The hottest southwest futures lacks the support of

2022-08-05
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Southwest Futures: lack of support from good news, weak PTA rebound

pta: the manufacturing index released by the American Institute of Supply Management (ISM) in October fell to the lowest level in 26 years to 38.9, far lower than the estimated 41.5. At the same time, JPMorgan Chase announced that the global manufacturing purchasing managers' index (PMI) fell to a record low, shrinking for the fifth consecutive month. These data show that the signs of global economic slowdown are increasing, which undoubtedly makes investors more worried about the demand for crude oil. The test report can be designed and exported to excel by themselves. As a result, NYMEX crude oil futures fell by nearly $4 last night, to $63.91/barrel in technical specification for lightweight aggregate concrete JGJ 51 ⑵ 002. Today, PTA jumped short and opened low. Driven by the bulls, it went up all the way, reaching a maximum of 4722 yuan. However, due to the suppression of the 5-day moving average, the rise was weak. After several efforts, it finally failed and fell back slightly. At noon, it closed down at 4638 yuan by 1.02%. PTA's fundamentals have hardly changed much. The falling trend proposed by zhengyueming, the raw material Px, has not changed, which has greatly reduced the market's confidence in PTA, while the spot price has slightly stabilized. Today, China National fiber offered 5200 yuan, up 100 yuan from yesterday. The downstream polyester market remained in a weak and stable state, and the production and sales recovered slightly on the same day, but the inventory remained unchanged. On the whole, PTA is still in the decline channel. However, due to the volatility of the international crude oil market, it is recommended that investors pay attention to their positions and should not continue to expand their positions at a low level

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