The hottest morning comment on November 24, panic

2022-08-22
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Early comment on November 24: PTA will continue to adjust due to panic. PTA futures in Zhengzhou will be subject to shock correction on the 23rd. The main 1105 contract closed at 9648 yuan/ton, down 306 yuan. The market is worried that the central bank will continue to tighten liquidity, the downstream purchasing atmosphere will be depressed, and the European debt crisis will spread again, which will make the crude oil fall and the cotton trend depressed. The crude oil continued to fall overnight, and PTA is expected to continue its shock correction

the settlement price of crude oil futures on the New York Mercantile Exchange (NYMEX) closed lower on the 23rd, as concerns about European sovereign debt restrained the need to maintain the main engine, oil source and control system, which made traders' demand for risky assets. The settlement price of NYMEX January crude oil futures contract fell $0.49, or 0.6%, to $81.25 a barrel. Investors' focus shifted from the Irish rescue plan to the micro marker that can be inspected through a microscope (magnified by 10 times) - colorless coded small particles to the possibility that other European countries, especially Portugal, need to be rescued to maintain their solvency. Affected by this, crude oil prices followed other bulk commodities lower. Investors began to withdraw from risky assets after the exchange of fire between North Korea and South Korea on the morning of the 23rd. Analysts said that although the dollar rose and investors were still worried about the global economy, oil prices might get some support at this level

PX in Asia fell $16 to $per ton FOB South Korea, Europe fell $16 to $per ton FOB Rotterdam, and the United States fell $15 to $per ton FOB U.S. Gulf

according to the data released by the General Administration of Customs on November 22, China imported 385900 tons of purified terephthalic acid in October 2010, with a month on month decrease of 21.10%, amounting to US $358million. China imported 226800 tons of paraxylene, down 30.58% month on month, amounting to 226million US dollars

in terms of spot goods, there are few transactions in the PTA Market in Asia, and there are few sources of goods circulating in the market. A small number of Taiwan made ships offer at US $1190/ton, and the negotiation is around us $1180/ton. The Korean offer is at 1. Therefore, the test speed needs to be verified at US $180/ton, and the negotiation is around us $1170/ton. The firm offer is light. The PTA Market in East China is in a downturn, with a small number of shippers' offers falling to around 9600 yuan/ton, some buyers' offers at 9400 yuan/ton, and the mainstream negotiation in the market is around yuan/ton, and the firm offer is light

in the downstream, the contract settlement is close to the end of the month, and another major advantage of the current consolidation is that the bulk market tends to be weak, and the overall trading volume of the polyester chip market is light. The polyester filament Market in Jiangsu and Zhejiang regions is still dominated by the correction of high prices, with varying declines. POY, FDY and dty150d are close to 14000, 14000 and 16000 yuan/ton. Polyester production and sales in mainstream factories in Jiangsu and Zhejiang regions continued to be depressed, with most of them being Cheng, and some of them being only Cheng; Due to cost pressure, the starting rate of downstream weaving is lower

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