The hottest PTA morning review crude oil, US cotto

PTA morning review: crude oil, U.S. cotton all rose, PTA falling space is limited

Zhengzhou PTA futures closed slightly lower on the 14th. The main 1109 contract closed at 9372 yuan/ton, down 36 yuan/ton. PTA fell yesterday, crude oil fell again, the upstream PX continued to be weak, and it was difficult to find cost support for the futures price. The new production capacity has been put into operation one after another, and the cotton price has weakened, adding negative pressure to PTA. However, the short-term downstream polyester production and sales turned better, supporting the recent PTA consumption. Domestic CPI remained high in May, and the central bank raised the deposit reserve ratio, easing the pressure of interest rate hikes. Both crude oil and American cotton rose overnight, and it is expected that the space for short-term PTA decline will be limited

crude oil futures on the New York Mercantile Exchange (NYMEX) rebounded sharply on the 14th, as positive economic data from the United States and China eased some concerns about global oil demand. The settlement price of NYMEX light and low sulfur crude oil futures contract in July rose $2.07, or 2.1%, to $99.37 a barrel. Ice July Brent crude oil futures rose by about $1.06 to $120.16 a barrel, or 0.89%, to improve the effectiveness of circulation

ice cotton futures closed higher on the 14th, driven by commercial and investor buying. Analysts said that the market believed that there would be buyers for the contract in July in recent months when it was delivered later this month, so the contract in that month was boosted. On the 13th, the closing price of Asia PX was 1419 US $50/ton (FOB Korea); 1439.. US $50/ton (CFR Taiwan), the price fell by US $9 compared with the previous day

in terms of spot goods, the East China PTA spot market is still flat, the price is basically stable, the offer is yuan/ton, the offer is very few, the market is still a buyer's market, the firm offer is about 9400 yuan/ton, and there are few negotiations. The market situation of imported goods is flat and stable. Taiwan's shipping and bonded goods offer us $1200/ton, the negotiation is around us $1190/ton, South Korea's shipping and bonded goods offer us $1190/ton, and the firm offer is around us $1180/ton. Market participants are more wait-and-see, the offers are scarce, and the firm offer is light

downstream: the market price of Jiangsu and Zhejiang polyester staple fiber continues to rise, the manufacturer's quotation center moves up 150 yuan/ton, and there are few transactions. At present, the mainstream quotation of 1.4d*38mm direct spinning polyester staple fiber market is 1325. The cost of degradable substitutes is high yuan/ton, and the transaction center is yuan/ton. The downstream demand is stable, the spot trading volume of staple fiber fabric is general, and the order delivery volume is limited. Polyester prices in Jiangsu and Zhejiang regions are mainly stable, and some structural increases are still expensive. Supported by tight inventory, the production and sales of some varieties are still good

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