pta futures after two days of rebound, again fell, although the range is not large, but shows a weak trend. ta009 opened 8526 yuan/ton, closed 8518 yuan/ton, the highest price 8560 yuan/ton, the lowest price 8504 yuan/ton, compared with yesterday's closing price, up 34 yuan/ton. turnover fell to 200,000 hands, the position increased by 5,000 hands or so to reach 200,000 hands. the proportion of trading volume and position holding is equal. the inactive trading volume determines that the fluctuation range of pta futures price is too narrow and there are few opportunities for speculators.
we see pta futures fundamentals.
px prices did not rise much. asian px rose $10 to $1035-$1040 / ton fob rotterdam on april 21, while european px rose $5 to $1045 / ton fob rotterdam. asian isomer mx rose $7 to $930-935 / ton fob korea, naphtha rose $10 to $763-767 cfr japan. px manufacturers of single units are still losing money.
pta spot trading continued light. pta market atmosphere is light, the price is basically maintained to adjust the situation. the price quoted by the seller of the inner plate is maintained at around 8150-8200 yuan/ton, while the mainstream negotiation is about 8100-8150 yuan/ton. as for the outer plate, the price quoted by the seller of taiwan goods is maintained at around 1000-1005 dollars/ton, and the negotiation is at around 995 dollars/ton.
according to the spot price calculation, pta profit maintained at about 1600 yuan/ton. it is said that the pta contract price may be 8400 yuan/ton in these two days, but the polyester factory attempts to suppress pta price, so it exerts influence through futures.
jiangsu and zhejiang polyester gas slightly reduced, the overall production and sales fell slightly compared with yesterday, poy production and sales more in the vicinity of 7-8 percent, dty, fdy slightly better basic level line. xiaoshan a mainstream large factory today silk price more maintenance; now its fdy66/24, 150/96 acceptance 13950, 12600 yuan/ton; now its 75/72 light mesh acceptance 15600; 150/48 low-elastic acceptance 12900 yuan/ton. the price of another major mainstream silk factory in xiaoshan has been maintained. now its poy150/48 has accepted 11400 yuan/ton. fdy68/24 and 150/96 accepted 13,800 yuan and 12,700 yuan/ton, while dty150/48 low-elastic and 300/96 low-elastic accepted 13,000 yuan and 12,000 yuan/ton.
from the upstream and downstream situation, the current signs of px stabilizing are very clear. the price of polyester filament is affected by the decline of the production and sales rate. after the previous price rise, it once again balances at a price level. pta spot performance is weak, that is, polyester enterprises in the early stage of centralized procurement, to sporadic procurement or expand the proportion of contract goods.
as for korean goods, there is a rumor in the market that the import volume may increase sharply from march. the reason is that pta profits are extremely rich now, and korean goods lose 20-30 dollars/ton and still have money to earn. especially during the expo, china's ministry of commerce will not introduce more policies against trade barriers. perhaps in this concern, pta futures prices have made a response in advance.
imports increased again, may allow pta traders to destocking earlier. if the price really falls, pta factories may try to deal with pta import again.
pta futures are obviously affected by the stock index futures. the transaction volume keeps declining and the non-industrial funds are decreasing day by day. more importantly, it is the competition of industrial funds. open position is high and do not fall, more is the trader's hedging or arbitrage dish, yes, the price remains high. of course, it is difficult to rise, the key is that there is no new money to promote it.