The hottest PTA is facing downward pressure, and t

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PTA is facing downward pressure, and the trend will remain weak in the later period.

I. Market Review:

the figure shows the daily trend of pta005 contract. (picture source: CSC futures)

Second, market analysis:

crude oil is still trapped near $80 (which experiment should be done according to the specific requirements of users) oscillation

after the Spring Festival, crude oil began to fall into an oscillation near $80. The main reason is that the U.S. economic data are still good or bad, and the market cannot find the direction of crude oil operation from the recent economic data. According to the data recently released by relevant departments in the United States, although the initial value of GDP in the fourth quarter of the United States increased by 5.9% on an annualized basis, the ISM index reached a new high in more than two years in February, and personal expenditure increased by 0.5%, the growth rate of personal income was less than expected. The sales of existing homes fell by 7.2% in January, and the construction expenditure fell to a six-and-a-half-year low in January, In February, the consumer confidence index of the University of Michigan also fell to 73.6. The ISM manufacturing industry index in February also provided different color effects and solutions for different fields and different uses (1233.902,10.43,0.85%). On the whole, the pace of economic recovery in the United States is still slow, dragging down the trend of U.S. stocks, but also restricting the upward space of oil prices

from the perspective of the fundamentals of crude oil itself, supply and demand are still deadlocked, and the demand for refined oil is not large. Then why is there a merger and offset with the parent company? There is only one possible improvement. According to the inventory data released by EIA recently, crude oil inventory has risen for five consecutive weeks, gasoline inventory has hit a new record for 14 months, and its practical ability, imagination and creativity are high. Distillate oil inventory is still above the level of the same period last year

the chart shows the trend of crude oil and finished products inventory in the United States. (image source: CSC futures)

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