The hottest May 20 PTA morning assessment waiting

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PTA morning review on May 20: waiting for direction guidance PTA shock adjustment

Zhengzhou PTA futures closed slightly higher on May 19, of which 1009 contract opened 7520 yuan/ton, the highest price 7636 yuan/ton, the lowest price 7462 yuan/ton, closed 7570 yuan/ton, up 28 yuan or 0.37, trading volume 448300, position 181456. Recently, with the continuous downward volatility of futures, the overall fundamentals of PTA began to adjust weakly, and the support for futures prices was relatively weak; From the market trend, intraday futures prices continued. The market opened lower and rushed higher, but in the late trading, the pressure of reducing positions fell back again, and the long and short differences were more obvious. Under the current macro background, the bull's initiative to push up is still insufficient, waiting for the market's further direction guidance

in the upstream market, although the market's concerns about the prospects of European recovery have intensified, the Federal Reserve of the United States (FED) raised its expectations for U.S. economic growth, which boosted oil prices. Crude oil futures on the New York Mercantile Exchange (NYMEX) rose on the 19th, reversing the continuous decline in the past six trading days. NYMEX June light sweet crude oil futures contract rose 46 cents, or 0.7%, to $69.87 a barrel

in the downstream, the semi-finished slicing market in Jiangsu and Zhejiang region was relatively stable yesterday, and the factory quotation was still more than yuan/ton (cash acceptance), which can be negotiated and expected to be yuan/ton (cash), and the buyer's trading was still not much. The polyester staple fiber market in East China is weak. At present, the transaction price in East China is yuan/ton, and that in North China is yuan/ton. Yesterday, the decline of polyester Market in Jiangsu and Zhejiang decreased, and the decline of some varieties was obvious, such as FDY, partial POY was on the high side, and the price was reduced. At present, polyester POY mainstream negotiation is RMB/ton, polyester FDY is around RMB 11800/ton, and polyester DTY is around RMB/ton

pta spot atmosphere stabilized, and the market temporarily focused on futures and other disk trends. A small amount of Taiwan produced spot goods are still reported at $880 or above, some buyers have delivered 87 and showed the corresponding data of $0, and the transaction negotiation is deadlocked near the level of $per ton or above. A small number of buyers of high-quality Korean products delivered 850 US dollars. Because there was a deal near 855 US dollars yesterday, the seller's low-cost shipment in the morning was temporarily on the sidelines. In terms of internal trading, the market atmosphere in the morning was general. Although some traders still offered at 7300 yuan/ton, the trend of futures in the morning was general, and the spot popularity could not continue the state of Tuesday afternoon for the time being. The transaction negotiation was still in progress, and short-term attention was paid to the changes of futures

PTA futures in Zhengzhou rebounded, the pessimism in the spot market eased, and the internal and external market was flat and stalemate. However, the market price of downstream polyester products continued to decline weakly, and the inventory of polyester factories increased. Meanwhile, the decline in international oil prices and weak demand dragged down the price of raw material paraxylene. On Tuesday, the closing price of the Asian market fell sharply by $18/ton, and FOB South Korea closed at 971 75 US dollars/ton, CFR Taiwan closed at 989 75 dollars/ton. In terms of device dynamics, due to mechanical failure, the 1.5 million ton PTA device of Dalian yishanhua was also used to manufacture auto parts and components such as auto instrument panel peripheral fracture surface and the axis of the test piece, antifreeze plate, door handle, negative flow plate, bracket, steering column sheath, decoration plate, air conditioning system accessories, etc. due to mechanical failure on May 15, China Jialong Petrochemical's 600000 ton/year PTA new installation in Shishi, Fujian Province was shut down for maintenance on May 11. The shutdown of these two sets of devices has eased the abundant supply situation of PTA spot market, but due to the reopening in recent days, the late supply situation of PTA market will still be abundant. Therefore, PTA market fundamentals are still weak

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