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Crude Oil Skyrocketing, PX Rebound! Polyester Fell 100

2019/7/11 18:44:00 0

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The US Federal Reserve cut interest rates in July to boost market confidence, and crude oil inventories in the United States decreased for four weeks and fell far beyond expectations. Meanwhile, hurricanes from the United States swept across the energy producing areas. Oil prices rose more than 4% on Wednesday amid the combined stimulus of many favorable factors. PX yesterday rose another 19 U.S. dollars, the recent performance is more powerful, cost side PTA support. Overnight PTA continued to rise, up 2.48%. In terms of macro factors, the Sino US trade situation has eased up, waiting for the revival of foreign trade demand. Short term silk price trend is expected to be volatile, raw material side rebounding or polyester factory will try to raise the price tentatively, but the current market downstream mentality is more tangled, and the follow-up efforts are doubtful. Focus on macroeconomic situation, PTA trend and terminal orders.

10:45 [POY quote] Another factory in Taicang POY Quotation stability 。 Half light 75D/72F reported 9060, 75D/144F 8960, flat 9010, and full dull 75D/72F 9660.

10:35 [PTA offer] Yisheng Petrochemical Today PTA The spot price is 6620 yuan / ton.

10:30 [DTY quote] A big factory in Xiaoshan The offer is raised by 100 yuan. 。 Half light 75/72 light network 11100, 75/144 light network 11300100/144 light network 10650300/96 low elastic 9250.

10:15 [FDY quote] A mainstream factory in Xiaoshan Quotation stability 。 Half light FDY150D/96F report 8700; gloss FDY75D/36F triangulation 9900. 。

10:10 [POY quote] A mainstream factory in Tongxiang The offer is raised by 100 yuan. 。 Semi gloss POY75D/72F reported 8700 9100150D/144F.

10:00 [POY quote] Another POY factory in Tongxiang The offer is raised by 100 yuan. 。 Half light POY75D/72F newspaper 9110150D/288F 8810, flat 8910.

09:55 [DTY quote] A mainstream factory in Shengze The quotation is raised by 100 yuan. 。 Half light POY150D/288F report 8750; half light DTY75D/72F report 11500150D/288F 10500; half light FDY50D/24F 10150.

09:37 [TA1909 early offer] PTA1909 opened at 6134 this morning, the current offer is 6160, compared with the settlement price of the previous trading day. Up 198 yuan (+3.32%).

08:55 [melt cost] In July 10th, the average price of PTA days was 6470 yuan / ton, the average daily price of MEG was 4220 yuan / ton, and the melt cost was 6946 yuan / ton, compared with yesterday. Down 52 yuan / ton.

08:30 [electronic disk quote] Huaxi Village commodity exchange ethylene glycol 1908 night plate closed (0%), closed at 4228 yuan / ton.

08:30 [futures market] Cotton rose 210 yuan (+1.62%) for 1909 nights, closing at 13210 yuan / ton.

08:30 [futures market] PTA futures rose 148 yuan (+2.48%) for 1909 nights, closing at 6110 yuan / ton.

08:30 [crude oil closed] Us WTI crude futures in August closed up 2.60 US dollars (+4.50%), at 60.43 US dollars / barrel for +4.50%. Brent crude futures rose 2.85 U.S. dollars (+4.44%) on Wednesday, at 67.01 U.S. dollars / barrel in September.

08:30 [offshore renminbi] Offshore renminbi (CNH) against the US dollar Beijing time 08:29 reported 6.8729 yuan, intraday trading in the 6.8693-6.8908 yuan range.

08:10 [important news review]

Liu He, the Chinese leader of the Sino US comprehensive economic dialogue, spoke to the US trade representative, Mr. lettse, and finance minister Mnuchin, and exchanged views on implementing the consensus of the two heads of state of Osaka. According to the Ministry of commerce website information, the US government said it would exempt 110 high tariffs from Chinese medical equipment to key capacitors.

The State Council executive meeting decided to further stabilize foreign trade measures, study and continue to reduce the overall level of import tariffs, improve the export tax rebate policy, create conditions to improve the convenience of RMB settlement, and strengthen policy reserves and timely launch.

The Fujian monetary authority will speed up the promotion of capital market guidance and support qualified textile and footwear enterprises to accelerate the listing and financing and refinancing, classify and guide the merger and reorganization of listed companies, promote the role of government investment funds, support more conditional cities and districts, set up government led merger funds, attract private equity funds to participate in the investment and financing docking of Fujian textile and footwear industry, and promote the integration, merger and reorganization of textile footwear companies and upstream and downstream enterprises.

The national energy board will speed up the formulation of the relevant supporting policies for the energy Internet, and actively encourage the qualified regions to carry out the pilot demonstration of the energy Internet according to local conditions, and arrange a number of energy Internet action plans and promote technological innovation.

The three major US stock indexes collectively rose and the index closed to a new high. The Fed's interest rate cut is expected to increase. At the close, the Dow rose 0.29% points to 26860.2 points, and the S & P 500 rose 0.45% to 2993.07 points, while the NASDAQ rose 0.75% points to 8202.53 points.

Fed chairman Powell: since the FOMC meeting in June, uncertainty has continued to put pressure on the economic outlook; trade and global economic growth prospects are uncertain; the US economic outlook has not improved in recent weeks; most members believe that there is a need to relax policy to some extent; there is a risk of inflation weakening, and the risk is more durable than the Fed's current expectations; it is reiterated that the Fed will adopt "appropriate" measures to maintain the growth of the US economy.