(1) Tuesday, PTA rally dominated. Due to the high price of acetic acid, PTA processing fee is low, we heard that there is a delay in the news of the new PTA plant opening, the main supplier to reduce the supply of market contract goods for May, PTA basis difference strengthened significantly. Overall, PTA supply situation contraction beyond market expectations.
2) Two factors currently affect the PTA processing fee. One is PX, the second is acetic acid. At present, acetic acid price increase contradiction is greater, PTA loss pattern does not change.
(3) strategy, TA2109 contract reference 05 contract 4500 yuan support level, 4900 yuan pressure level, strong shocks.