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CSC Futures: PTA morning comment on March 12

PTA fell sharply under the pressure of CPI data

overnight, crude oil closed above $82, and the U.S. trade deficit unexpectedly narrowed in January, but the decline in the number of initial jobless claims was less than expected, which failed to provide upward momentum for oil prices, and the higher than expected CPI data in China also put pressure on the market. The market is concerned about the OPEC meeting to be held next week, but there is no sign that OPEC will change its production target. Affected by the higher than expected CPI data, PTA fell sharply, with positions reduced by more than 10000 hands

in terms of upstream raw materials, PX prices in Asia rose $5 to $985 CFR South Korea. In terms of downstream polyester, the Jiangsu and Zhejiang polyester market is deadlocked, and mainstream enterprises are mostly flat, with light trading atmosphere in the morning, and then click positioning. Jiangsu and Zhejiang 1.4d polyester short market has a strong wait-and-see mentality, and the atmosphere of early trading is weak

affected by sufficient market supply, PX has recently formed wear below $1000. After completion, it will become an important starting point for our city to build a high-end aluminum based new material industrial base. There are two kinds of fluctuation trends in measurement methods. However, with the continuous rise of crude oil, PX may return to $1000 in the near future, which may form a certain cost support for PTA. The downstream polyester is also slightly deadlocked, and the inventory of polyester filament is still high. Pt should stop operation in time and get in touch with technicians in time. A spot has been oscillating around 8000 yuan. While crude oil remains strong, PTA is expected to remain an oscillating trend in the near future. Short term trading is recommended

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