PX Continues To Reduce PTA Concussion

News: 1, 30, Asian PX offer fell 28 US dollars to 777 U.S. dollars / ton FOB South Korea 799 US dollars / ton CFR Taiwan / China.

2, Ningbo's 1 million 200 thousand tons PTA platform is scheduled to stop in April 7th, and the parking time will last for about 25 days.

3, Ningbo MITSUBISHI March settlement price of 4825 yuan / ton, at present

Normal operation, multi contract source, stable production and marketing.

PTA: the East China market offer is near 4450 yuan, the delivery is maintained at 4400-4420 yuan, and the negotiation is 4400-4430 yuan.

The US dollar disk is bonded near $630, about $600, about a stalemate, around $620-630.

Inventory data:

The warehouse receipt was 90109, an increase of 5122 pieces compared with the previous trading day, with an effective forecast of 58399.

Conclusion: the market is concerned about the nuclear agreement between Iran and the west, the international crude oil price has fallen, and Asian PX prices have continued to decline.

Domestic PTA operating rate dropped to around 65%.

The PTA warehouse receipts of Zhengshang company continued to increase, which was a suppression of the price.

PTA spot prices are weak, and the atmosphere is general.

Polyester market is stable, the market as a whole wait-and-see, purchasing enthusiasm is slowing down.

Technically, the PTA1509 contract fell, the price test tested the 4600 line support, and the short term showed the trend of disadvantaged consolidation.

Short term trading is the main operation.

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Recently, temperatures in Shandong, Hebei and Henan have risen and everything is reviving.

A cotton grower in Shangqiu, Henan said that the big guys began buying cotton seeds, fertilizers, pesticides and so on.

At present, the price of local cotton seeds is slightly lower than that of last year. The seed cost is generally 35-40 yuan / mu, which is 4-5 yuan / mu less than last year.

The plastic film and pesticide increased slightly compared with last year. The two samples should be added to 230-240 yuan per mu.

"It is estimated that the overall cost of seed cotton this year is slightly higher than that of last year."

The cotton grower said that in addition, the cotton planting in Henan province was relatively early in the whole the Yellow River basin, and it is expected to start in early April.

From the perspective of cotton growers today, the area of key cotton areas in Shangqiu, Zhengzhou and Xinxiang has been reduced by about 40%.

Shandong Dezhou cotton grower Lao Zhao said that the estimated cotton planting area this year or around 1 million 500 thousand acres, compared with 2 million 700 thousand acres in 2014 decreased by 44%.

Lao Zhao said, at present, we hope that the direct subsidy will be put in place as soon as possible. If the direct subsidy is issued before the spring sowing, some cotton farmers and big households may choose to grow cotton.

The spring sowing time in Hebei and Tianjin is usually in late 4 to early May. Therefore, only a few cotton farmers are ready to prepare cotton seeds and buy agricultural products. In general, the enthusiasm for planting cotton is still not high.

"The market downturn is still the main reason why cotton growers fail to get up."

A market source said that in March 29th, the mainstream sales price of Hebei's 3128 class real estate cotton was 12900-13100 yuan / ton, and 4128 grade 12500 yuan / ton.

Because of the strong mentality of many investors, many ginning plants promise in the actual sales process: as long as they are going to the factory to pick up the goods and settle accounts in cash, the enterprise can make a profit of 150-200 yuan / ton.

More enterprises will directly expand the profit margin to 300 yuan / ton.

Shandong, Dezhou, Binzhou and Tianjin are already a voice of "Hawking" and "cutting meat". The spot of real estate cotton has gone to the awkward situation of "no one in the busy market."

In fact, the real estate cotton spot "Waterloo", the main culprits are Xinjiang cotton and outer cotton.

Mr. Liu, a cotton trader, said that in March, there were 40-50 tons of Xinjiang fine wool cotton entering the the Yellow River River Basin market. Both hand picked cotton, organic cotton and some long staple cotton.

This resulted in a major reversal of the supply and demand relationship in the the Yellow River River Basin, and the price of Xinjiang cotton has generally fallen by 300-400 yuan / ton due to the sharp drop in freight costs.

On the 30 day, Mr. Liu reduced his grade 3128 Xinjiang hand picked cotton to 13400-13500 yuan / ton, the machine picked cotton dropped to 13000 yuan / ton, and the 2129 grade Xinjiang hand picked cotton also dropped to 14000 yuan / ton.

On the two day (28-29 th) of the weekend, the number of cotton growing outside Qingdao logistics area increased significantly, mainly in India cotton and Brazil cotton, and the number of cotton in the United States increased, but the quality was generally.

Some traders go to inventory pressure, a cry of "Hawking".

On the 29 day, the port S-6 India cotton sale price was 13500-13600 yuan / ton, while the inferior quality Chen cotton was 13000 yuan / ton; the US cotton SM class price was 15300-15400 yuan / ton.

According to traders, there is still a possibility of falling cotton prices in the near future.