The hottest Great Wall Weiye continued to alleviat

2022-08-06
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Great Wall: supply shortage continued to ease, PTA continued to callback, international crude oil futures rose sharply on Wednesday, jumping above $55. The main contract of NYMEX rose 4.64% to close at USD 56.34/barrel; London brand rose to $56.15 a barrel, or 3.75%

the US energy information administration released the latest inventory report on Wednesday. The data showed that as of the week of May 1, the US crude oil inventory had increased by 600000 barrels, while the gasoline inventory had decreased by 20 shares, and the axis of the dynamic photoelectric encoder had rotated by 10000 barrels; Meanwhile, the operating rate of the refinery also rose sharply to 85.3%, the highest since December 2008. The increase of crude oil inventory is smaller than the previous data. Considering the increase of import volume in the current week, the higher operating rate of refineries, and the reduction of gasoline inventory for the second consecutive week, we can preliminarily infer that with the approaching of summer, the market demand is slowly recovering, which is the fundamental reason why the oil pipe should be cleaned with kerosene, and the recent oil price is off the $50 shock level

gasoline inventory has decreased for two consecutive weeks, and crude oil inventory growth has decreased, which may be the beginning of destocking caused by the arrival of driving peak. Now is the time for thinking change

pta futures and spot

PTA futures oscillated at a low level on Wednesday. Ta909 opened at 77, ultra-high molecular weight polyethylene uhmwpe162, 78 points lower than yesterday's closing price, with the highest rising to 7228 points and the lowest to 7280 points. The final market accelerated to decline and closed at 7126 points; The trading volume reached 472768, and the position was reduced by 3720 to 118662

position ranking: on Wednesday, the main long positions were significantly reduced, while the short positions were significantly increased. Zhejiang Yong'an has 2248 empty orders and 146 excess orders; 456 short orders and 641 long orders were added and subtracted for Dayue futures; Chengdu Beite and other main forces also have similar operations. On the whole, the main short positions in the market increased by 4406 and the main long positions increased by 1630. The total positions of the two sides are roughly the same

pta spot continued to decline inertia. The spot price of the internal and external markets gradually dropped to around RMB yuan and USD/ton, but the market confidence was obviously insufficient. The mainstream transaction negotiation level was about 7750 yuan and USD/ton

the production and sales of polyester yarn in Jiangsu and Zhejiang are sluggish, and most factories are successful. The actual transaction drum stripping experiment discount is relatively common, with a range of yuan/ton. The direct spinning polyester short-term market was stable, the ex factory quotation of Jiangsu and Zhejiang manufacturers remained at the level of yuan/ton, and the sales situation turned weak slightly

outlook for the future

several PTA production units shut down due to PX shortage in the early stage will resume operation in the near future, the tight supply situation in the market will be further eased, and the production and marketing situation of downstream polyester will continue to decline, which will be the driving force for PTA to continue to callback in the future

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