US Crude Oil Futures Continue To Rise, PTA Will Still Go Up

futures market

Volatility has been slightly adjusted, but overall the market performance is relatively strong. At present, the mainstream trade negotiations in East China's domestic market remain at 11650-11700 yuan / ton, and Taiwan and Korea's sourcing negotiations are at 1510-1515 US dollars / ton and 1490-1495 US dollars / ton respectively, although downstream manufacturers are buying in the market, but the overall atmosphere is still dominated by wait-and-see.

production and marketing

Sluggish, yesterday's futures so great, polyester production and sales fell again, the stock index suddenly increased, only to polyester POY to see to 13.2 days or so.

And downstream polyester polyester profits further decline.

PTA futures

The main influencing factors are cotton and financial attributes, and spot has little impact on them.

Zheng cotton futures continued to rise in volume, we think that cotton is still likely to continue to rise today, coupled with the surge in crude oil yesterday, PTA is expected to continue to rush.

Because of the short term demand and poor profit in the downstream, we think PTA may be resisted near the previous high point.

We believe that the trend of PTA in March this year is close to that of the same period last year, that is, high and broad shocks.

In the short term, PTA still has upward momentum.