PTA Price Index Temporarily Stable, Test The 12000 Pass
On Wednesday, Zhengzhou's TA1105 closing price rose 42 points to 11922 yuan / ton, and its position decreased by 2716 to 202 thousand. The wait-and-see atmosphere is dominant in spot market. Medium fibre PTA price index temporarily stabilized at 11730 yuan / ton.
On the upstream side of PTA, tensions in North Africa and the Middle East remain the focus of attention. Today's NYMEX-4 crude oil electronic disk fluctuates around us $100 / barrel. With the recovery of the global economy, crude oil prices will remain strong.
Overnight, the mainstream price of FOB Korean PX rose by 5 US dollars to 1656 US dollars / ton, and PTA production cost remained at 9700 yuan / ton.
Because PTA production profit is still high, PTA spot and futures prices will continue to feel the pressure brought by the production power. But in the medium term, due to the different progress of PX, PTA and polyester production, the supply and demand of PTA will be tight in the middle of the year.
Downstream, the Jiangsu and Zhejiang polyester market is stable today.
Polyester and short
The price is stable at 14850 yuan / ton, and the mainstream report of polyester chip is 13600 yuan / ton.
The operating rate of looms in Jiangsu and Zhejiang provinces was around 65% yesterday, equivalent to that at the beginning of December.
Overall, with the rebound in cotton prices and high oil prices, the price of PTA will return to the 20 day moving average this week. PTA will continue to test the 12000 barrier because of supporting factors such as strong cost, tight supply and demand, and inflation expectations.
Operation, TA1105 below the space is not big, can pay attention to 40 day average line support and 12000 gateway pressure, recently, more single visual external disk.
cotton
The change of crude oil price depends on the 5 day moving average.
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