The peak of PTA stage has been achieved when the u

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Both the upstream and downstream have put pressure on the PTA stage, and the high point has been achieved.


the crude oil price has broken through the shock platform in the early stage, creating the high point of this round of rebound.

px prices have remained in a weak state this month, and the short-term high point has been basically established.

pta has followed the PX price to continue to decline this month. Under the influence of the downturn in downstream consumption, the downward pressure has increased sharply, and the callback in the future will continue Market review in may

after a strong rebound in April, PTA's rise began to show weakness, in sharp contrast to the rise in April. The highest price of PTA's main contracts this month also failed to break through the 7510 points set at the end of April, showing a situation of gradual decline

after entering may, the bearish atmosphere in the market increased sharply. Although the crude oil price was relatively strong at this time, it still failed to bring any boost to the PTA contract. Under the pressure of the 5-day moving average, the futures price of the main contract failed to show any decent short-term rebound and went down all the way. Until the end of the month, the futures price closed at the low of 6804 points this month, down 508 points from the previous month, reversing most of the increase in the previous month, Its short-term situation is not weak. 4. Experimental steps:

II. Market causes

a market trend initiative factor

looking around the PTA Market Trend in 2009, the most direct impact on PTA is the price trend of its upstream px. As the saying goes, success or failure is also the same. Since the PX price began to rebound from the low point, PTA price has closely followed its rising trend like the shadow of PX price. When the PX price reached the stage top of the rebound since the beginning of the month, PTA price also ended its two-month rebound, showing a weak state of shock and falling

although this month's crude oil price successfully broke through the $60 mark and continued to rise to a new high, this has little impact on PTA price. The reason is that three factors jointly promote it. From soft to hard, on the one hand, due to the rapid rise of PX price in the early stage, PTA price under the strong support of cost rebounded rapidly, which was much higher than the current rebound of crude oil price. On the other hand, due to the significant increase of PX production capacity in June, the market has become more and more enthusiastic about the future PX price callback according to preliminary statistics. Affected by this, PX price has continued to decline in the near future, which is particularly significant for the pressure on PTA price; Third, as the downstream polyester textile industry has entered the off-season of consumption, the higher PTA prices have increased the burden on downstream enterprises, and most enterprises will not choose to hoard the high-priced PTA at this time. Therefore, the reduction of downstream demand will also greatly inhibit the rebound of PTA prices

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