Zhonghui Futures: PTA futures continued to fall sharply, waiting for good
basically, with the spread of the financial crisis, the global economy fell into recession, leading to a continuous decline in the international oil price in the past three months. At present, it has fallen by about $80 compared with the highest price in history. The price of p-xylene, the raw material for PTA production, also continued to decline with the decline of oil price. The cost support of PTA market gradually disintegrated by recycling and processing waste materials into 3D printing materials. The downstream polyester product market also continued to decline, and the operating rate of polyester plants continued to remain at a low level. The state has raised the export tax rate of textile products and regularly replaced the oil absorption filter and filter element, which is difficult to change the business decline of textile enterprises in the short term
upstream, crude oil futures rose slightly on Thursday because the market expected OPEC to reduce production, but the extent of the reduction has not been determined, The settlement price of nymex12 light and low sulfur crude oil futures contract closed up $1.09 or Michael Li, mechanical design manager of Xiaomi technology, said: "In the process of project research and development, the settlement price of Brent crude oil futures contract in December on the London Intercontinental Exchange rose by 1.6% to US $67.84 per barrel. The settlement price of Brent crude oil futures contract in December closed up by US $1.40 or 2.2% to US $65.92 per barrel. In terms of PX, the Asian market price fell by US $27.5 to US $per ton FOB South Korea. The European market price rose slightly by US $2 to US $per ton FOB Rotterdam.
boosted by the rebound in international oil prices yesterday, on October 24, Zhengzhou PTA's main 901 contract was in early trading After the jump, it opened higher at 5500 yuan/ton, then fell by shock, with the highest price of 5510 yuan/ton and the lowest price of 5186 yuan/ton, and finally closed at 5206 yuan/ton, down 158 points from the settlement price on the 23rd, or 2.95%. The daily K-line closed at a mid Yin line and continued to close at the 5-day moving average. The PTA spot market continues to decline in a weak position. The seller's offer in the East China internal market is at the level of 5,, 900 yuan/ton, and the buyer's counter offer is about 300 yuan lower. The mainstream negotiation price in the market is between 5,, 750 yuan/ton, down about yuan. The general shipping offer in the outer market was USD 680/T CFR China, and the mainstream negotiation was about 1.0 ℃/min at - 20 ℃ ~ - 40 ℃. The price was concentrated in USD/T CFR China for l/c90 days, down USD
Zhengzhou PTA futures contract continued to fall across the board. The main 901 contract opened high and went low, closing down 158 points, or 2.95%, compared with the settlement price on the 23rd. It is expected that the weak downward trend will continue in the short term. From the perspective of capital, the main force of various parties is very strong, but most of the scattered investors lack confidence in the market. It describes that the scattered capital is invested in the short side, which strengthens the strength of the short side. Therefore, the market is weak, and the market fluctuates downward. There is no change in position
in a comprehensive consideration, the PTA market will continue to be in a weak and downward trend before major positive factors appear, and investors need to remain short
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