The hottest sword refers to the close war of 7000p

2022-08-14
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Sword finger 7000 PTA futures close war is imminent

yesterday, the PTA futures 0905 contract of Zhengzhou Commodity Exchange continued to soar, closing at 6890 yuan/ton, up 228 yuan or 3.42% compared with the previous trading day. The highest intraday touch was 6906 yuan/ton, only one step away from the 7000 yuan integer mark. A total of 220000 contracts were traded throughout the day, with positions reduced by more than 1000, or 73400

in view of the current aggressive trend of pta905 futures contract, the futures industry generally expects a close air war. The price of pta905 has risen by 23% since the position of 5600 yuan/ton in early March. Its unique strong trend is obviously superior to that of other futures varieties, which can meet the measurement needs of different materials and different fields. Attention should be paid to joint oil leakage and cylinder plug oil leakage

pta futures has such an upswing background. What is the requirement of high engine revolution that valve springs have better fatigue performance and anti relaxation performance under higher working stress? The author analyzes the following reasons:

first, international crude oil is generally bullish, and inflation expectations are rising, which is the main driving force for the rise in raw material prices. Many foreign financial institutions see the high oil price of $60 to $80/barrel, and the prices of all petrochemical products have received cost support

secondly, the price of PTA raw materials rose, and the price transfer ability of PTA downstream products increased, providing a good space for PTA price rise. The author learned that yesterday, the price of PX in Asia increased by $26/ton, or $986/ton, approaching the position of $1000/ton. When PTA prices rose by 1200 yuan/ton, polyester prices also rose by yuan/ton. In other words, from the perspective of the industrial chain, the upstream and downstream unobstructed makes PTA prices gain upward space

thirdly, from the perspective of PTA future cash basis allocation, there is no arbitrage space between futures and spot, which makes futures and spot gain good interaction. Futures guide spot, and the performance of spot price accelerates the rise of PTA futures. Yesterday, the PTA outer market price rose by $30/ton to $850/ton, and the PTA futures index rose by 228 yuan/ton, in line with the spot increase

finally, among the ten national industrial revitalization plans, there are three industries, namely, petrochemical, textile and clothing and light industry, which have benefited PTA. Even though the export of petrochemical, textile and clothing has continued to decline this year, investors who invest in the international market still believe that China's strong domestic demand market can help China's economy out of trouble

the above fundamental analysis shows that the fundamentals faced by PTA index are more than empty. As for the existence of air pressure, it is not impossible. On the one hand, excess liquidity makes speculation possible to be excessive (the author believes that the shortage of commodities does not mean that prices can rise indefinitely), so bulls often obtain huge profits through excessive speculation; On the other hand, speculators are speculating about the intention of the policy. After all, the PPI index has fallen for months, and the macroeconomic needs the typical strong rise in prices to boost market confidence

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