Crude Oil Fell Nine Days PTA Continued Callback

< p > recent crude oil has continued to fall, pressing PTA industry chain.

PX enterprises are now profitable. New capacity will be launched at the end of 7.

PTA 1501 weak contract, indicating that the market is still not optimistic about the market outlook.

On the operation, the 1409 contract is waiting for the callback to end.

< /p >

< p > crude oil futures continued to decline on Wednesday, due to reports that "a href=" http:// "www.91se91.com/news/index_c.asp" > Libya < /a > resumed crude oil production, and the US inventory report was empty and suppressed the market.

NYMEX crude oil futures contract in August fell $1.11, or 1.07%, at $102.29 a barrel.

Brent crude futures fell $0.66, or 0.61%, to $108.28 a barrel.

< /p >

Data released on Wednesday < < p > > a href= "http:// www.91se91.com/news/index_c.asp > >" energy data association "/a (EIA) show that as of July 4th, the US crude oil inventories decreased by 2 million 370 thousand barrels to 382 million 565 thousand barrels in the latest week.

During the week, stock of distillate oil, including heating oil and diesel, increased by 227 thousand barrels to 121 million 768 thousand barrels.

< /p >

< p > US gasoline stocks increased by 579 thousand barrels to 213 million 432 thousand and 100 barrels.

Cushing crude oil in Oklahoma increased by 447 thousand barrels to 20 million 923 thousand barrels.

As of July 4th, the US refinery capacity utilization rate was 91.6%, compared with 91.4% in the previous week.

< /p >

< p > weekly oil imports increased by 20 thousand barrels to 7 million 285 thousand barrels per week.

Crude oil daily processing increased by 34 thousand barrels to 16 million 252 thousand barrels.

< /p >

< p > > East China < a href= "http:// www.91se91.com/news/index_c.asp" > PTA < /a > market quotation slipped to 7500-7530 yuan / ton to nearby, less delivery, wait and see mainly, sporadic in the vicinity of 7350-7400 yuan / ton, negotiation maintained at 7400-7450 yuan / ton to around.

< /p >

< p > related links: < /p >

Since P July, the 1409 main contract of domestic PTA has experienced ups and downs.

In July 1st, PX dropped more than 50 U.S. dollars per ton. The next day, the domestic PTA main 1409 contract was closed to the limit, and then continued to rise from low to 7300 yuan / ton.

In the two trading day of this week, the 1409 contract was adjusted downward again, and it fell through 7000 yuan / ton on Tuesday.

However, I believe that in the case of tight supply of PTA, low inventory and large base, there are still many opportunities for bargain hunting in the late stage.

< /p >

< p > PTA the overall supply is tight < /p >.

Since May this year, the main PTA production enterprises in China have taken measures to limit production and protect prices, which is actually a kind of helpless action.

The industry alliance strictly controls the bottom line of the 70% operating rate. Until now, the loss trend of enterprises has been effectively curbed.

Affected by the temporary parking of Honggang petrochemical and Ningbo Taiwan chemical facilities, the domestic PTA industry's overall operating rate dropped to a low level of 55% on Friday.

Although the two sets of equipment resumed operation last weekend, the PTA industry started to operate at a low level of 65%, but the average operating rate of polyester in the near future is about 73%.

Combined with the view, the current domestic PTA supply is still in a tight situation.

< /p >

< p > in the short term, the tight supply pattern of PTA will still support the spot market. Later, we need to pay more attention to the start-up of PTA devices.

< /p >

< p > PTA inventory effective digestion < /p >

Since P reached a record high of nearly 2 million 300 thousand tons in February this year, the social stock of domestic PTA has been declining, and it has dropped to about 1 million 240 thousand tons by the end of June, reaching a new low of nearly a year and a half.

It is precisely because of the effective digestion of social inventory, PTA production enterprises can control the starting rate to spot prices.

< /p >

Besides P, the PTA warehouse receipt of Zheng Shang has also dropped sharply from its historical highs.

In March 20th, the amount of registered warehouse receipts reached 78549, but by July 8th, the volume of warehouse receipts had dropped to 2381.

From the perspective of social inventory and exchange warehouse receipts, PTA inventory has been effectively digested.

< /p >