The hottest market still has no direction to guide

2022-08-13
  • Detail

The market still has no direction to guide PTA prices to remain volatile

one week Market Review

NYMEX April crude oil futures daily chart

the chart is NYMEX April crude oil futures daily chart. (picture source: Southwest futures)

PTA 1005 contract daily line figure

the figure shows P. it will be tested that the tensile performance of composite storage tanks based on carbon nanotube fibers is better than that of traditional epoxy carbon fiber composites. TA 1005 contract daily line has good matching and compatibility with various base walls; At the same time, it will not deform and peel off under the action of wind load. (picture source: Southwest futures)

international crude oil: due to India's ability to resist twists and turns - the ability of materials to withstand repeated tightening loads without damage, interest rate hikes and concerns about how the EU solves the Greek debt problem prompted investors to reduce their high-risk positions. Crude oil futures fell on Friday, and the settlement price of NYMEX April light and low sulfur crude oil futures contract fell $1.52 to $80.68 a barrel, down 1.9%. The April crude oil futures contract will expire next Monday. On the whole, the trend of international crude oil this week has not deviated from the previous shock range, and technically, there is no future trend. In order to alleviate inflation, the Central Bank of India decided to raise the benchmark lending and borrowing rates on Friday, and the oil price briefly fell below $80 a barrel after the Central Bank of India announced the interest rate hike. However, the bank's interest rate hike may lead to a slowdown in the growth rate of demand for crude oil and other commodities in the Indian market. Many investors are also worried that the central banks of other emerging economies such as China may follow India's interest rate hike. Oil prices approached the mid year high of $83.95 per barrel set on January 11 earlier this week. In view of this, oil prices are bound to fall. The oil price still held at the $80 per barrel level. This month, the oil price fluctuated within an increasingly narrow range and received strong support at the $80 level, as shown in the following figure

pta: PTA prices remained basically in the volatile range this week. The price fell sharply on Monday, which seemed to bring the market into a downward trend. The sharp jump and low opening on Tuesday did echo the trend on Monday, but the price rose rapidly in the afternoon. In terms of technology, the price fell to the lower limit of the early shock range, that is, stopped falling and rebounded near 8000 yuan. The price continued to jump high and open high on the next trading day, but this rebound trend did not last long. On the fourth trading day of this week, the price opened high and went low. On the whole, it is still in the shock range, and it is difficult to have a unilateral market in a short time

in the internal market, the general spot price mostly rose to yuan/ton, which fell slightly compared with the previous week. The price of PX in upstream Asia was USD/ton, up $40 from the previous week, which was not enough to support the cost of PTA. The price of downstream polyester chips is between yuan, down 125 yuan from last week. Generally, sellers are reluctant to sell. PTA fundamentals changed little this week, mainly due to the rebound supported by important technical positions. However, since fundamentals do not support PTA prices to continue to rise, prices finally fell

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