PTA serious excess capacity, when the high price of PTA, the industrial capital will enter the market hedging, so the price of PTA in the year of the bull market in commodities prices limited. Considering the industrial capital is concentrated, adequate supply of new funds into the only PTA trend stage effects, and will not change the overall operation mode of PTA.
Influx of new money to promote the sharp rise in the price of PTA, the short term will boost the industry chain downstream market psychology to a certain extent, but also can continue to need to see whether you can get a rise in the price of the industry chain cooperation.
PTA downstream polyester into the season needs better, PTA operating load of a lower overall supply and demand in a tight balance.
The current PVC futures have relative cash discount, and the 23 day after the limit of the basis is very rare, crude oil futures fell futures fell so does not support PVC.
At present, OTC funds involved in large amount, the fierce market game, the market outlook is still need to change close side injection. But the fundamental outlook continued to rise and the cost of terminal does not support the PTA price, PTA price will remain volatile in the processing of interval constraints, the market expected difficult market trend appears big.