On April 7, according to NBC news, the United States launched about 60 Tomahawk missiles at a large airport in Syria, targeting hangars and aircraft. At least 70 people were killed. in response to the poison gas attack in Syria.
Previously, in response to the suspected chemical weapons attack in Syria on Tuesday, the Trump administration hinted that it may launch military operations against Syria soon, and the action may be taken as soon as Thursday evening local time in the United States.
Crude oil soared, PTA rebounded sharply, and the global market faced violent fluctuations!
As soon as the news came out, the global market caused violent fluctuations, and the price of safe-haven assets rose rapidly. Spot gold rose by US$10 to US$1,263 in the short term, and silver rose by 0.66%. The Japanese yen rose sharply, with USD/JPY now trading at 110.31. Crude oil also responded significantly, with Brent crude oil and WTI crude oil futures both rising by more than 1%. The U.S. dollar index is currently at 100.63.
PTA spot prices also responded quickly at the same time, rebounding quickly after falling sharply by 1.57% overnight. As of 10:30 noon, the main PTA contract 1705 rebounded sharply by nearly 74 points.
One wave after another, polyester factories are taking advantage of the “east wind” to increase prices!
Affected by the recent continued rise in crude oil, many polyester factories have begun to tentatively increase prices recently, with some specifications increasing by around 100-150 yuan. Production and sales have also picked up significantly. This week, the average estimate is around 160%. This emergency has once again caused oil prices to skyrocket, which is bound to further catalyze the rise of polyester raw materials.
The author predicts that domestic polyester raw materials may be boosted by crude oil, which will inevitably cause PX prices to rise in the short term, and PTA prices will also be boosted. Overall, while the fundamentals of polyester have improved recently, there is another “east wind” of emergencies. It is expected that the market for polyester raw materials will improve further!
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