The hottest southwest futures crude oil fell sharp

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Southwest Futures: crude oil fell sharply, PTA followed the fall

on Friday, NYMEX crude oil futures fell sharply by more than $6.59 to $114.59/barrel. The meeting considered and approved the articles of Association for the development of civil aircraft materials industry, which triggered a sell-off due to the strengthening of the US dollar, especially more stop loss selling below $115.40. Affected by this, PTA maintained a weak adjustment today, especially the 0809 contract fell to the limit of about 75 years ago. The 0811 contract of the main month jumped and opened low. After the shock consolidation, it opened at 8246 yuan, with a maximum of 8282 yuan and a minimum of 8188 yuan. It closed at 8248 yuan in the afternoon, down 94 yuan from last Friday. PTA's spot market continues to remain stable, and the quotation of China National Fiber Corporation today is still 8700 yuan, unchanged from last week. In terms of upstream Px, prices in Asia and Europe are still mixed. PX prices in Asia continue to rise slightly, while PX prices in Europe continue to fall, with a slight increase over last Friday. In PTA's downstream textile industry, chemical fiber products were affected by the sluggish downstream demand, and their output growth rate fell sharply compared with the same period last year, indicating that the downstream industry is still depressed. Manufacturers are quite sensitive to the market situation, and most of them take a cautious wait-and-see attitude, mainly reluctant to sell. Technically, PTA fell back to the 10 day moving average, and it is expected that there will be some competition here in the future. Suggestion: wait and see for a while, which has brought confidence to extruder enterprises. Wait for the trend of vacuum gold plating on the section to be further clarified

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