Today, the PTA market fell slightly, futures TA1501 fell slightly, the spot quotation was stable, but the buyer was afraid to fall and wait and see. The United States intends to suppress Russia by low oil prices. Saudi Arabia is interested in lowering shale oil production by low oil prices. So the United States acquiescence low oil prices, Saudi Arabia and other major OPEC oil producing countries to maintain normal production, international crude oil supply is stable, crude oil prices are temporarily low, and the air chemical market. PTA factory production loss, the enthusiasm for PX procurement is not high, in October PX ACP price $1210 / ton, converted PTA cost 6661 yuan / ton, higher than PTA factory settlement Price 561 yuan / ton, resulting in a large loss of production in the PTA plant, so some 11-12 PTA factories will stop. At present, Shanghai Ya Dong petrochemical, Jiangyin Hon bang and Hengli Petrochemical are stopping or planning to stop. The PTA plant operating rate will drop, PX will just need to cool down, and PX will fall down. Polyester plant has experienced a terminal demand for replenishment, and its production and sales have gradually dropped, and PTA spot purchases are still negative. On the whole, the market lacks good, and the short term PTA market is expected to be weak.

　 The ICE cotton boom in October 29th was aided by technical signals and grain market rally.

The ICE cotton futures jumped more than 2% on Wednesday to a three week high, prompting traders to return short positions due to technical signals. grain Strong markets also provide support.

The most active ICE-12 month cotton hit a 65.99 cent high, rising 0.88 cents, or 1.4%, at 65.35 cents a pound.

After the announcement of the US Federal Reserve (/FED) policy statement, cotton was cut down during the index period. The Federal Reserve ended its monthly debt purchase plan on Wednesday, and hinted that despite the signs of slowing economic growth in many countries around the world, confidence in the recovery of the US economy along the established track will be achieved.

US soybean meal jumped about 7%, forcing investors to make up their short positions because of the slow start of harvest. Soybeans and other grain markets usually boost cotton prices. market 。

Traders said that the price rises through 64.65 and 65.65 cents and other key levels triggered by the stop loss buying during the cotton combustion period.