Followed By Crude Oil Decline &Nbsp; Zhengzhou PTA17 Day Fell Slightly.
Zhengzhou
PTA1101 contract fell 0.15% on 17 days, at 7892 yuan per ton, due to a sharp decline in crude oil and
Downstream demand
Slow recovery.
New York commercial Futures Exchange (NYMEX) October crude oil futures settled down 1.45 US dollars or 1.91%, at 74.57 US dollars per barrel.
Hurricane Carle formed in the south of the Gulf of Mexico. The oil drilling platform did not report losses. The news failed to significantly boost the oil market.
The Federal Reserve Bank of New York announced that the US Federal Reserve Bank of New York September manufacturing index unexpectedly dropped to the lowest level in more than a year.
Crude oil market
Constitute a heavy pressure.
The US crude oil pipeline supplier said it is preparing to restart the pipeline safely and further weaken the support of crude oil.
Falling crude oil will cut chemical costs and adverse future prices.
In terms of PTA, Asia's PX rose 2 US dollars to 970 US dollars per ton on the 16 day, and the cost of PTA was 6387 yuan / ton.
The operating rate of the PTA plant was 94%, while that of the downstream polyester plant decreased to 81.6%.
PTA factory stock for 0-4 days, polyester factory stock for 12-25 days.
The pressure of recent centralized power cuts has gradually eased.
On the one hand, the Ministry of industry and Commerce believes that the practice of centralizing power restriction is not appropriate, and will sum up experience so as to normalize, institutionalize and standardize energy conservation work.
The real power restriction measures eased in the Ministry.
On the other hand, in some areas, the strategy of self purchasing generators is used to restore production, which has contributed to the recovery of the rigid demand in the downstream of PTA.
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