The fundamentals of the hottest Zhongcai futures r

2022-07-23
  • Detail

China finance futures: Fundamentals remained stable, PTA shock adjustment

data released by the American Energy Information Association showed that as of the week of June 19, the domestic gasoline inventory in the United States increased. The alliance was composed of 10 member units, 3.9 million barrels to 208.9 million barrels, with an estimated increase of 1.3 million barrels, suggesting that the gasoline demand in summer fell further. Under the pressure of inventory, the price of NYMEX crude oil futures closed lower overnight. The settlement price of main August crude oil futures fell by US $0.57 or 0.82% to close at US $68.67 per barrel. On Thursday, the PTA market rose first and then declined. Ta909, the main contract, opened at 6790. Some long funds entered the market under the support of stable fundamentals, pushing the futures price higher. In the afternoon, short sellers fought back, and the futures price fell slightly, but they still managed to stand above 6800, and finally ended the day's trading at 6814

the overnight PX quotation remained stable, with Asia PX basically stable at 980 yuan/ton FOB Korea and Europe PX basically stable at USD/ton FOB Rotterdam

dragged down by the recent downturn in the futures market, the overnight PTA spot market continued to run in a weak position, and it fell slightly after negotiation. There was a strong wait-and-see atmosphere in the domestic material market. The seller's offer price fell below 7000 yuan/ton. The mainstream negotiation price in the market was concentrated between yuan/ton, down 50 yuan/ton. The consolidation of the external market declined. Generally, the offer price of the ship cargo was around 830 US dollars/ton. The mainstream negotiation price was concentrated between US dollars/ton, down about 5 US dollars/ton. The transaction was deadlocked

on Thursday, the semi-finished slice Market in East China weakened. The mainstream market quotation fell to yuan/ton (cash or March acceptance), and the negotiation price fell to yuan/ton (cash or March acceptance). The trading volume was scarce

according to the statistics of relevant customs data, in May, China imported 334800 tons of PX, the unit price of customs declaration was 1007.3 US dollars/ton, and the export was almost zero; PTA imports 371000 tons, and the unit price of customs declaration is 896.68 dollars/ton; The import volume of MEG is 402300 tons, a decrease of 86200 tons compared with the previous month. The experimental results are credible. The average unit price of customs declaration is 542 dollars/ton

px prices remained stable, which supported PTA production costs to some extent. Although the downstream polyester chip market was still relatively quiet, the market price was relatively strong due to insufficient supply of goods. With the strong boost of upstream and downstream stabilization, PTA's recent decline space was very narrow, which also boosted the popularity of bulls. On Thursday, PTA Bulls' admission funds surged on the disk, pushing forward the price rise. However, the PX price was not optimistic in the late stage. After CNOOC Huizhou 800000 ton unit was successfully put into operation in mid June, Fujia Dahua's annual production unit was officially put into operation on the evening of the 21st, and the preparation of future equipment was decided. At present, qualified products have been produced. Fuzhou Lianhua 700000 ton PX unit is expected to be started in July. Therefore, the newly put into operation PX capacity will further increase the PX spot supply, and PX will face a certain downward pressure again. We believe that the recent PTA price lacks substantial positive boost, but the decline is limited driven by the stabilization of the industrial chain market. It is expected that PTA will maintain the shock consolidation market

note: the reprinted contents are indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with their views or confirm the authenticity of their contents

Copyright © 2011 JIN SHI