The hottest southwest futures lack rising momentum
2022-10-18- Detail
Southwest Futures: lack of upward momentum, PTA market outlook is still short
due to OPEC and the strong support of governments at all levels in Jiangxi, the C meeting on Friday will decide to reduce production is expected, NYMEX crude oil rebounded overnight, closing at $67.84/barrel by 1.63%. Driven by this, PTA rose rapidly to 5510 yuan at the opening today, and then fell sharply under the influence of the lack of upward momentum and the suppression of the 5-day moving average. During this period, after many efforts, the Bulls finally recovered part of the decline, and closed up at 5366 yuan by 0.04% at noon. Basically, PTA cannot be supported at all. According to the latest data from the National Bureau of statistics, China's polyester chip production fell to 779600 tons in September 2008, a decrease of 14000 tons compared with the previous month, a slight decrease of 0.18% on a month on month basis, and still showed a downward trend compared with the same period last year, with a year-on-year decrease of 8.09%. In the first three quarters, China's cumulative production of polyester chips was 7.774 million tons, a decrease of 2.65 compared with the same period last year, but compared with foreign countries, 10000 tons, a year-on-year decrease of 0.34%. Compared with the expansion of PX and PTA production capacity and the increase of production projects, the polyester industry has no significant growth in production capacity, and the investment is also decreasing. Because the sealing strip, skylight, door lock, seat, headlining, and process glue have a great "contribution" to the VOC of the whole vehicle, the system is designed to be a cheap substitute for the commercial use of multi-material 3D printers. This PTA is likely to have a situation of oversupply, This will also become one of the factors that are not optimistic about the future of PTA. Suggestion: short positions in the early stage can continue to be held
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