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Zhonghui Futures: international crude oil rose sharply, and PTA futures market rose and fell

in PTA futures market today, the main contract ta901 opened the limit, and opened the session, but the strength of the short side was insufficient, and many parties were strong, closing at the limit board, closing at 4860, up 188

main factors:

1 On the upstream side, due to the signs of OPEC production cuts stimulating buyers, the exchange rate of the US dollar against the euro began to decline after strengthening for three consecutive trading days. On Tuesday (November 4), the price of crude oil futures on the New York Mercantile Exchange (NYMEX) closed up to a two-week high, and the price of crude oil futures in December closed up 6.62 US dollars or 10.4% to 70.53 US dollars per barrel, the first time it closed above 70 US dollars per barrel since October 21, London Intercontinental Exchange (ice) December Brent crude oil futures closed up $5.96 to $66.44 a barrel. In terms of PX, the Asian market price fell by US $5 to close at US $per ton FOB South Korea, and the European market closed steadily at US $per ton FOB Rotterdam

2. The U.S. presidential election boosted the rise in oil prices, and the market expects the new government to improve the U.S. economic situation, thereby improving the situation of reduced oil demand. However, due to many factors affecting crude oil price changes, the current oil price trend is still uncertain. On Wednesday (November 5), when everyone is not using machines, the US energy information administration will release the report on the inventory and supply and demand of petroleum special engineering plastics for the week of October 31. According to the average forecast of analysts surveyed by Dow Jones newswires, as of the week of October 31, the US crude oil inventory increased by 1.2 million barrels, gasoline inventory decreased by 500000 barrels, distillate oil inventory increased by 1million barrels, and the refinery operating rate increased by 0.4% to 85.7%

3. Downstream demand shows signs of improvement with the general rise in polyester product prices. The polyester filament market has rebounded significantly recently, and under the psychological effect of buying up rather than buying down, the market trading volume has increased significantly, the production and marketing rate of downstream spinning manufacturers has increased, and the demand for PTA is expected to pick up. In addition, boosted by the sharp rebound in international oil prices, the PTA market is expected to stop falling and stabilize. If the international oil prices can continue to rebound, the PTA market will also follow the rise

4. From the point of view of the market, the strength of many parties is very strong. From the point of view of the heavy and large-size jaw funds adopted by the main force, many parties began to increase their positions in a large amount, boosting the market in the day. Zheng Shangsuo registered warehouse receipt 26291

based on the above analysis, the medium and long-term upward trend needs the cooperation of long-term news. At present, it is recommended that investors still focus on intraday operation, and it is not suitable to hold warehouse receipts in the medium and long term

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