Hottest southwest futures PTA midday review 080904

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Southwest Futures: PTA midday review (080904)

demand is difficult to improve, PTA (4, -20.00, -0.25%, under the influence of 811 strong policy) continues to decline

PTA: yesterday, NYMEX crude oil fell for the fourth consecutive trading day, falling to $107.22/barrel in the morning due to the rise of the US dollar and continued concerns about weak demand, and the decline was reduced in the late afternoon due to the market expectation of a week of gasoline inventory decline, and finally closed slightly at $0.36. Today, PTA continued yesterday's decline, and the main month 0811 contract continued to fall at the opening. Then when there was a failure, it maintained a weak shock consolidation, opening at 8112 yuan, the highest at 8112 yuan, the lowest at 8064 yuan, and closing at 8088 yuan at noon, down 46 yuan from yesterday. PTA spot prices continued to fall. Today, China National fiber offered 8100 yuan, 50 yuan lower than yesterday. In terms of upstream Px, it continued to follow the decline of crude oil, with Asian PX down $15 and European PX down $10 from yesterday. In the downstream market, although the market quotation is relatively stable, some varieties take preferential price concessions to ship, most of them still hold a wait-and-see attitude, and their enthusiasm for procurement decreases. On the premise that the demand is difficult to improve in the short term, it is expected that the future market will still be dominated by the mixing and integration of these two alloys in any proportion. This is the rule of the market. Technically, PTA still has room to continue to explore, which will test the support of 8000. Suggestion: wait and see for the signal of transaction

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