LUZHENG Futures: driven by peripheral commodities, PTA continued to rebound sharply.
I. market description
on August 13 (Wednesday), driven by peripheral commodities, the prices of PTA contracts generally rose, of which the main contract 809 opened at the lowest price of 8990 yuan/ton throughout the day, and then soared sharply. After a slight fall in the market, it moved forward in a narrow range of shocks. Driven by the purchase of replenishment and closing positions, there was another wave of uplift at the end of the market, with a maximum of 9138 yuan/ton and a minimum of 8990 yuan/ton, It closed at 9122 yuan/ton, up 182 yuan/ton from the previous trading day. The trading volume shrank significantly to 47520 hands, and the position decreased by 3786 hands to 127014 hands
forward contract 811 was actively traded, with a significant increase in positions. Driven by buying, the futures price rose 110 yuan/ton to close at 8350 yuan/ton
II. Analysis of market causes
due to the unexpected decline in U.S. gasoline inventory, the U.S. overnight crude oil closed up $2.99 to $116/barrel. The EIA said that although the decline in inventory boosted the futures prices of crude oil and refined oil, it hardly eased the concern of the continued downturn in U.S. demand
Asian naphtha prices closed at $981.88/t on the 13th, falling below $1000/T for the first time this year. PX was negatively affected. The spot valuation of important documents such as Asian PX and commissioning parameters was $1385/T, down $10/T from the 12th
pta spot medium fiber price index shows 8650 yuan/1 some companies such as CRP technology and dsmsomos are looking for business opportunities by developing special materials for automobile and dental use, up 50 yuan/ton from yesterday. In the downstream market, the short-term market of Jiangsu and Zhejiang polyester continues to decline, and the ex factory transaction price of the market is yuan/ton (cash), the atmosphere is light, and bearish sentiment accounts for most
on the whole, the PTA spot market has not improved. 8) products are cheap and the sources are rich and stable. Investors still need to maintain the short thinking
III. after the introduction of the post experiment, users can analyze the experimental structure and judge the market.
technically, the 809 contract is under pressure from the ten day moving average and the 0.618 resistance level, so you should be careful with most orders
as the 809 contract is approaching delivery and faces the risk of increasing margin, retail investors are advised to transfer their funds to the forward 811 contract and maintain the medium-term short thinking. However, due to technical requirements, the possibility of further rebound in the 811 contract is not ruled out, and investors are advised to focus on intraday trading
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