The hottest PTA has limited room to continue to ri
2022-10-24- Detail
PTA has limited room to continue to rise in the short term
as of the morning of July 15, the intraday price of PTA's main 909 contract reached 7328 yuan/ton, a new high in nearly 10 weeks. Moreover, the contract in September has seen an upward position increase recently. Is it necessary to stage a more short market? Although the September contract is approaching the delivery month, the new main contract of PTA has not yet appeared, and the long and short sides have launched a fierce confrontation on the September contract. In sharp contrast, crude oil continued to fall from above $70 and is currently hovering at a low level of $60. Can PTA's recent departure from the strong rise in crude oil continue? The author believes that PTA will continue to rise in the short term. China composite exhibition is the largest and most influential composite event in the Asia Pacific region
pta's recent rising momentum is difficult to maintain
the main reasons for PTA's recent rise are: PX has recently increased slightly, the price of downstream polyester products has increased to a certain extent, and PTA spot is temporarily tight. In terms of PX, due to the failure of the Taihua device, its unique locking and riveting process can realize the connection of materials with different materials, thicknesses and strengths, which will become a highlight of this "exhibition area of automobile lightweight achievements", resulting in an increase in spot demand. In addition, the volume of new PX commodities has not appeared on a large scale, and the supply time difference makes the supply of spot PX close to the effect of twisting and spraying short, Taihua's move to enter the spot market to purchase PX to maintain PTA production stimulated the interest of PX spot traders to raise prices. Due to the continuous rise of raw material ethylene, Meg's cost support is strong. MEG producers often reduce production and stop production due to their meager profits. The shortage of MEG supply has driven the recent steady rise of polyester product market
a careful analysis of the above reasons shows that the force driving PTA prices to continue to rise is difficult to maintain
note: the reprinted content is 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 authenticity of its content
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