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Soochow Futures: Capital Reflux Cotton, PTA Million Yuan On The Sharp Shock

2011/8/25 18:34:00 39

Wednesday PTA

Futures rush

Fall back.

The main contract TA1201 opened at 10196, opened 70 points higher, the highest down to 10208, blocked down, the lowest 10088, to close 10 points to 10116.

open interest

The increase is reduced by 67 thousand to 438 thousand hands, with a turnover of 152 (-68) million hands.

From the post office position, TA1201 futures contract Yongan futures more than 6395 to 34016 hands, galaxy.

Empty futures and additional positions

1236 hands to 22117 hands.

From the point of view of the holding structure, the first 20 positions in the warehouse are 17614 (+16342).

In August 24th, the PTA registered warehouse receipt was 1010, with a decrease of 0 pieces, with an effective forecast of 0 sheets, totaling 1685 hands (8425 tons PTA).

In terms of international oil prices, EIA data showed that crude oil inventories dropped 2 million 200 thousand barrels to 352 million barrels last week, and international oil prices increased most of the time.

In August 24th, New York crude oil futures contract fell 0.28 dollars in October or 0.3% at 85.16 dollars / barrel, ICE Brent crude oil October contract rose 0.84 dollars or 0.77% to 110.15 U.S. dollars / barrel.

The upstream price of naphtha is 952 (+1) US dollars / ton CFR Japan, MX spot price is 1322 (+25) USD / ton FOB Korea, Asia PX spot price is 1652 (-5) USD / ton FOB Korea, PTA dynamic guaranteed price is near 9565 yuan / ton.

PX- naphtha oil price difference is 700 US dollars / ton, PX profit 350 US dollars / ton.

Spot, short term

PTA

Market buying and catching up have wait-and-see, the 10000 pass near the start of the concussion.

On the inside side, the spot atmosphere is relatively wait-and-see.

The PTA price in the market of Jiangsu and Zhejiang is 10000 yuan (+0) yuan / ton, and the price of Taiwan's PTA in the outer market is 1285 (+0) dollars / ton, which is equivalent to RMB 10248 yuan / ton.

The contract price of some PTA producers in August was 10150 yuan / ton.

On the news side, the downstream polyester polyester products steadily increased, the mainstream factories in Jiangsu and Zhejiang provinces maintained good production and marketing, and most factories could barely make a flat or slightly super, some 150% higher, and some slightly lower 6-8.

terminal

In August 24th, the total volume of China Textile City was 627 (+9) million meters, 4 million 950 thousand tons of filament fabric, and 1 million 320 thousand meters of short fiber cloth, including 300 thousand cotton cloth, TC cloth 190 thousand meters, TR cloth 420 thousand meters, and cotton 270 thousand meters.

Technically, the PTA price rises along the 5 day moving average, while the MACD red pillar continues to expand.

Summary: PTA futures launched a shock market above 10000 yuan.

Because of the low external market economic data, the market has been in a wait-and-see state. Some of the capital flows back to cotton futures also caused PTA prices to stop.

At present, PTA is still in the contradiction between the strong fundamentals and the slant.

On the basic level, supply continues to tighten up to stimulate PTA upstream raw material PX price is strong, PTA industry profits continue to PX link pfer, cost support PTA market easy to rise or fall.

The shortage of PX resources has also contributed to the unstable operation of PTA industry.

In August, some PTA producers signed a contract price of 10150 yuan / ton, and also supported the spot market resistance.

PTA downstream polyester industry production and sales rate maintained good, rigid demand for PTA stable.

Terminal gray fabric business capital chain tension, stock up to more than 20 days is a relatively bad factor at the moment, but in September textile consumption peak season is coming, fabric market has improved expectations.

In the face of the poor US economic data, Moodie lowered the sovereign credit rating of the Japanese government and worried the global economy from falling into recession. The United States can launch the QE3 plan at the global central bank meeting waiting for 26 days.

Technically, the PTA daily line is in a long pattern, taking the 5 day moving average as an important trading basis, and taking more money near the bargain and breaking short pactions to stop losses in time.

In terms of operation, TA1201 contracts are mostly single holders, with a stop loss of 9850.

Position control is below 3.