Energy and Chemical Strategy Weekly (PTA): Follow the performance of polyester, PTA continue rangebound

Updated: April 11, 2016  Views: 12

Stage, the possibility of a deeper correction PTA little, short-term downtrend is influenced by crude oil upstream, although the recent oil price volatility, PX prices lower, but the PTA processing profits were improved, making the PTA prices can withstand a certain degree of decline. downstream, the present polyester product stock rebounded slightly, the wishes of the downstream procurement of raw materials declined, but polyester started Write sharp contraction installations, PX, PTA plant maintenance still increasing, fundamentals Write reverse phased improvement is expected for the PTA is still some support forces from the capital side to see, PTA futures warehouse at a high level, the September contract net short continued to rise, increasing the pressure PTA trend. we believe that, long and short PTA under the influence of factors, short-term will continue range-bound trend. bearish market power downstream before temporarily expand overly pessimistic, while the real effective PTA overcapacity degree has been greatly reduced, post-PTA load is expected to decline still helps enterprises to maintain existing processing profits, so PTA have a certain resilience.


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Traditional Chinese: 能源化工策略周報(PTA):關註聚酯表現,PTA延續區間震蕩

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