Downstream Polyester Demand Warmer PTA Bull Market Situation

< p > strong > upstream a href= "http:// www.sjfzxm.com/news/index_c.asp" > PX < /a > high operation < /strong > /p >
Since P > July, the price of PX in the external market has seen a trend of high and broad amplitude oscillation. As South Korea's three sets of 3 million 300 thousand tonnes and Singapore aromatics 800 thousand tonnes of new equipment come into operation, the market's expectations for increased supply are becoming more intense. The price of the external PX has dropped nearly 100 US dollars / ton a week. < /p >
< p > although the new plant has been put into operation for a larger impact on the < a href= "http:// www.sjfzxm.com/news/index_c.asp" > market < /a >, however, the supply has not increased significantly under the effect of partial production or partial load reduction in some Asian regions. Therefore, from the cost point of view, the high price of PX will limit the price of PTA. < /p >
< p > < strong > < a > href= > http:// > www.sjfzxm.com/news/index_c.asp > PTA < /a > strict control of production rate of production enterprises < /strong > /p >
Since May this year, in order to curb long-term losses, domestic PTA production enterprises have adopted measures to limit production and protect prices, and artificially reduce the operating rate to balance the contradiction between supply and demand. P Since July, as the demand for terminal textiles has declined, the average operating rate of domestic polyester enterprises has been declining. In order to ensure that there is no obvious excess supply, the domestic PTA production enterprises continue to strictly control the operating rate strategy, resulting in a relatively balanced supply of domestic PTA and the current price of Gjen. < /p >
< p > it is expected that in the absence of large profits in the industry, the agreed material for controlling the starting rate of PTA enterprises will continue. Therefore, in the case of joint quotations from PTA manufacturers, the situation of strong spot prices will continue. < /p >
< p > < strong > downstream polyester demand warmer > /strong > /p >
< p > after the continuous decline in July, the operating rate of domestic textile enterprises began to pick up in August, and the seasonal peak season awakened the enthusiasm of the terminal textile enterprises to start. Domestic polyester production and sales rate has markedly improved, thereby driving some polyester products prices up and down, and the general loss and difficulties of production enterprises have been improved. Therefore, with the downstream demand warming, the PTA price is expected to continue to rise. < /p >
< p > < strong > 1501 deep discount spot price offer support < /strong > < /p >
< p > at present, the difference between the 1501 contract and the spot price is about 500 yuan / ton, and the futures are in deep discount. In the situation of maintaining a strong spot, with the passage of time, the probability that futures will move closer to the spot will be larger. Moreover, such a large margin will limit the futures downside to a certain extent. < /p >
< p > to sum up, the author believes that there is a possibility that the 1501 contract will continue to rise if there are more fundamentals and futures discount. On the operation, it is suggested that investors take the strategy of bargain buying. The reference interval is 6950 - 7050 yuan / ton, and the target price is 7300 yuan / ton. Later, once the price is effective, wear 6850 yuan / ton, so more single need stop loss. < /p >