PTA is the abbreviation of purified terephthalic acid, and it is one of the important bulk organic raw materials. Its main use is to produce polyester fiber (polyester), polyester bottle chips and polyester films, which are widely used in chemical fiber, light industry, electronics, construction and other fields.
* PTA is the final product of petroleum, and its raw material is paraxylene (PX for short), while PX is petroleum. PTA is the front-end product of chemical fiber, and the downstream products are mainly polyester filaments, staple fibers and chips (including fiber chips, bottle chips and film chips).
-PTA spot comparison PTA futures characteristics
PTA spot characteristics
* Single use, high degree of standardization, concentrated spot trade, double influence of upstream and downstream of the industrial chain, and large price fluctuation.
* There are no national standards and industry standards, and the manufacturers are all big factories, and the quality of imported equipment products is consistent.
* Strong demand, increased production capacity, reduced dependence on foreign countries, concentrated production areas and extensive consumption.
* Easier to transport, but still a product.
PTA futures characteristics
* The deposit of 5 tons per lot is low, the lowest fluctuation price is 2, the handling fee is low, and the intraday fluctuation is frequent.
* 12 month contract, suitable for hedging.
* general warehouse receipt, no time to discount, close to the spot, forced warehouse is risky.
PTA futures delivery system
:: Implement a rolling delivery system. From the first trading day of the delivery month to the last trading day of the delivery month, both buyers and sellers can apply for delivery before 2: 30 pm of each trading day; After the closing of the market on the last trading day, centralized matching shall be conducted in accordance with the provisions of the exchange, and delivery shall be completed in accordance with the prescribed procedures.
* The last trading day is the 10 trading day of the contract delivery month, and the 10 trading day is the delivery date.
* Three-day delivery method is adopted, the first day is the matching day, the second day is the notification day, and the third day is the delivery day.