Since late July, PTA futures prices have accelerated. This week, the 1809 contract has once again refreshed by nearly 4 years, a new high of 6,454 yuan / ton.
Cinda Futures Researcher Xu Lin said that upstream crude oil has stabilized recently after experiencing a sharp fall at the beginning of the month. In the medium and long term, the supply and demand pattern is still tight, so oil prices are still likely to rise. Downstream, polyester start-up load is restored. High position, strong support for PTA.
Looking forward to the market outlook, Xu Lin believes that the current PTA1809 contract basis is about 94 yuan, and the futures are still in a discounted state. The September contract is facing a delivery period. Under the support of low inventory, the future PTA market will have a higher probability of exceeding the spot gain by futures. return.