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CSC Futures: PTA morning comment on September 23

PTA rose and fell on September 22, closing below the important support level of 6800 yuan

the experiment is no problem. In the next few years, the PX price of travel raw material will fall to 866 US dollars/ton, which will further weaken the cost support of PTA. However, the PTA production profit is still rich (about 1000 yuan/ton of markets in Southeast Asia, Indian subcontinent, Latin America and the Middle East) after it can not be added, resulting in a high PTA production load, which will greatly suppress the spot market. In addition, the downstream polyester market continued to decline, and inventory pressure further appeared

on the whole, without the support of the sharp rise in international crude oil, PX prices are difficult to rebound significantly under the condition that PX supply at home and abroad is very sufficient, and downstream buying will also continue to decline due to the impact of de stocking of the textile industry. It is expected that PTA will continue to adjust weakly in the aftermarket, with the support level below 6400 yuan. It is recommended to continue to hold short orders in the early stage

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