PTA morning comment on the hottest 3 days, crude o

PTA morning comment on the 3rd: crude oil closed steady, PTA trend to be determined

Zhengzhou PTA futures contract fell by the limit almost across the board on September 2, and the total position increased by 17316 to 147832. The main 910 contract jumped sharply and opened low in the morning, and maintained a narrow fluctuation after the opening. It began to dive in the afternoon and fell to the limit. The opening price was 7292 yuan/ton, and finally closed at the limit price of 7162 yuan/ton, down 300 points from the settlement price of the first day, down 4.02%

technically, the K line of the main 910 contract day closed at the low open middle Yin line. A total of 112014 transactions were made throughout the day, with positions increased by 13720 to 88094; On the disk, affected by the continuous decline of international oil prices, PTA demand is weaker. In the case of the common downturn in the upstream and downstream situations, it is expected that the PTA market will continue to bottom downward

crude oil futures on the New York Mercantile Exchange (NYMEX) closed flat on the 2nd, as the increase in U.S. gasoline demand was seen as an accident in view of the renewed concerns about the economy. The settlement price of October light and low sulfur crude oil futures on the New York Mercantile Exchange was reported to be US $68.05 per barrel, but the price of finished products was not ideal. Ice futures closed down 10 cents to $67.63 a barrel on the 6 steel bar barometric welding exchange Brent crude oil futures contract. The U.S. Department of energy previously announced that U.S. crude oil inventories fell by 400000 barrels and gasoline inventories fell by 3million barrels, a decline greater than expected. Oil prices rose for a time after the news was released. However, although the latest data showed a slight increase in gasoline demand, the overall demand in the oil market remained sluggish. After the Labor Day holiday, driving in the United States will decline, making gasoline demand less sensitive to oil prices

eia announced that crude oil inventories in the United States decreased by 400000 barrels to 343.4 million barrels a week, with an estimated decrease of 600000 barrels. Gasoline inventory decreased by 3million barrels to 205.1 million barrels a week, with an estimated decrease of 900000 barrels. The U.S. weekly distillate oil inventory increased by 1.2 million barrels to 163.6 million barrels, with an estimated increase of 600000 barrels. The American Petroleum Institute (API) announced on Tuesday that the crude oil inventory in the United States decreased by 3.2 million barrels in the latest week, and the stable value of gasoline and distillate oil inventory difference within ± 2 in the latest week decreased by 2.8 million barrels and increased by 920000 barrels respectively

according to the report released by ADP employee services, a private employment service, on Wednesday, the number of private sector employment in the United States decreased by 298000 in August, more than the median decrease of 250000 predicted by analysts interviewed by Reuters. After the correction last month, it was reduced by 360000, and the initial value was reduced by 371000. The US Department of Commerce announced on Wednesday that US factory orders increased by 1.3% in July, the fourth consecutive month of increase, and the market is expected to increase by 2.2%. The order of durable goods (durable goods) in July increased by 5.1% after revision, and the previous value increased by 4.9%

raw material p-xylene closed down on Tuesday, and the Asian market price fell by $46.5/ton to 960 25 dollars/ton FOB South Korea, the European market price fell sharply by 56.75 dollars/ton to 865 US $25/ton FOB Rotterdam

the decline of PTA spot market intensified. The seller's offer price in the domestic material market fell sharply by 200 yuan/ton to 7400 yuan/ton, and the mainstream negotiation price also fell by 200 yuan/ton to about 7300 yuan/ton. The quoted price in the external market fell by $30/ton to $855/ton, and the mainstream negotiation price was $830/ton. It has been the Prime Minister for 11 years, with a decline of $50/ton. There is a strong wait-and-see atmosphere in the market. Only a few downstream factories have inquiry intention, and the firm offer has not been reached

on the whole, the upstream crude oil futures price fell below $70, which depressed the PTA market. Meanwhile, the Asian market price of raw material p-xylene fell below US $1000/ton for the first time since July 15, leading to the spread of market panic. It is reported that the downstream polyester market is in a downturn. In order to reduce losses, the production and sales rate of most manufacturers has been reduced to about 55%, and the PTA demand side is weaker. In the case of the common downturn in the upstream and downstream situations, it is expected that the PTA market will continue to bottom downward

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