Textile chemicals market early focus

Macro focus According to reports, the euro zone reached an agreement on Cyprus relief and Cyprus will receive 10 billion euros to help. In the rescue agreement, imf will expand the funds provided to Cyprus. Cyprus will also levy a tax of 6.75% on deposits of less than 100,000 euros and impose a 9.9% tax on deposits of more than 100,000 euros.

In March, the Thomson Reuters/University of Michigan Consumer Confidence Index had a preliminary value of 71.8, an expected 78.0, and a previous value of 77.6. The March reading was the lowest level since December 2011. The US cpi monthly rate is +0.7% in February, which is expected to be +0.5%. The previous value was flat. In February, the monthly rate of industrial output was +0.7%, with an expected +0.4%. The previous value was revised from -0.1% to a flat rate.

After accepting a reporter's question after the election, Premier Li Keqiang stated that sustainable development of the economy is the first policy goal, followed by efforts to increase the income of urban and rural residents, especially low-income earners, continue to expand the middle-income groups, and make a determined decision. Cut more than one-third of administrative approvals.

Cotton: The policy is expected to benefit the market. Zheng Cotton’s short-term bargain-hunting is mainly the overnight overnight cotton session. The closing price of the cotton futures closed at Shangying Yangxian. The main May contract rose 1.64 cents to 92.50 cents/lb. The rising pattern is expected to continue. Zheng cotton 1309 contract opened higher and closed lower on the upper shadow Yinxian Friday, closing at 20370 points, up 65 points from the previous trading day. The top 20 longs have reduced their positions by 542 lots to 47,355 contracts, short-term Masukura has 3,291 lots to 64,998 lots, and the overall strength of the empty side is still slightly superior. Volume rose slightly compared with the previous day, indicating that the upward momentum of the price is strong, the red bars of the macd indicator are extended, and the kd indicator is diverging downwards. The technical picture shows that the period price is strong but the pressure at the same time is higher. Information on cotton warehouse receipts: A total of 134 cotton warehouse receipts (of which Xinjiang cotton 39), reduced by 4 compared with the previous day. Effective forecast 30. Fundamental aspects: domestic cotton cc index 328 price index: 19,359 yuan / ton (+3), imported cotton fc index m price index: 98.92 cents / lb (+1.90), 1% tariff 15832 yuan / ton, slippery The tax is levied at 16,389 yuan per ton, and the price difference with domestic cotton is -2,970 yuan per ton.

The market is rumored that China will issue 700,000 tons of processing quotas and boost the ice cotton by importing cotton at a 3:1 ratio with reserve cotton, which is affected by the strong price of ice during the ice period. The price of imported cotton continues to increase, although the current inventory of Chinese ports is high. However, sales of high-grade cotton were relatively good and were subject to policy news that the implementation of the policy has not yet been implemented. The purchase of textile companies remains cautious. As the cash market circulation resources are relatively small, if the rumored promises will stimulate the purchasing enthusiasm of textile companies, the proportion of reserve cotton transactions is also expected to increase, coupled with the expected production cuts on the eve of planting, the short-term domestic cotton market is expected to continue the strong pattern.

In recent days, the number of reserved cotton deposits was 70,152.837 tons, the actual transaction volume was 1,884,590,405 tons, and the transaction ratio was 26.86%, which was an increase of 2.08% compared with the previous trading day; the average reserve transaction cotton grade on the day was 3.54, an increase of 0.05 from the previous trading day; the average length was 28.41. , an increase of 0.03 over the previous trading day; a weighted transaction price of 18,973 yuan per ton, up 28 yuan per ton from the previous day, or a discount of 328 to 19,203 yuan per ton (gonggong), down 7 yuan per ton, The price of cc index 328 is 156 yuan/ton lower. As of March 15th, the cumulative total listing volume was 2656765.1967 tons, and the cumulative turnover was 768620.8944 tons, with a turnover ratio of 28.93%. In 2012, the accumulative turnover of cotton was 6,345,440 tons, in Xinjiang, 2,539,440 tons, and 2,118,150 tons in the mainland. The total turnover of key enterprises was 1,722,950 tons. Operational recommendations: cf1309 short-term bargain-hunting to do more, the period price exceeded 20,000 yuan / ton more than a single leave.

Pta: prices rose to boost the industry, ta should not be too short-term overnight, wti crude oil to open lower and higher reports to close the Yang Xian, the main April contract rose 0.42 US dollars / barrel to 93.45 US dollars / barrel, technical graphics on the period strong. Brent crude opened lower and closed higher on the Yang Xian. The main contract in May rose 0.86 US dollars/barrel to 109.82 US dollars/barrel. The technical picture shows that there is a rebound in demand. The ta1309 contract opened lower and closed higher on the Shangyingyang Line on Friday, closing at 8,444 points, up 228 points from the previous trading day. The top 20 longs have lightened up 14766 lots to 121,383 lots, and the shorts have lightened 9405 lots to 128,993 lots. Overall, the strength of the empty side is slightly superior. Volume increased slightly compared with the previous day, indicating that the upward momentum of the price is strong, the green bar of the macd indicator is shortened, and the kd indicator is diverging upwards. The technical picture shows that the period price is strong. Spot: px external: $1542/tonne (-6), pta external: $1108/tonne (+8), pta internal: 8120 yuan/ton (+90), meg external: $1058/ton (+26) , meg inner plate: 7950 yuan / ton (+130), polyester chips: 9900 yuan / ton (0).

Industry News: Taiwan's South Asia stopped and repaired the 4#72-million-ton meg device near February 18, but the device may be re-arranged for about 40 days at the beginning of April; it is also learned that 1#36 million tons of meg equipment in South Asia will be installed in Taiwan. At the end of March, parking inspections are scheduled and are expected to last for 7-10 days.

Pta's internal and external disk market is relatively strong, but the atmosphere of trading has not risen sharply, mainly because the downstream polyester factories are cautious. In the downstream Polyester market, high-priced products still have repurchasing behavior, and the continuation of the concession has been promoted. However, due to rising prices, production and sales have increased, and the downstream replenishment sentiment has increased significantly. The atmosphere in the polyester and short markets was also significantly improved. The number of downstream inquiries increased. Manufacturers actively shipped and the production and sales levels improved. It is expected that the polyester and polyester staple markets will be stabilized by the stabilization of raw materials and the improvement of downstream replenishment sentiment. Operational recommendations: pta1309 empty single temporarily leave the wait and see, the operator within the day callback can be more than a single light tank to follow up.

Lldpe: Futures prices rose to cover the weakness of the spot market. The plastics trend did not change. Even the plastic 1309 contract opened lower and closed higher on Friday. The Yangying line closed at 10,565 points, up 265 points from the previous trading day. The top 20 lighten up 3358 lots to 78540 lots, short-term lighten up 5643 lots to 85126 lots, and the overall strength of the empty side is slightly superior. The trading volume rose slightly from the previous day, indicating that the momentum of price increase was strong, the macd indicator was shortened, and the kd indicator was stuck up in the oversold area. The technical picture showed that the period price was stronger.

Industry News: Sinopec Huazhong pe part of the high-voltage drop, high-pressure universal drop 200, Maoming 951-050 set 10800,2426k/2426h set 10650, Qilu tn26 set 10800, Yanshan 100ac set 10650, the rest transient stability; linear Fulian 7042 set 10650, Zhongyuan 7050 set 10650; low-voltage Maoming tr144 set 11300, Maoming 5502 set 11000.

Sinopec East China pe part of the high-pressure down, high-pressure Shanghai q281 set 10750, q210/n150 set 10600, transfer Maoming 2426h set 10600, were down 150, transfer Yanshan ic7a drop 100 set 12300, the rest held steady.

Sinopec South China pe high-pressure part of the pricing reduction, Maoming 2426k/2420h set 10800,2426h set 10850,868-000 set 11000,951-000 set 11000,951-050 set 11000,951-025 set 10850, reduce the 100,1810d drop 250 is set at 10800 and the rest is stable.

PetroChina Northwestern China pe Xinjiang region low-voltage settlement/downgrade listing price, high-pressure bluehuan 2426h knot 10900, drop 100 hung 10900; linear Dushanzi 7042 knot 10600, drop 150 hung 10750; low-voltage Dushanzi 8008 knot/hang 10500, Lanhua 5000s knot 11450, drop 50 to hang 11450.

The increase in futures prices has boosted the psychological state of the local PE market. In early morning, the inquiries in some areas have picked up. However, the continued downward adjustment of the two major petrochemical companies and the sluggish demand from the lower reaches dragged down the offer, and the home buyers of goods from various regions owed their emotions to the market outlook. Good, the overall offer is difficult to hide or fall, the business continues to take advantage of the goods, but the actual shipment is significantly blocked. Affected by the macro factors, the short-term price rebound momentum still exists, but the weak demand in the downstream market can hardly provide the driving force for the continuous upward movement of the price, and the upside is relatively limited. Operational recommendations: l1309 trend empty list continues to hold, short positions were backed by 10750 yuan / ton pressure short-term high short-term, the price break through the pressure of a single air exit.