PTA terminal falls negative ease fills 2.25 million tons of

  • Dec, 04th 2018

PTA period price continues to follow crude oil callback last week. 1-5 price difference reachs 220 yuan / ton fluctuation is fluctuant. Ease is filled announce 2 to near future of 2.25 million tons of plant will have its Dalian month of technical reformation. Demand side, polyester factory gets expensive stock pressure, local begin to fall negative; Loom of river short for Zhejiang Province and add because of,play new order not beautiful and inventory devalue pressure, fall quickly negative, stop to purchase polyester fibber. PTA week spends social inventory to continue to drop.

Treatment differs a respect, PX treatment difference is maintained in 600 dollars / ton above is exalted, difference of treatment of PTA merchandise on hand reachs 600 yuan / ton up and down, 01 still be less than 300 yuan with difference of treatment of 05 dishes of faces / ton.

City is looked into after reach politic proposal

The operation suggests to go up, pressure of polyester link inventory is increased, still need time to dissolve, terminal order for goods still does not have improvement, inside year or have marked improvement hard, callback of together with crude oil drives PX callback, PTA lacks power up, do do not have safe limit more, proposal wait-and-see or meet tall buy is empty. 1-5 is followed base poor look forward to is firm and narrow cut is fluctuant, after Cheng Xuan cloth overhauls ease, tired inventory anticipates PTA inside year weaken, 1-5 of short duration wait-and-see or meet tall buy is empty. Offer reference only.

1.PTA merchandise on hand reachs bear

PTA price continues to follow crude oil callback last week, polyester produce and sale as before depressed, PX synchronism follows crude oil callback, because this PTA machines cost,maintain be in 600 yuan / ton up and down. Look forward to of Zhou Neiji poor quote is firm, premium 01 agreement 220 yuan / ton up and down, clinch a deal still low fan, polyester factory shares range to PTA merchandise on hand not quite, week of individual plant second half just needed filling money passable, a few mainstream supplier is daily purchasing.

Plant field, week Zhong Yicheng announces Dalian its 2.25 million tons of device has two months ability to change a plan, PTA future supplies pressure to be reduced significantly.

Graph 1: Base difference goes firm

Data origin: Wind, start department of card futures research and development

Graph 2: PX treatment difference is held firm, difference of treatment of PTA merchandise on hand is low go firm

Data origin: Wind, start department of card futures research and development

Graph 3: Dish face treatment differs on the low side

Data origin: Wind, start department of card futures research and development

Graph 4: The storehouse decreases sheet is little

Data origin: Wind, start department of card futures research and development

Graph 5: PTA negative charge is small pick up, polyester negative charge is small go weak

Data origin: CCF, start department of card futures research and development

Graph 6: PTA inventory continues to drop last week

Data origin: Eminent achieves information, start department of card futures research and development

Express 1: Overhaul plan

Data origin: CCF, start department of card futures research and development

2. polyester merchandise on hand reachs bear

2.1 section

Polyester section price drops continuously, cost end issues defeat once more, polyester market is handed in cast continuously delicate, cleanse silk produce and sale still low fan, section factory price is reduced continuously, especially trafficker casts goods low frequency to go out, the section inside week drops in 400-500 yuan / ton, to Zhou Wu, index of half light, glazed section comes respectively 8350, 8375 yuan / ton, comparatively last week 5 drop 475, 450 yuan / ton.

Section cash flows benefit to maintain good, raw material cost drops continuously, buy now according to raw material do now calculate, cash of half smooth section flows polyester to be gain on average 220 yuan / ton, treatment poor comparatively compresses 30 yuan last week / ton, glazed section is average gain 250 yuan / ton, relatively enlarge 20 yuan last week / ton.

2.2 filament

Silk of cleanse of market of river short for Zhejiang Province lasts callback. Approach library capacity with each passing day in inventory pressure, and just needed to still be in downstream in dropping, integral core drops differ in 500-800, local breed is in 1000 yuan of above. Price of Hua Nadi silk follows callback, mainstream big plant falls in 200-1000 yuan / ton differ.

Export market respect, export price follows sale in domestic market continues fall after a rise, foreign client leaves discretion of state of mind in visit affection wait-and-see, but it is certain to have just needed filling money demand, depend on filament price when look forward to is firm, sheet of ask of client of abroad of near future part increases somewhat.

2.3 bottles piece

Polyester bottle piece cost continues fall after a rise, bottle piece the price follows drop, apiration of downstream factory filling goods slants weak, clinch a deal quantity considerably fall after a rise. The mainstream discusses interval from last weekend 9100-9300 yuan / ton leave factory drop stage by stage to 8500-8800 yuan / ton around.

Export side, asian polyester bottle piece market mill price continues fall after a rise, downstream client gives many dishes of on the low side. Hua Dong factory discussed interval to come in November 1130-1170 dollar / ton near FOB Shanghai harbor, be issued to lower levels of price of order of month of 11-12 of Hua Na factory comes 1140-1160 dollar / ton FOB advocate near harbor.

2.4 short fine

Wash short price continues to adjust, drop in 300-500 yuan / ton interval, sell as before fatigued and weak, stock of factory finished product rises to 10-15 day interval, enter normal level.

Benefit respect, maintain be in 500 yuan / ton around concussion.

Graph 7: Each product treatment differs polyester low

Data origin: Wind, start department of card futures research and development

Graph 8: Cleanse weak point, bottle piece treatment difference goes low

Data origin: Wind, start department of card futures research and development

Graph 9: Filament bear drops, short fine bear picks up, bottle piece bear drops

Data origin: CCF, start department of card futures research and development

Graph 10: Polyester fibber (on) reach cleanse weak point (below) in November month all produce and sale is small fan

Data origin: CCF, eminent achieves information, start department of card futures research and development

Graph 11: Polyester each product inventory continues to rise

Data origin: CCF, start department of card futures research and development

3. terminal bear reachs stock up

Start working of terminal of river short for Zhejiang Province drops quickly, jiang Zhe adds flick plane load to be in 60% , loom bear is in 60% . Hua Na switchs on the mobile phone downstream bear is stable, loom bear is in 43% .

Jiang Zhe is added play and knit mechanic factory, be in the ending condition of early days order, new sheet is insufficient. And price of the silk that follow cleanse lasts callback, consideration inventory devalues quickly influence, jockey quickly. Fujian area average start working stabilizes each type to be become in 4-5 around, guangdong area average start working stabilizes each type to be become in 3-4 around, but sell as before difficult, stock rises.

Respect of raw material stock up, consideration inventory devalues, terminal plant is not willing to keep inventory production, just needed to purchase more, day of 0-3 of existence of library of current and downstream raw material.

Graph 12: Loom of river short for Zhejiang Province and add play bear to go weak significantly

Data origin: CCF, start department of card futures research and development

Graph 13: Spin a city gently to clinch a deal quantity compared to the same period passable

Data origin: CCF, start department of card futures research and development

Graph 14: Grey inventory continues to rise

Data origin: Wind, start department of card futures research and development

4. operates a proposal

PTA period price continues to follow crude oil callback last week. 1-5 price difference reachs 220 yuan / ton fluctuation is fluctuant. Ease is filled announce 2 to near future of 2.25 million tons of plant will have its Dalian month of technical reformation. Demand side, polyester factory gets expensive stock pressure, local begin to fall negative, purchase TA to slant little; Loom of river short for Zhejiang Province and add because of,play new order not beautiful and inventory devalue pressure, fall quickly negative, stop to purchase polyester fibber. PTA week spends social inventory to continue to drop.

Treatment differs a respect, PX treatment difference is maintained in 600 dollars / ton above is exalted, difference of treatment of PTA merchandise on hand reachs 600 yuan / ton up and down, 01 still be less than 300 yuan with difference of treatment of 05 dishes of faces / ton.

The operation suggests to go up, pressure of polyester link inventory is increased, still need time to dissolve, terminal order for goods still does not have improvement, inside year or have marked improvement hard, callback of together with crude oil drives PX callback, PTA lacks power up, do do not have safe limit more, proposal wait-and-see or meet tall buy is empty. 1-5 is followed base poor look forward to is firm and narrow cut is fluctuant, after Cheng Xuan cloth overhauls ease, tired inventory anticipates PTA inside year weaken, 1-5 of short duration wait-and-see or meet tall buy is empty. Offer reference only.

Graph 15: PTA/ beautiful crude oil, naphtha - crude oil, PX- naphtha, PTA-PX

Data origin: Wind, start department of card futures research and development

Graph 16: PTA/ beautiful crude oil, naphtha - crude oil, PX- naphtha, PTA-PX

Data origin: Wind, start department of card futures research and development

Express 2: PTA1901 maintains a warehouse completely

Data origin: Wind, start department of card futures research and development

Express 3: PTA1905 maintains a warehouse completely

Data origin: Wind, start department of card futures research and development