PTA: The Species That Has Been Silent For Half A Year Will Get Out Of The Market.

At present, the PTA downstream polyester is in good demand during the peak season. The overall load of PTA is relatively low, and supply and demand are in a tight balance.

Then, what kind of chemical reaction will happen when industrial capital meets financial capital? What kind of change is brewing on PTA futures?

"Taking into account the potential resumption of production, this state is only phased.

PTA third largest Xiang Lu Petrochemical Company and the fourth major Far East petrochemical companies that have failed in the previous period have completed the acquisition, which is expected to achieve a resumption next year. This impact on PTA is very huge. PTA has gone back to the production process. From the current situation, there is no change in the spot supply of PTA, and the rise in prices is also mainly due to the cost increase.

Huang Liqiang said.

Qian Tao said, at present, the warehouse receipt is about 500 thousand tons, and it should also be the dominance of PTA stealth inventory, while the upper and lower reaches keep normal production while the social stock gradually moves to the futures warehouse receipt.

Xiang Lu and the Far East may expect a return to work in the first quarter of next year. If the news is true, the supply and demand pattern of PTA will shift from stock to storage next year.

He said that for PTA investors, the species that has been silent for half a year will come out of a wave of market, which is a good thing.

However, the current direction is not very clear. What will be the next step in the intervention of multi funds? Will there be no goods left in the short term of the industry's hedge funds? It is still the most concern of the market.

A large number of futures tools are conducive to the full play of the price discovery function in the PTA futures market, which is conducive to the smooth operation of the futures market, reducing the risk of skyrocketing and tumbling brought about by the intervention of financial capital, and also ensuring the liquidity of the futures market.

"Because the current base is currently around 120-140 yuan / ton, for industrial capital, there is enough space to engage in the risk free arbitrage strategy of buying and selling futures.

Therefore, although the PTA increased substantially, but the price rose little, indicating that industrial capital in the market is not out of stock, the bottom of the wind into the futures market short selling.

Qian Tao pointed out.

But at the same time, Qian Tao analysis said that before the financial capital flows into the market, it should have a full study of the fundamentals of PTA, and making more capital will lead to changes in the whole disk pattern. Short selling should also take into account that if hot money continues to rise, will there be a margin risk?

Huang Liqiang said that PTA capacity is serious overcapacity,

When the price is higher, industrial funds will enter the market, so the price of PTA will be limited in this year's Daniel market.

Taking into account the relatively concentrated industrial funds and adequate supply, the entry of new capital will only affect the trend of PTA in stages, and will not change the overall operation mode of PTA.

"The influx of new capital will push up the price of PTA, which will boost to a certain extent in the near future.

The upstream and downstream market psychology, but whether we can continue to see whether the price rise can get the coordination of upstream and downstream industries, whether or not upstream materials are rising with the price increase, the enthusiasm of downstream polyester for the raw materials, and the effective mobilization of stock market enthusiasm in the spot market, and this ultimately depends on the judgment of the basic situation in the medium and long term.

Fang Ling Hui said.

She said that the sharp rise in futures prices led to a marked increase in the spot price of the 20 day market, with the main supplier selling more than 30 thousand tons on a daily basis.

With the rise of spot prices, polyester factories did not take part in high position dishes. On the contrary, many polyester factories had high forward contracts.

On the whole, suppliers in the spot market are actively shipping goods, and the psychology of catching up and catching up in the spot market is more cautious.