The hottest PTA weekly review has multiple positiv

2022-09-21
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PTA weekly review: multiple positive factors boosted PTA high consolidation

Zhengzhou PTA futures high consolidation last week. Among them, the main 1209 contract opened at 7538 yuan/ton, with a maximum of 7742 yuan/ton, a minimum of 7394 yuan/ton, and closed at 7640 yuan/ton, up 102 yuan or 1%. The positive measures of macro interest rate reduction and crude oil are the main reasons for the rise of PTA. In addition, the quotation of the downstream polyester staple fiber factory actively increased, and the shipment was in good condition. After this centralized shipment, the factory inventory fell to a low level, and PTA supply and demand improved slightly. However, the spot is still slightly weak, which is suitable for finished product inspection and single 1 material index test of industrial and mining enterprises; However, the actual improvement of the electro-hydraulic servo universal material testing machine has not yet occurred. Because the short-term rebound is too high, PTA rebound kinetic energy in the later stage may be exhausted

in the crude oil market, as the previous crude oil price has been suppressed by the European debt crisis, New York crude oil futures even fell below the important threshold of $80 a barrel. In China, the European Central Bank announced to cut interest rates to an all-time low, and crude oil prices once rose sharply. Then the latest U.S. non farm employment data showed that 80000 new jobs were created in June, crude oil fell, and domestic diaphragm shipments reached 1.08 billion Ping. During the week, due to macro fluctuations, crude oil staged a roller coaster market

in the macro aspect, the people's Bank of China, the European Central Bank and the Bank of England announced the easing of monetary policy within one hour on Thursday. The Central Bank of China decided to cut the benchmark interest rate of one-year loans of financial institutions by 0.31 percentage points to 6.00% from Friday; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage points to 3.00%. The European Central Bank cut interest rates to a record low of 0.75%. Although the Bank of England did not cut interest rates, it expanded its purchase scale, and the amount of treasury bond purchase increased by 50billion pounds. The effect of the easing policies of the three major central banks depends on the next policy trend of the Federal Reserve, and whether the latter will continue to ease along with the policies of other central banks

according to the industrial chain news, as the price of upstream raw material PX quickly rebounded to above $1300, and PTA polyester interaction rose. PTA industry chain mentality changes significantly, MEG price increases and reluctant to sell, polyester and polyester short sales are smooth, and the price rises. Driven by psychology, downstream weaving and texturing manufacturers have entered the market to cover their positions, and the purchase volume has been moderately enlarged. Polyester prices still have an upward trend in the short term

in the spot market, the domestic trade market in East China is relatively cold. The offer price of the goods holder is about 7600 yuan/ton, the downstream offer price is about 7500 yuan/ton, and the actual negotiated price is around yuan/ton. The market situation in North China is flat. The market offer price is about 7650 yuan/ton, the offer price of downstream manufacturers is about 7550 yuan/ton, and the actual negotiated price is around yuan/ton

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