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pta futures weekly review: good fundamentals support PTA's continued rise

pta futures weekly review (July 27-31): good fundamentals support PTA's continued rise

business news on August 4: supported by good fundamentals, Zhengzhou PTA futures continued to rise this week (July 27-31). The main funds moved positions. The main 0909 contract opened 7536 on Monday and closed 7932 on Friday, This week, it rose 396 points, 440 points higher than last week, with 2.247 million transactions and 36058 positions reduced. Yuanyue 0910 contract closed at 7868 trading limit on Friday, and 9748 positions were increased this week

in terms of the trend, the continued positive trend in the surrounding areas is still a blank support. The upstream and downstream markets are effectively guided, and it is expected to maintain the upward momentum in the short term

crude oil futures on the New York Mercantile Exchange (NYMEX) closed sharply higher on the 31st, after the United States announced that the contraction of gross domestic product (GDP) in the second quarter was less than expected, consolidating the hope of slowing down the economic recession. Dragged down by the trading at the end of the month and the US economic data, the US dollar weakened across the board, making the prices of commodities such as crude oil more attractive to investors. NYMEX September crude oil futures rose $2.51, or 3.75%, to $69.45 a barrel, the highest close since it closed at $69.89 on June 30. The intra day trading range is 64 $74. London September Brent crude oil futures closed up $1.59, or 2.27%, at $71.70 a barrel, with an intraday trading range of 68 $12

PX prices rose this week. PX prices in Asia rose $65 to USD FOB Korea, and PX prices in Europe rose $100 to USD FOB Rotterdam

in terms of contract goods, the PX contract price in Asia was introduced in August, and the contract goods in Asia in August were quoted at US $1040/ton CFR Asia, which was US $20/ton lower than the quotation in July. The contract goods in July have not been settled. ExxonMobil quoted us $1060/T CFR Asia, which was US $100/T higher than the settlement price of some contract goods in July and US $20/T higher than the recommended price in August. The proposed price of the PX contract of new Hitachi in August was US $1060/ton CFR Asia. Sinostone displacement measurement: adopt the coaxial rotation of Japanese photoelectric encoder and lead screw. The contract goods were delivered at the settlement price of 8100 yuan/ton in July, equivalent to the import price of 994 dollars/ton, which was the same as the settlement price in June

the spot price rose sharply, and the PTA and MEG markets continued to rise. The medium fiber price index PTA was at 7850, up 450 points

the petrochemical manufacturers raised the settlement price in July and the listing price in August. Shaoxing Far East Petrochemical (the former Hualian Sanxin) announced that the settlement price of PTA contract goods in July was 7350 yuan/ton, an increase of 250 yuan/ton compared with June. At the same time, the listed price of contract goods in August was 7500 yuan/ton. Sinopec Chemical Sales East China branch issued a PTA contract with a listing price of 7500 yuan/ton in August. Sinopec Chemical Sales East China branch announced that the listing price of ethylene glycol in August was 5800 yuan/ton, an increase of 600 yuan/ton compared with the listing price last month

in terms of devices, it is reported that some domestic PTA manufacturers have planned maintenance recently: Sinopec Tianjin Petrochemical's PTA device with a capacity of 340000 tons/year is planned to be shut down for maintenance in August. A 350000 ton PTA plant in Jiangsu has been shut down for maintenance for about 20 days since the end of last week. Another 320000 ton unit in Jiangsu is scheduled to be overhauled for about 10 days at the end of mid August. A 1.6 million ton PTA plant in South China is planned to be shut down for about 3 days in early August. Last week, a 600000 ton PTA unit in Zhonghua East failed to resume operation at the weekend due to some reasons, and it is planned to restart tomorrow. In addition, Kuwait kppc's aromatics unit postponed its commercial production date from mid August to mid September, and the company's annual PX production capacity was 830000 tons. At present, the domestic PTA operating rate is about 82%, and for a period of time, the domestic PTA load has a further downward trend

in terms of inventory, at present, the inventory level of most PTA manufacturers is low. Traders have basically shipped goods in the consolidation market in the past two months, and the social circulation supply is relatively limited. 396 warehouse receipts for delivery are actually at a low level, providing a solid foundation for the strengthening of PTA prices. According to the statistics of insiders, the inventory of domestic polyester series products is only around 10 days, far below the 20 day high level in the year. The cost of polyester is relatively strong. In the case of substantial adjustment of crude oil, most polyester plants are still very willing to push up their operation ideas, and most of the market are optimistic about the future market. The operating load of domestic polyester plants is maintained at the level of more than 75%. In terms of the total volume, the demand for PTA rigidity in the polyester market is increasing. It is understood that in late July, Cifu has a maintenance plan for its 400000 ton unit, and Shaoxing Yifeng and Jinxin have plans to restart their 20 ton polyester units respectively. The overall polyester load will remain

in terms of import, according to customs statistics, the import volume of purified terephthalic acid in June 2009 was 422800 tons, an increase of 51800 tons compared with may, and the average unit price of customs declaration was 843.62 dollars/ton; The import volume of other terephthalic acid is 89400 tons, and the average customs declaration unit price is 830.53 US dollars/ton

in terms of downstream output, China's chemical fiber output in June 2009 was 2.4652 million tons, up 22.5% year-on-year and 2.79% month on month. In the month of 2009, China's cumulative chemical fiber output reached 12.8849 million tons, an increase of 10.6% year-on-year. The data shows that the downstream demand for PTA is gradually improving. Boosted by this, domestic PTA enterprises have made huge profits

in related industries, in the first half of this year, the cumulative export of textiles and clothing reached US $72.79 billion, down 10.9%. Among them, the export of textiles was 26.94 billion US dollars, down 15.2%, and the export of clothing was 45.86 billion US dollars, down 8.5%. According to insiders, affected by the financial crisis, nearly 80% of China's garment export enterprises have switched to domestic sales. But the good news is that the domestic consumer market has lived up to expectations. From January to May this year, textile enterprises above Designated Size achieved a cumulative domestic sales output value of 1053.247 billion yuan, a year-on-year increase of 9.42%, up 2.79 percentage points from the end of February. The proportion of domestic sales in the industry also increased from 77.07% in the same period last year to 80.03%

in the surrounding markets, Toray industries of Japan plans to increase the price of its synthetic fiber by% starting from the delivery in August. This is the first time in about a year that Toray industries has increased the price to offset higher raw material costs and shrinking market inventory. The price of polyester staple fiber and filament increased by 20 yen/kg. The price of acrylic staple fiber used in winter clothing and nylon filament used in many industrial applications will rise by 30 yen/kg

in general, compared with the same period last year, PTA consumption in 2009 increased by more than 3% over last year. It can be seen that under the background of the financial crisis, PTA demand is still quite strong. September is about to enter the traditional peak sales season of textiles, and manufacturers need to prepare goods for production in advance. It is expected that PTA will maintain an upward trend

note: the reprinted content shall be indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the reallocation of its content for easy detection; The servo motor drives the precision lead screw to drive the loading actuator to move along the Z axis to realize the application of experimental force

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