam, the United States fell to the US dollar to the US dollar / ton FOB Gulf of America.

Downstream consumption:

Due to the good production and marketing, the load of polyester and filament staple fibers in the recent chemical fiber network has increased again. At present, the load of polyester plant is 82%, the load of filament is increased by 1%, and the load of short fiber is increased by 2.2%. At present, it is 66.1%, which is at a historical high level of 2 years.

Today's Jiangsu and Zhejiang provinces Polyester filament Production and marketing maintenance, most factories can barely make flat or slightly super, 130% higher and 5-6 lower. Under the condition of low inventory, some factory quotes continue to push slightly, and the mainstream cash is quoted from factory to 9500-9550 yuan / ton cash. The mainstream market of polyester filament Market in Jiangsu and Zhejiang is stable, the atmosphere of structural adjustment is weakened, and the quotation in Xiaoshao area is stable. Individual factories POY and FDY fine denier yarn increase moderately by 100, and the mainstream cash of polyester POY, DTY and FDY150D is 11100-11300, 12300-12600, 11800-12000 yuan / ton respectively.

Comprehensive comment:

Today, PTA A small open high, then high and soon down, keeping the situation within the day. 1009 volume has dropped to below 100 thousand hands, 1101 to 428 thousand hands, and funds continue to shift from 1009 to 1101. 1009 due to the rapid withdrawal of funds and the cancellation of the warehouse receipts in September 15th, most of the goods are expected to flow to the spot market, and the price is particularly weak. It is expected that as the delivery date approaches, the price of the contract will gradually move closer to the spot price in September. And the 1101 contract has been steadily on the 30 day moving average, the price continues to oscillate sideways, the two sides compete on the 7500 front line, but because the current external environment is generally good in the short term, the desire to suppress the market price is not strong enough, and the bull chase is also more cautious, and the price is in short stalemate.

Looking back at this rally, the main force came from the rebound in stock market and crude oil. During the period, there were some news stimuli, such as the shutdown of PTA devices and the start-up of new downstream devices. But the news has been digested by the market, crude oil is also in the concussion period, and the latter is mainly concerned about the stock market trend. However, because the fundamentals of PTA oversupply are difficult to get a fundamental change in the short term, the price will still suffer from larger inventory pressure. From this point of view, PTA is still not optimistic for a long time. As the current price is in turmoil, it is recommended to continue to wait and see in the short term.