The hottest PTA morning review on May 5 is still w

PTA morning review on May 5: the weakness is still PTA or continues to bottom out

yesterday, the main contract of PTA futures 1009 opened at 8372 in the morning, which plunged sharply and fell in shock. Although the downstream demand has warmed up, the lower support is not very significant; While the impact of crude oil slump and liquidity tightening is great, PTA is expected to remain weak in the short term, and investors can patiently wait for the bottom to be proved

upstream, NYMEX crude oil futures fell 4% on the 4th, and the settlement price of light and low sulfur crude oil futures contract in June fell $3.45 to $82.74 a barrel, ending the previous four consecutive trading days of gains; Although the oil price on the 4th only hit the lowest level since April 27, it was the largest one-day decline since February 4. The settlement price of ice Brent crude oil futures contract fell $3.27 to $85.67 a barrel, down 3.7%, the lowest settlement price since April 22, and also the largest one-day percentage decline since February 4. The oil price fell sharply from the high of $87.15 per barrel since October 8, 2008, which was hit in the session on the 3rd, as weak demand triggered traders' concerns about the rise in U.S. crude oil inventories

the euro fell to a 12-month low against the U.S. dollar on the 4th, and the auto industry is bound to develop rapidly. Investors are worried that the Greek debt crisis may spread to other countries in the euro zone that are in financial difficulties, which has prompted market participants to buy safe assets

investors are worried that the problem of Greece will spread to Spain and Portugal, two euro zone countries with the same financial situation and weak economic growth. The euro fell 1.4% against the US dollar on the same day

the expectation that the US economy will rebound further also pushed up the exchange rate of the US dollar against other currencies, and the US dollar index hit a 12-month high. Strong US economic data strengthened expectations that the US Federal Reserve (FED) might tighten monetary policy before the European Union and Japan

on the downstream side, the semi gloss slicing market in Jiangsu and Zhejiang regions yesterday was calm, and the wait-and-see atmosphere was still strong. The quotations of mainstream factories were mostly maintained at the pre Festival level, and the mainstream negotiations were maintained at the yuan/ton (cash) level. The market situation of Jiangsu and Zhejiang polyester short-term is weak and downward, and the market price is still in chaos. Some manufacturers have reduced their quotations, and the negotiation is about 10560 yuan/ton, and the transaction atmosphere is light. The production and sales of polyester yarn in Jiangsu and Zhejiang provinces were weak during the festival. Today, the overall stability of Jiangsu and Zhejiang polyester is dominated, and there are still sporadic price increases for some popular products, and there are concessions in the negotiation of unsalable products. At present, polyester POY mainstream negotiation is yuan/ton, polyester FDY is around 127 special size 00 yuan/ton, and polyester DTY is around 1 yuan/ton, which uses servo system and ball screw

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