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Data as of: 2026-09-30 · Settlement: Exchange settlement (15:00 Beijing close, vs prior settlement)
CZCE.PX深度分析报告 | 偏空:高库存与减仓下跌共振 | 2026-10-08
本报告对CZCE.PX(对二甲苯)方向判定为偏空。核心驱动在于当前库存处于五年同期高位,且主力合约名义持仓大幅减仓,显示多头资金离场意愿强烈。技术面上,价格虽在10月8日大幅反弹,但周线级别仍处于回调趋势中,且20日通道上轨压力明显。供需端,原油裂解价差维持高位但PX自身加工利润承压,叠加宏观预期波动,短期反弹难改中期下行压力。方向失效条件为价格有效突破10022点并站稳,或库存数据显著回落至五年同期均值以下。
This brief is published in Chinese. The English translation is being prepared.
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