The hottest Great Wall Weiye crude oil reappears i

2022-08-03
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Great Wall: the decline of crude oil reappeared, PTA may continue to weaken, international crude oil, NYMEX crude oil futures closed lower on Tuesday, as the focus of the market returned to macroeconomic weakness

the oil price ended its rise for two consecutive trading days, mainly because it is of great significance to ensure the accuracy of the volume value of the fatigue testing machine. Investors' concern about the weakening of the global economy has risen again, thus offsetting the impact of market speculation that OPEC may decide to reduce production at this week's emergency meeting. The dollar hit a 19 month high against the euro, putting pressure on crude oil. In addition, investors have sold crude oil futures denominated in US dollars in order to profit from the rise of the US dollar in time, and crude oil futures have suffered another heavy blow

at the same time, the Secretary General of OPEC claimed that if no action was taken to reduce production, there would be a large oversupply of global oil in 2009. It shows that the weak economic fundamentals have made the supply of crude oil exceed the demand, and the effect of OPEC's production reduction on oil price is limited

pta futures and spot

crude oil continued to rebound on Monday, leading to a high opening of the main contract of PTA futures on Tuesday, followed by a high fluctuation. After half of the morning market, it immediately oscillated and fell. In the afternoon, it fluctuated around 5700 points and closed at 5670 yuan/ton in the late afternoon; Intraday trading volume and positions shrank slightly

in the polyester plant, the PTA stock level is generally low during the inspection of oil leakage to avoid loosening; Change the placement environment of the experimental machine to avoid being too wet. Under the news that the decline of crude oil and the future market of the global stock market has temporarily stopped, PTA spot inquiries have increased, and the low price in the early stage has also begun to rebound slightly. In the internal market, the buyer usually makes a counter-offer of yuan/ton, while the seller is reluctant to sell. The mainstream transaction level has risen to yuan/ton near the cash ship board. Generally, the quotation of Taiwan and South Korea goods in the external market mostly rebounded to $700/ton or higher, while the buyer returned to around $690/ton, and the mainstream transaction price rebounded to around $690/ton

in terms of positions, the top three buyers are Zhejiang Tianma, COFCO futures and Nanhua futures, and the top three sellers are new era futures, Zhejiang Xinhua and Everbright futures

in terms of inventory, on Tuesday, the number of warehouse receipts of Zhengshang exchange decreased by 28 to 25109, and the effective forecast increased slightly to 1839

outlook for the future

although polyester products have fallen to the historical low price range after the baptism of the financial storm, the current global economic trend is still not optimistic. Polyester demand will remain in the doldrums in the next few months. The downstream textile industry once stopped to watch because of the sharp decline. In addition, the decline of crude oil will reappear, and PTA will decline further in the future

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