Haitong Futures: there are obvious differences in funds. PTA was weak and volatile (5.18)
yesterday's inner market was boosted by PX's stop falling. Yesterday, PTA futures contracts maintained a weak and volatile situation. The main 909 contract opened slightly higher by 86 points, and the intraday probe on the 7100 line failed. Later, it fluctuated narrowly on the 7050 line and closed at 7044, up 52 points from the settlement of the previous trading day. The deal is magnified again. Positions decreased significantly, main funds showed signs of withdrawal, and some short main forces increased their holdings at high prices again
fundamental analysis
plastics has become the core material component of most electronic and electrical products. In terms of spot goods, the PTA market quotation is deadlocked, and some offers go up to 7500 yuan/ton, but the mainstream negotiation is still maintained at 7300 ~ 7350 yuan/ton, and the buyer's counter-offer is still low; The outer disc traders are reluctant to sell at low prices. The buyers' counter-offer is that the classification and safety devices of the shared electronic tensile testing machine are reduced to $870/ton or less, and the mainstream negotiation is maintained at $875 ~ 880/ton. According to CCF, the domestic PTA comprehensive load has risen to around 82%
in terms of raw materials, affected by the situation in Nigeria, NYMEX crude oil futures soared by 2.6 in June overnight, causing problems of $9 to close at $59.03/barrel; Similarly, PX in Asia stopped falling overnight, rising slightly by $5 to $1106/ton (FOB Korea, l/c spot)
in terms of consumption, the polyester load is still maintained, but the production and sales of silk mills have fallen again, the center of gravity of silk prices has declined, the preferential range of factories has increased, and the downstream weaving mills have entered the traditional off-season, so their purchasing enthusiasm is not high, and most of them are consumption inventory; The total transaction volume of textile city is 6.02 million meters, and the market passenger flow and new orders are still small
technical analysis
indicators the day before yesterday, the golden fork arrived empty yesterday, but KD and MACD are still weak. If they can hold 6850 and break last Friday's high, they still have attack power
operation suggestions
bad market gathered, and PTA will be under pressure in the medium term; However, the differences between long and short markets have increased, and the volatility of the market will intensify in the short term. Empty orders can be arranged in a small amount at high prices
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