The hottest morning comment on November 1, crude o

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Early comment on November 1: crude oil fell, dragging down PTA or weak shock

PTA futures in Zhengzhou fell on the 29th. The main 1105 contract closed at 9012 yuan/ton, down 0.66%. The pressure of the macro environment rose, the downstream tended to wait and see, and the futures price fluctuated and closed lower. However, the crude oil price remained above $80, and the continuous rise of PX price supported PTA. The spot and downstream high levels were strong, and the long thinking could still be held in the later stage, but PTA did not have the basis for rapid and substantial rise. It is expected that PTA will continue to adjust in the future, but there is still room for growth. PTA may be weak due to the decline of crude oil overnight

crude oil futures on the New York Mercantile Exchange (NYMEX) fell on the 29th, so a previous report said that the U.S. economy grew only slightly in the third quarter. Crude oil futures prices fluctuated in a narrow range during the week of the 29th. The settlement price of December light sweet crude oil futures on the New York Mercantile Exchange fell 75 cents, or 0.9%, to $81.43 a barrel. Traders are now focusing on the week of November 1, when the Federal Reserve (FED) is expected to launch an economic stimulus plan that will expand the money supply by buying bonds, also known as quantitative easing. Traders are worried that this policy may lead to a further decline in the US dollar, which represents the weakness of many famous equipment OEM manufacturers, and the decline of the US dollar will push up the price of crude oil. However, various uncertainties surrounding the scale of the Fed's policy made the US dollar fluctuate violently in the week of the 29th, prompting crude oil prices to fluctuate in a narrow range and expand the scope of bilateral local currency swaps

in terms of devices, the PTA device with a capacity of 600000 tons/year of Ningbo Mitsubishi stopped again due to failure, and the restart time has not been determined. In the early stage, due to equipment problems, the device was restarted and started normally after a short daily shutdown, and recently stopped again for some reason. Xianglu Petrochemical introduced the PTA contract quotation in November to 8800 yuan/ton

in terms of spot goods, the atmosphere of East China PTA market is wait-and-see. The offer of the holder remains around 8550 yuan/ton, and the buyer's inquiry is rare. It is mainly wait-and-see. The mainstream negotiation in the market is around yuan/ton, and there are few firm offers. The PTA spot market in Asia is stabilizing, and there are few shipping offers in the market. The mainstream negotiation of bonded goods is around us dollars/ton. Korean goods are offered in US dollars/ton, and the shipment is negotiated in US dollars/ton. The firm offer is light

in the downstream, the semi-optical slicing market in Jiangsu and Zhejiang is still deadlocked. 2. The maintenance of the electronic universal laboratory machine has a relatively light atmosphere. The mainstream quotation of the factory is stable at RMB/ton cash or three-month acceptance. The negotiation focus is mostly around 10700 yuan/ton (cash withdrawal) or 10800 yuan/ton March acceptance. Some 10850 yuan/ton March acceptance, but the transaction is not easy. The second tier brands negotiate less than 10800 yuan/ton March acceptance. Jiangsu and Zhejiang polyester staple fiber market is light, the mainstream market quotation remains at yuan/ton, and some negotiated prices are at yuan/ton, delivered in cash

recently, weaving manufacturers and texturing enterprises have been cautious in purchasing polyester in order to produce quantitative products, which has an impact on the purchase of polyester in the future. Most polyester spinning mills believe that the production and marketing situation should be maintained as much as possible, and there is no intention of price adjustment. In the short term, the polyester market will be stable

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