Panel situation: Zhengzhou PTA The 1901 contract opened at 6712 yuan/ton and closed at 6570 yuan/ton, down 188 yuan/ton or 2.78% from the previous trading day. The trading volume increased to 1.3311 million hands and the position increased by 77700 hands to 1.0606 million hands.
News: 1. On November 6, the closing price of the Asian PX market was US $1165.67/t FOB South Korea and US $1185.67/t CFR China, unchanged from the previous trading day. 2. The market quotation of polyester chips in Jiangsu and Zhejiang regions has been lowered, the cost end support is weak, the polyester manufacturers have accumulated inventory, and the downstream chip spinning and purchasing intention is weak. In Jiangsu and Zhejiang, the mainstream of semi optical slice negotiation is around 8600-8800 yuan/ton, and the reference of optical slice negotiation is 8600-8800 yuan/ton; High and low end transactions have been heard.
Spot price: East China PTA spot and 1901 contract basis offer premium of 260-280 yuan/ton, bid and 1901 contract basis offer premium of 230-250 yuan/ton, and negotiated price of 6700-6900 yuan/ton. We heard that 6740 yuan/ton, 6756 yuan/ton, 6760 yuan/ton, 6780 yuan/ton, 6782 yuan/ton, 6820 yuan/ton, 6850 yuan/ton were self withdrawn within the day. The PTA market price in the US gold market was stable. The PTA US dollar shipping offer was $1000-1020/ton, and the PTA one-day tour supplier's offer was reduced by $20/ton to $970-980/ton. No deal was heard.
Summary of views: The inventory of imported Iranian crude oil and API crude oil in some areas exempted by the United States has increased significantly, and the international oil price has fluctuated and declined. The price of PX in Asia was reported to US $1165.67-1185.67/ton, and the PTA tax payment cost converted from processing fee of 500 yuan was about 6790-6900 yuan/ton. Domestic PTA spot price fell slightly, and downstream polyester quotation continued to fall; From the cost side, international crude oil continued to decline, which depressed the atmosphere of PTA market; In terms of devices, PTA has been intensively re produced recently, and the manufacturer's load rate has risen to 81.32%; Last week, the inventory of downstream polyester manufacturers continued to increase, and manufacturers were cautious in taking goods to avoid increasing their own inventory. The short-term PTA price showed a volatile trend. Technically, the PTA1901 contract increased its position and fell, and the futures price fell further after falling below the 6600 threshold. The 6400 front-line support was tested below, and the short-term PTA tended to be weak. In terms of operation, short line 6400-6750 section operation.
Ruida Futures Research Institute: Chemical Group
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Editor in charge: Zhang Yao
