The hottest crude oil strongly boosted PTA or fluc

2022-07-31
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Crude oil strongly boosted PTA or fluctuated upward

Zhengzhou PTA futures closed sharply on the 3rd, and the main contract 1209 closed at 7590 yuan/ton, up 152 yuan/ton. Recently, there have been many good news in the peripheral markets, but the strong rise on Friday has partially digested the good news in the early stage. On Monday, it was more affected by the soaring crude oil. At present, although there are a lot of good news in the periphery, especially in the EU, it is difficult to say when the global economy will get out of trouble. In this case, the oil price is more of a short-term oversold rebound. However, the downstream to terminal demand of PTA has not improved. It is expected that Zheng PTA will go up in the short term

the price of crude oil futures on the New York Mercantile Exchange (NYMEX) closed higher on Tuesday, the highest closing price since the end of May, mainly due to the market's concern about the prospect of crude oil supply caused by the Iranian issue and the expectation that major central banks around the world will take further stimulus measures to promote global economic growth. The price of light crude oil futures for delivery in August rose sharply by $3.91 to close at $87.66 per barrel, or 4.7%. It gained momentum near the closing, hitting the highest closing price since May 30. It hit a peak of $88.04 per barrel in the middle of the day without black smoke

in the domestic market, at present, the strength of the raw material market has a strong supporting effect on PTA. However, the production and sales of polyester fiber in the downstream have fallen again, indicating that the market mentality is still weak. After the centralized preparation in the early stage, the downstream has already had a certain amount of raw material inventory. Therefore, the operation has begun to be cautious, which may cause the PTA market to fall into a short wandering period again. However, due to the current polyester inventory pressure has slowed down significantly, the market mentality has been better than that in the early stage

as for upstream raw materials, the quoted price in the US PX market was slightly reduced by 15 US dollars/ton to US dollars/ton FOB US Gulf. The US PX market was light. In fact, special thermoplastic also proved its limited trading advantage in metal replacement and utilization with its own good characteristics. The PX market price in Asia fell slightly by $15/ton to 1238 US $5/ton CFR Taiwan, China/Chinese Mainland, and 1217 5 USD/ton FOB Korea

in the spot market, PTA North China raw material industry department has been rising firmly around the market situation of the central workplace of the Party group of the Ministry. The market offer price is about yuan/ton, the offer price of downstream manufacturers is about 7350 yuan/ton, and the actual negotiated price is about yuan/ton. PTA's domestic trade market in East China rose. The offer price of the cargo holder was about 7400 yuan/ton, the downstream offer price was about 7300 yuan/ton, and the actual negotiated price was about 7350 yuan/ton

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