Market Trading Sentiment Is Cautious&Nbsp; PTA Weakness Closed Lower

Zhengzhou PTA futures opened low and ended down in shock on the 6th, with the main contract 1205 closing at 9168 yuan/ton, down 40 yuan/ton. National crude oil prices are still high, PX prices are higher, supporting PTA costs, and PTA capacity extend It may be delayed, and the capacity will be expanded in the near future. At the same time, downstream demand is expected to improve in the near future. All the good news has boosted the market. However, yesterday's government work report said that the government's goal this year was to control economic growth, and the market was affected to decline. It is expected that PTA will continue its weak adjustment in the near future.

The electronic trading of crude oil futures on the New York Mercantile Futures Exchange (NYMEX) fluctuated widely on the 6th day. Although there has been a correction in the last two days, the crude oil market still seems to be dominated by bulls. Stimulated by geopolitical and economic data and other factors, the international oil price recently hit a new high for nearly 10 months, once exceeding $110. Although economic data of various countries Joy and sorrow Half, but it still resists the strong trend of crude oil and will remain strong in the near future. As of 15:00 Beijing time, NYMEX March crude oil futures reported $106.78 per barrel, up $0.06.

In the domestic market, the production and sales of downstream varieties, especially POY and polyester staple fiber, exploded last Friday (March 2), with local production and sales between 300% and 500%, the price center slightly moved up, and the performance of FDY and DTY was relatively ordinary. The polyester production and sales in Jiangsu and Zhejiang were generally good at the weekend, and most of them were flat. This is in line with the PTA industry in March generally expected by market participants quotation There will be improvement and confirmation.

Upstream raw materials, PX price has been rising steadily above 1600 US dollars/ton (CFR Taiwan) since February. Last Friday (March 2), it quoted 1683 US dollars/ton, which was the biggest single day increase since January 4 compared with the 30 US dollars increase the previous day. Based on this, the dynamic cost of PTA is 9341.1 yuan/ton. With the current price of 9120 yuan/ton of PTA spot in the East China market, PTA factory has a loss of more than 200 yuan/ton.

In the spot market, the market of PTA in North China is flat. The market offer price is about 9200 yuan/ton, the downstream manufacturer's bid price is about 9100-9150 yuan/ton, and the actual negotiated price is about 9150 yuan/ton. The supply of goods in the market is fair, the downstream demand is flat, the market trading atmosphere is poor, and the actual negotiations are scarce. PTA's domestic trade market in East China is flat. The offer price of the holder is about 9150-9200 yuan/ton, the downstream bid price is about 9050-9100 yuan/ton, and the actual negotiated price is around 9100 yuan/ton.