PTA Down To Maintain Weak Consolidation

First, futures market review

NYMEX crude oil futures touched $100 a barrel on Tuesday, due to the weakening of the US dollar, and the number of investment banks with a large number of forecast reports also boosted the investment in the commodity market. Domestic PTA1109 contract opened on Wednesday, supported by the 10 day moving average, the afternoon shock rose, the afternoon plate gradually fell, the closing price closed slightly back, the overall intraday volatility was relatively small, ending in 9498.

Two. Analysis of important factors

New housing sales in the US rose in April for the second consecutive month, and housing supply recorded the lowest level in a year, but a number of second-hand housing materials on the market will be unfavourable to the recovery. Brad, President of the Saint Louis fed, said the US economy is expected to improve steadily, though it may be derailed by the financial instability, including the European debt crisis.

Zhejiang Fujian Market Polyester and short Quotation stability, half light 1.4D mainstream cash offer price is 12650 yuan / ton, 12600-12700 (short delivery). Huahong polyester short quotation reduced, half light 1.4D to outside the province sent to 12850 yuan / ton, Spunlaced Non-woven fabrics 12950 yuan / ton, 1.2D 13150 yuan / ton, and 13850 yuan / ton of cationic staple. Jiangsu and Zhejiang polyester industry is stable, some factories or low price specifications up 100 yuan, part of the price is high, specification preferential sales promotion.

East China PTA spot The market is basically flat, and the holding offer is at 9600-9650 yuan / ton. The market mentality is not good. The delivery price is 9500-9550 yuan / ton, and the firm offer is around 9550 yuan / ton. Downstream polyester polyester product inventory pressure is large, the next intention is low. PTA the import and export cargo market is stable. The Taiwan cargo and bonded goods offer is US $1200-1210 / ton. The firm offer is roughly US $1200 / ton, the Korean cargo and bonded goods offer is US $1200 / ton, the firm price is approximately 1190 USD / ton, the market fundamentals are still weak, the market mentality is not good, the traders hesitate to enter the market, buyers are buying on demand, the sporadic delivery intention is still low, and the firm offer is still light.

Three. Technical analysis and operation suggestion

In terms of technology, PTA109's crude oil futures market rose on Wednesday to boost the growth of the rich, but the domestic economic data disappointed the market, and the growth rate was limited. PTA still maintains disadvantaged finishing. It is suggested in operation that we should enter the field after an effective breakthrough and wait for a while.