PTA of the hottest southwest futures is struggling

2022-09-22
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Southwest Futures: PTA fought alone, and it was difficult to get rid of the decline

today, PTA continued the previous decline, and the opening was close to the limit (the input power supply must be 3 fire). Press the jog key, and the bulls had little resistance. Then they were sealed above the limit of 5826 yuan, ignoring the support of the 6000 yuan integer level at all. In terms of NYMEX crude oil last night, it continued to decline sharply by 5.2% to $74.54/barrel, a new low in 13 months. The main reason is that it is still worried about the economic outlook, which affects the demand for crude oil. At the same time, the stock market plummeted again, making it difficult for the market's confidence to recover. At the same time, the continuous decline in oil prices has inevitably brought pressure to the PTA raw material PX market. PX has fallen below the threshold of $1000 and $900 all the way. The gauge distance measurement of PTA branch rubber is an important link in the tensile test, and the support is constantly weakening. In terms of spot goods, the decline is still unchanged. Today, the quotation of China National fiber is 6300 yuan. In addition, it is even more difficult to seek support in the downstream industry. The production and sales of polyester products are still poor. Because the panic has not subsided, the decline in prices is accelerating. Coupled with the lack of funds of polyester manufacturers, they are unable to reserve raw materials, which suppresses polyester raw materials. In addition, spinning mills still have inventory pressure, and it is expected that polyester market will still have downward pressure in the future. In general, PTA is difficult to choose reasonable cleaners, packaging materials and other demand support, which will continue to decline in the future. Suggestion: short positions in the early stage can continue to be held

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