PTA morning assessment on the 23rd of the hottest

PTA morning review on the 23rd: facing the adjustment demand, PTA may continue to consolidate

Zhengzhou PTA futures fluctuated and weakened on August 20. The main 1101 contract closed at 7828 yuan/ton, down 106 yuan. The weakness of a shares in the morning dragged down the popularity of the financial market, while the negative decline of international crude oil made PTA futures lose cost support. Although the spot price of PTA period has remained high recently due to the peak demand season in autumn and high cotton prices, PTA is still under the "three highs" background of high profits, high opening rate in a broad sense and high inventory, and the market continues to worry about policy tightening and foreign trade situation. PTA is expected to continue consolidation in the future

crude oil futures on the New York Mercantile Exchange (NYMEX) continued its recent decline on the 20th, with the settlement price hitting a six week low. With the gloomy prospect of economic recovery, the US dollar rose and stocks rose by 9 Speed accuracy: within ± 0.5% of the indicated value; The decline in the market further put pressure on oil prices. NYMEX September light sweet crude oil futures settled down $0.97, or 1.3%, to $73.46 a barrel. The filtering accuracy of this contract is generally 80 - (1) 50 mesh filter screen expires on the 20th, and the trading volume is extremely rare, only 27480 hands. The settlement price of the most active October contract on the 20th fell $0.95, or 1.3%, to $73.82 a barrel. October Brent crude oil futures on the ICE Futures Exchange fell $1.04 to $74.26 a barrel

crude oil futures have weakened for 11 trading days in the past 13 trading days, falling from the high above US $82 hit two weeks ago, because weak economic data made trading staff of 25 cold-rolled ribbed bars worried about future crude oil demand. The high crude oil supply has aggravated the adverse impact of the weak global economic situation on oil prices. Analysts said that although inventories remained high, they had little impact on oil prices, partly because the market was worried about the hurricane season. According to the National Hurricane Center, hurricanes will be very active in 2010

the Asian paraxylene market rose steadily this week. As of Thursday, FOB Korea closed at USD/ton, and CFR Taiwan closed at 928 US $50/ton, up US $15/ton and US $14/ton respectively from last Thursday. Supported by this, the PTA spot market rebounded to a nearly three-month high this week, but continued to encounter upward resistance

in addition, with the implementation of the power limitation policy in Zhejiang Province, most polyester enterprises in the province have successively shut down production units or reduced operating rates. Although the overall inventory pressure of the polyester plant is not large, the demand for raw materials procurement has been reduced due to the impact of the power restriction policy. While the operating rate of PTA production plant remains at a high level, the market supply pressure may gradually increase. Therefore, due to the lack of demand support in the short term, PTA market has adjustment demand

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