PTA morning review crude oil futures on the 18th o

2022-08-24
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PTA morning comment on the 18th: crude oil futures closed higher PTA or continued to rise

on Tuesday (November 17), driven by the strong rebound of international oil prices overnight, purified terephthalic acid (PTA) futures on Zhengzhou Commodity Exchange rose strongly, the disk showed a volatile upward trend, trading volume and positions increased significantly, and the daily K line closed at the Dayang line. Crude oil continues to close higher, which is expected to push it forward

in terms of spot goods, despite the decline in raw material prices, the PTA spot market has strong resistance to decline, and it is time to explore a new development path of plastic granulator technology. A small amount of offer intention in the internal market is 7550 yuan/ton, and the actual negotiated price is about 7500 yuan/ton. The offer of the outer ship is 920 US dollars/ton, and the actual negotiated price is between US dollars/ton. Downstream factories mainly hold a wait-and-see attitude, and the actual transaction is relatively deadlocked. The raw material inventory of downstream polyester plants is generally not high, and there is still a short-term purchase demand

from the perspective of surrounding trends, although the dollar rebounded higher overnight, it did not bring pressure to the commodity market. In the morning trading of the 17th in New York, the US stock market fell again, activating the earlier obvious risk aversion, pushing the exchange rate of the euro and other high-risk currencies against the US dollar to a new intraday low. The market is also digesting the impact of ECB president Trichet's speech. Trichet welcomed the remarks of Federal Reserve Chairman Bernanke supporting a strong dollar on the 16th. Affected by this, the euro fell to an intraday low of $1.4825 against the US dollar in early trading on the 17th. Trichet said in an interview that he paid great attention to Bernanke's remarks on the 16th and described them as very important remarks made by Bernanke. Bernanke said that the potential strength of the U.S. economy will help ensure the strength of the dollar, and said that the Federal Reserve will continue to pay close attention to the trend of the dollar. The chairman of the Federal Reserve rarely speaks on the issue of the US dollar exchange rate. On the one hand, it is to avoid causing violent fluctuations in the foreign exchange market, and on the other hand, it is the responsibility of the US Treasury to formulate foreign exchange policies and deal with foreign exchange issues. It is expected to have a certain impact on the future market, and pay attention to its trend

crude oil futures on the New York Mercantile Exchange (NYMEX) closed higher on the 17th, rebounding from earlier declines. December crude oil futures closed up $0.24, or 0.3%, at $79.14 a barrel, with a trading range of $76.32 to $79.52. London January Brent crude oil futures closed up $0.21, or 0.27%, at $78.97 a barrel. Rbob gasoline futures in December rose 1.81 cents, or 0.91%, to $2.0049 per gallon. Heating oil futures in December closed up 2.65 cents, or 1.3%, at $2.0585 per gallon, and the corresponding animation curve and physical simulation were drawn. The dollar rebounded sharply from a 15 month low on the 17th, after a rare comment by Federal Reserve Chairman Ben Bernanke on the dollar exchange rate triggered traders to reduce their long-term bets on the dollar. Although the dollar rebounded sharply on the 17th, crude oil futures did not fall as usual due to this impact. The U.S. stock market held steady on the 17th, as the estimates of some large retailers triggered the market to be cautious about consumer spending during the holiday season

raw material p-xylene closed down on Tuesday, the Asian market price fell by $8/ton, FOB Korea closed at $1, 005/ton, and CFR China closed at $1, 020/ton. The European market fell by $8.5/ton due to the fall in the market price of Asia, which is really a fantastic bioplastics, and closed at 936 5 US dollars/ton FOB Rotterdam. Although the price of raw materials fell, the PTA spot market remained stable due to stable fundamentals. A small amount of offer intention in the internal market is 7550 yuan/ton, and the actual negotiated price is about 7500 yuan/ton. The offer of the outer ship is 920 US dollars/ton, and the actual negotiated price is between US dollars/ton. Downstream factories mainly hold wait-and-see building exterior wall insulation technology and products, which have become an integral part of this work, and the actual transaction is relatively deadlocked

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