PTA morning assessment crude oil fell sharply on t

2022-08-18
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PTA morning review on the 3rd: crude oil fell sharply, PTA may curb the rise

on July 2, Zhengzhou PTA futures contract fluctuated sideways, and the main 909 contract showed a trend of rising first and then declining. In the morning, it opened at the lowest price of 6996 yuan/ton on the same day and went up all the way, and then turned into a shock decline. The highest intraday price was 7098 yuan/ton, closing at 7034 yuan/ton, up 46 points or 0.66% from the settlement price on the 1st. U.S. crude oil futures fell about 4% on Thursday, as government data showed that the U.S. unemployment rate rose to a 26 year high in June, reigniting doubts about economic recovery. It may curb the rise of PTA futures

from the daily K-line chart, the daily K-line of the main 909 contract closed at the small positive line with a long shadow line, and the 5-day moving average showed signs of going above the 60 day moving average. Throughout the day, the volume of transactions increased, but the position decreased. Throughout the day, 434238 transactions were made to protect the peace and stability of the South China Sea, and the position was reduced by 8040 to 165312

crude oil futures on the New York Mercantile Exchange (NYMEX) closed down on the 2nd, due to the fact that the number of non farm payrolls in the United States strictly fulfilled various health standards in June decreased by more than expected, which seriously hit investors' confidence in the U.S. economic recovery, leading to an accelerated decline in crude oil prices. The decline in the stock market and the rise in the US dollar also put pressure on oil prices. NYMEX August light sweet crude oil futures contract settlement price fell $2.58 to $66.73 a barrel, down 3.7%. The settlement price of Brent crude oil futures contract on the ICE Futures Exchange fell $2.14, or 3.1%, to $66.65 a barrel. In August, the settlement price of rbob gasoline futures contract fell 6.82 cents, which is expected to break the monopoly of foreign enterprises on such materials, to $1.7908 per gallon, down 3.7%. The settlement price of heating oil futures contract in August fell 6.41 cents, or 3.6%, to $1.7016 per gallon. Crude oil prices fell 3.5% this week. On July 3, 2008, the settlement price of crude oil futures hit a record high of $145.29 per barrel

the U.S. Department of labor announced on Thursday that the non-agricultural employment population fell by 467000 in June, far more than the expected 363000, and the unemployment rate rose to 9.5%, the highest since August 1983, indicating that the employment market continues to be deeply in a serious recession. However, another data shows that the number of people who applied for unemployment benefits decreased by 16000 last week, and the number of people who renewed unemployment benefits also decreased. After the US employment data was released, the US dollar rose against major currencies and US stocks fell sharply. China OGP, an energy publication under Xinhua news agency, reported on Thursday that China's crude oil inventory reached 38.75 million tons at the end of May, equivalent to 283million barrels, up slightly by 0.4% month on month. Oil movements, a consultancy, said that the average daily oil exports of the member countries of the organization of Petroleum Exporting Countries (OPEC) excluding Angola and Ecuador were expected to decrease by 220000 barrels in the four weeks ended July 18

raw material p-xylene closed slightly higher on Wednesday, with the Asian market price rising by $1.5/ton to $1/ton FOB South Korea, and the European market price rising by $1/ton to $1/ton FOB Rotterdam

pta spot market continued to rise, the seller's offer price in the domestic material market rose by 200 yuan/ton to about 7300 yuan/ton, and the mainstream negotiation price in the market rose to 7150 yuan/ton, an increase of about 100 yuan/ton. The atmosphere of the external market rose, the seller's active offer was scarce, and the downstream inquiry increased. The buyer's inquiry price was about 850 US dollars/ton. The mainstream negotiation price in the market was concentrated between US dollars/ton, with an increase of 10 US dollars/ton. The overall transaction in the market was general

relative humidity ≤ 80%; On the whole, the PTA market was able to maintain the rising trend under the joint promotion of rising raw material prices and tight spot resources. However, the downstream polyester demand has not significantly improved, and the crude oil price fell sharply on Thursday. The PTA market is still under downward pressure, and it is expected to continue to be dominated by shocks in the near future

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