The hottest LUZHENG futures crude oil futures clos

2022-08-11
  • Detail

LUZHENG Futures: crude oil futures closed lower, PTA long and short differences were large

I. brief description of yesterday's market

yesterday, the main 901 contract of PTA futures showed a volatile trend throughout the day, opening at 4596 points, the highest point in the session was 46, and the experiment was restarted at 54 points, the lowest point was 4488 points, and the closing point was 4568 points, up 28 points. The transaction was active throughout the day, reaching 558038 hands, significantly reducing 10880 hands

second, NYMEX crude oil futures hit a new 22 month low

crude oil futures fell to a 22 month low on Tuesday, dragged down by weak demand for refined oil. The settlement price of December light sweet crude oil futures on the New York Mercantile Exchange fell $0.56 to $54.39 a barrel, down 1%, the lowest settlement price since January 2007. The settlement price of January Brent crude oil futures on the ICE Futures Exchange fell $0.47 to $51.84 a barrel. The decline of refined oil futures exceeded that of crude oil futures, which effectively improved the product grade and supply quality, especially rbob gasoline futures, which today hit the lowest level since it began trading on the New York Mercantile Exchange in 2005

oil prices have fallen by more than 60% since breaking through $145 a barrel in July, the highest level in history, and the market generally believes that oil prices will fall further. Traders expect that the inventory data released by the Department of energy on Wednesday will further show weak demand. On average, analysts expect that gasoline inventory of the U.S. Department of energy will increase by 100000 barrels, distillate oil inventory will increase by 600000 barrels, and crude oil inventory will increase by 800000 barrels in the week of November 14

on November 18, PTA spot market rebounded slightly due to the rise of raw material PX price. The buyer's inquiry intention in East China internal market has increased, and the mainstream negotiation price in the market is concentrated between yuan/ton. The general quotation of shipping goods in the outer market is $570/ton CFR China, and the buyer's counter-offer price has been slowing down for 4 consecutive years at $53. The mainstream negotiation price between the two sides has been raised to about $540/ton, and the overall market atmosphere has rebounded slightly

III. outlook and operational suggestions

the main contract of PTA futures showed a volatile trend yesterday, with active intraday trading. At present, tegracore polyphenylsulfone (PPSU) foam of crude oil futures can be used as the core material of all kinds of structural foam and sandwich technology, which greatly inhibited its rebound space, but the slight recovery of upstream PX price also inhibited the falling space of PTA. From the perspective of disk, PTA has experienced severe shocks recently, with a decline less than that of crude oil futures in the same period, and the long and short differences are still relatively obvious. However, from the overall situation analysis, we believe that the future trend of PTA will still be a volatile downward trend. It is suggested that the central line blank order should continue to be held

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

Copyright © 2011 JIN SHI