PTA morning review of the hottest Jinsui futures 0

Golden spike Futures: PTA morning comment 0923

Fundamentals: the overall gas in the PTA spot market should be cut off immediately. The atmosphere is still biased. What are the good plans in the field of non-metallic materials to improve the user experience? The wait-and-see mentality is dominant. The polyester Market Performance is sluggish. Downstream weaving mills and texturing enterprises have very low purchase enthusiasm. Prices in the market continue to show a downward trend, and the trading atmosphere is still light after the price fall. At present, the downstream weaving and texturing enterprises have a heavy wait-and-see mentality. It was once difficult to purchase polyester in large quantities, and the inventory of spinning manufacturers has increased. In order to strive for preferential shipping, the action of promotion and price concessions has been correspondingly strengthened. Due to the upstream raw material cost pressure and the extremely low production and marketing rate, the trend of polyester Market fatigue and decline is likely to continue. According to the data of the National Bureau of statistics on the proportion of various raw materials, in August this year, China's chemical fiber output was 2.405 million tons, an increase of 25.3% year-on-year and 3.34% month on month. From January to August 2009, China's cumulative chemical fiber output reached 17.5855 million tons, an increase of 13.3% year-on-year

technical aspect: on the whole, PTA still maintains a downward trend with a width of 15 ± 0.1mm, and the price above 7000 poses great pressure on the futures price. Yesterday, the futures price showed a trend of rising and falling, and the weakness remains. The market trading is active, and the average short position arrangement suppressed the rebound space of the futures price. The downturn of the spot market has a restrictive effect on the futures price, and the future price will show a low-level fluctuation pattern

operation suggestions: the weakness remains the same, and you can take light positions and short positions in case of rebound

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