PTA Bulls Head High And Run Away.

"P," "celebrate after closing." a PTA futures bull issued a message on its micro-blog only half an hour after opening on Monday, showing that he was optimistic about the strong PTA on that day.

At that time, TA1409 contracts and TA1501 contracts were both higher and higher, but the TA1409 contract appeared to be significantly reduced.

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< p > < < a href= http:// / www.sjfzxm.com/news/index_c.asp > > opening > /a > > 1409 contracts hold more than 240 thousand hands, warehouse receipt plus effective forecast volume is only 2000, the ratio of virtual and real disk is more than 60:1, yesterday was the first time for 1409 contracts to raise the margin before the month of delivery, and a part of the empty stock was forced to leave the field in.

Galaxy futures analyst Chen Xiaoyan pointed out.

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< p > according to the current proportion of virtual and real market, the market is undoubtedly more conducive to long.

In August 20th, Zheng merchants will raise the futures margin of 1409 contracts for the second time, and raise the guarantee margin by 5 percentage points. At the same time, some short sellers will be forced to leave, and the bulls will take advantage of the two time to reduce their positions.

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< p > Chen Xiaoyan said that in the middle of a month before the month of delivery, in accordance with the provisions of the stock exchange limit, the maximum unilateral holding position of the customer was not more than 8000 hands, not more than 3000 hands at the end of the month, and no more than 1000 hands on the delivery month, but the hedging customers could submit the application for the insurance on delivery date on the two month and 1-20 days before the delivery month.

At present, there is a large amount of uninsured use of the total amount of long and short applications, and the number of applications for multiple guarantees is larger than that of short sellers.

The limited production and the guarantee system make the situation of speculation short and passive.

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< p > "at present, due to < a href=" http:// "www.sjfzxm.com/news/index_c.asp" > warehouse receipt < /a > less, futures maintain a discount structure on spot, resulting in spot resources difficult to flow into a href= "http:// www.sjfzxm.com/news/index_c.asp" > futures < /a >, the 1409 contract continues to rise more likely, far months are more driven by recent months.

1409 of the increase in the contract is mainly to see the short cut speed, if the spot market is up, futures continue to maintain the structure of the discount, expected to be around 7800 yuan.

Considering that the PTA warehouse receipts will be forced to write off in September, it will be difficult to turn around after long take over, and the willingness to deliver more goods will not be strong. It is suggested that we should pay attention to the quotations before August 25th.

Chen Xiaoyan said.

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