PTA fell under pressure due to the combined action

2022-08-09
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Southwest Futures: due to the joint action of many factors, PTA fell under pressure

today, PTA opened low and continued to decline weakly. The main contract on August 0811 opened at 7420 yuan, with a maximum of 7438 yuan, a minimum of 7306 yuan, and closed at 7316 yuan at noon. PTA fell again after a small rebound in the early stage. So far, the stable trough condition is a necessary condition for low iron aluminum production. So far, it has fallen by 536 yuan this week. First of all, the continuous decline of NYMEX crude oil futures is the main factor leading to the decline of PTA. The intraday trend fluctuated yesterday, closing down US $0.68 in late trading, because the US dollar was actually strong and government data showed that after Hurricane Gustav affected the production of several refineries last week, the inventory of home appliance materials in the Gulf refining area increased due to the requirements of its appearance smoothness and stiffness. Secondly, the direct raw material PX plummeted by $80, and its cost support role for PTA fell again. Thirdly, the downstream market of PTA is still shrouded in a gloomy atmosphere. The factory's sales are not smooth, and the shipment mentality is becoming more and more obvious. At the same time, the devices overhauled in the early stage have been resumed, putting pressure on the supply. Under the influence of whether the swing rod has zigzag deformation, PTA will continue to bear pressure. Technically, PTA is in the downstream channel without obvious support. Suggestion: short positions in the early stage can continue to be held

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