PTA morning review of the hottest Jinsui futures 0

Jinsui Futures: PTA morning comment 0814

basically, the elongation value obtained in the soft copper test with a speed of no more than 300mm/min is of no practical significance: affected by the market's optimism about the prospects for economic recovery and the decline of the US dollar and other factors, the international oil price continued to rise on the 13th, and the oil price once rose to more than US $72 per barrel and closed at US $70.52 per barrel. The PTA spot market trend turned downward, the seller's offer price in the domestic material market was reduced by 100 yuan/ton to around 8200 yuan/ton, the buyer's inquiry intention was below 8100 yuan/ton, the market negotiation atmosphere turned weak, and the actual transaction was relatively deadlocked. In the external market, generally, the quotation price of shipping goods is around 970 US dollars/ton, and the buyer's inquiry intention is about 960 US dollars/ton. The market hype atmosphere has cooled down, but the negotiation is relatively light. In terms of raw material p-xylene, the Asian market price rose slightly by $1.5/ton to 1132, US $133.75/t FOB South Korea, and the European market price closed steadily at US $1, 035/T FOB Rotterdam. Recently, PTA city has become an irreplaceable material market, with a sharp shock, which makes the polyester market with little fundamentals gradually confused. The market wait-and-see atmosphere and mood have been strong, and the operation is more cautious than that in the early stage; The production and sales of polyester yarn in Jiangsu and Zhejiang are average, with most factories accounting for 40%, while some factories are relatively low, and some of them are relatively high, which can be barely leveled. In the early stage, some textile enterprises purchased the production raw materials of the fourth quarter in advance, which also brought hidden worries to the 1pta demand of domestic output in the later stage

technical aspect: after the position increase of 0910, the main force of PTA, went down in the morning yesterday, the whole day was in shock consolidation. The market trading was active, the positions increased, and the closing line was negative. The best measure showed that the focus of the period price began to move down, the short-term average system began to entangle, and the long and short differences were serious. Technically, there was still a need for adjustment in the short term

operation suggestions: it is expected that today's intraday trading will be dominated by shocks, with light positions and short-term participation

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