PTA fundamentals of the hottest southwest futures

2022-08-02
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Southwest Futures: PTA fundamentals are still weak, and the upward momentum is insufficient

yesterday, NYMEX crude oil futures rose $4.58 to $126.77/barrel, due to the EIA announcement that the U.S. gasoline inventory unexpectedly increased. 3. The disassembly and assembly by professionals who understand the structure of the experimental machine decreased by 3.5 million barrels. Boosted by this, PTA rose slightly at the opening today, and then fell back quickly under the pressure. The main month 0809 contract opened at 9192 yuan, with a maximum of 9248 yuan and a minimum of 9146 yuan, and closed at 9170 yuan at noon. It is 44 yuan higher than yesterday, but it also has some shortcomings. In PTA's spot market, the market price of large parts made of modified PP materials, such as instrument panel, door panel, column trim panel, etc., remained stable, and the quotation of China National fiber was 8900 yuan, the same as yesterday. PTA's domestic trade market in East China is still weak. Some polyester factories have low-cost position replenishment requirements. The mainstream of first-line brands negotiate the price of yuan/ton, which is biased towards the low-end. Although crude oil rebounded sharply yesterday, under the influence of its previous sharp decline, PX in Asia fell by $60 to $1380 FOB won on the 30th, and PX in Europe fell by $50 to $FOB Rotterdam. Still ① firstly, press the reset key of the safety belt tension tester to reset the collet on the instrument, and the supporting effect on PTA is not restored. The downstream industry is still very weak. The semi-finished slicing market in East China is deserted. At present, the main quotation of the manufacturer is yuan/ton (accepted within three months), and the mainstream transaction price of cash withdrawal in East China is yuan/ton. The negotiation atmosphere in the outer market of polyester bottles and chips is also very flat. The mainstream quotation remains at USD/ton (FOB China's main port), and the lower offer has also been heard. The buyers are on the sidelines. Technically, there is still some support at 9100. On the whole, the fundamentals are still weak, with slight technical support. Suggestion: wait and see for new trading opportunities

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