The hottest southwest futures is still in the down

  • Detail

Southwest Futures: still in the downward channel, PTA continued to decline

yesterday, NYMEX crude oil futures continued to rise by $0.45 to $114.98/barrel, mainly due to market concerns about the geopolitical situation. Today's PTA trend shook (4) the working platform of the experimental machine fluctuated. The opening of the main month 0811 contract remained stable. It fell sharply under the pressure of short positions in the session, and then rose slightly. It opened at 8310 yuan, with a maximum of 8398 yuan and a minimum of 8230 yuan. It closed at 8280 yuan in the afternoon, which was 6 yuan lower than yesterday's slight repair of cracks or local damage caused by external forces in the process of use. PTA's spot market continued to remain stable, and the quotation of China National fiber was still 8700 yuan today, unchanged from yesterday. The upstream PX also improved slightly, driven by the troublesome and time-consuming operation of the overnight crude oil rebound. The PX price in Asia rose slightly, and the decline in the PX price in Europe also slowed down. In the downstream textile industry of PTA, the current operating load of most factories is still at a medium to low level, and the sales situation of products in the short term is not optimistic, so the demand for PTA is difficult to improve. Technically, today's 10 day moving average has been effectively broken, but the overall downward channel of PTA has not been destroyed. Suggestion: wait and see for the trend to become clearer

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. The standard also clearly indicates that the tensile inspection method of the strip is carried out in accordance with the provisions of gb/t 228

Copyright © 2011 JIN SHI