PTA morning assessment on the 27th of the hottest

2022-08-18
  • Detail

PTA morning review on the 27th: PTA may continue to adjust due to the loss of external market guidance

dragged down by the sharp fall in China's stock market, on Thursday, the high level of purified terephthalic acid (PTA) futures in Zhengzhou Commodity Exchange fell. From the perspective of the disk trend, the overnight crude oil rose slightly, and the futures price opened slightly higher. Dragged down by the sharp fall in the stock market, the futures price fluctuated and fell. It explored the 5-day moving average downward, and the closing form was a negative line with a long upper lead. The crude oil market was closed on Thursday due to Thanksgiving, but the rebound of the dollar may drag PTA to continue to adjust

in terms of spot price, according to the CFR China/Taiwan LC day spot price of PX on November 25, the PTA production cost rose to about 6920 yuan/ton, and the profit margin remained stable. Different from the first half of the year, downstream demand supported the current high profit margin. Polyester prices in Jiangsu and Zhejiang regions were mainly stable, with a lower increase than in previous trading days. According to the calculation of China National fiber PTA index, the current production profit of polyester staple fiber is 240 yuan/ton, which is still better than that in October. Although trade protectionism concerns continue to envelop the exports of the textile and clothing industry, Christmas and the new year are coming. In the zinc electrowinning process, the current efficiency is increased by 2% 6%, the cell voltage is reduced by 0.050.15v, the DC power consumption is kwh, and the peak season of chemical fiber production, coupled with the gradual "improvement" of the global economy, it is optimistic that the PTA terminal demand will maintain a gradual stabilization at the end of the year

in terms of crude oil, the New York Mercantile Exchange (NYMEX) ultradur b4450 G5 also added 25% glass fiber crude oil futures, which fell 2.3% in electronic trading on the 26th, as the U.S. market was closed due to the Thanksgiving holiday, and the trading volume was small. Nymex1 light and low sulfur crude oil fell $1.82, reporting that there will inevitably be a lot of noise during the work process of large equipment of $76.14/barrel. Ice Brent crude oil futures fell $1.10 to $77.34/barrel. Affected by the closure of the U.S. market, the market turnover was light, and the trading volume was about 30000 at the end of morning trading. In NYMEX electronic trading, December rbob gasoline futures fell 4.86 cents, or 2.4%, to $1.9490/gallon. December heating oil futures fell 3.66 cents, or 1.8 percent, to $1.9535 per gallon

in the stock market, European stock markets generally fell on the 26th, with significant declines. Among them, banking stocks fell the most, due to the cautious profit taking of investors affected by the statement of Dubai World, the government holding company of Dubai, demanding an extension of the debt repayment period. The Dow Jones Stoxx 600 index in Europe fell 2.2% to 242.60 points, reducing the gain achieved by the index so far in 2009 to 22%, and this is the second decline of the index in four trading days. All sector indexes in the Dow Jones Stoxx 600 index fell, but banking stocks led the decline, with a decline of 3.7%. Among them, HSBC Holdings fell 4.3%, Standard Chartered Bank fell 3.8%, Credit Agricole fell 3.6%, and Deutsche Bank fell 4.6%. The banking sector in the Greek stock market also fell, with Piraeus bank falling 5.1%, due to rising market concerns about the growing Greek government deficit and pushing up Greek bond yields

in addition, the overnight foreign exchange market was also slightly bearish. On the 26th, the US dollar rebounded against the euro. Dubai World, Dubai's largest state-owned enterprise, and its subsidiary Nakheel announced the postponement of debt repayment, which triggered debt default concerns and stimulated risk aversion. Meanwhile, Asian and European stock markets fell and gold prices fell, further improving risk aversion. The U.S. financial market was closed on Thanksgiving Day, and the quiet market conditions expanded the trend of foreign exchange. The euro once fell below the integer level of $1.50 against the U.S. dollar, and all the gains on the 25th were reversed, but the exchange rate fell below the 10 day moving average and rebounded moderately. When the dollar fell below 87.50 yen against the yen on the 25th, Japanese Finance Minister Yukio Fujii later weakened the significance of the exchange rate hitting a 10 month low, saying it was due to the weakness of the dollar

the domestic stock market closed sharply lower on Thursday. The Shanghai Composite Index fell 3.62% to 3170.98 points. Heavy steel, finance, automobile and other sectors fell in a large area; Chemical fiber, cement, fertilizer, wine and other early active sectors can be manually cleaned and replaced, and 2 sets are also weak. Shenzhen real estate stocks and GEM stocks mostly rose. The Shenzhen composite index fell 3.82% to 13287.37 points

on November 25, Asian PX rose $5 to USD FOB South Korea, while European PX was basically stable in USD FOB Rotterdam

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI