In the past week, the domestic PTA spot market price has slightly strengthened, with an average PTA market price of 6204 yuan/ton in East China as of September 11, an increase of 0.49% compared to September 5. PTA construction still maintains a high level of over 80%, with ample liquidity in the spot market. Recently, some factory installations have experienced load shedding or short shutdowns.

Thanks to expectations of supply tightening in Saudi Arabia and Russia extending production cuts, recent oil prices have been operating at high levels. As of September 11th, the settlement price of the US WTI crude oil futures main contract was at $87.29 per barrel, while the settlement price of the Brent crude oil futures main contract was at $90.64 per barrel.

In terms of PX, the market negotiation atmosphere has improved. The operating rate of domestic PX is over 70%, and the supply is normal, but maintenance of overseas devices is planned. At the same time, there is strong support on the cost side, driving up PX prices. As of September 11th, the domestic PX factory price was 9300 yuan/ton, an increase of 2.20% compared to early September.

PTA suppliers ship normally, while intermediaries and polyester maintain their demand. As the market enters the “Golden Nine” consumption peak season, terminal orders in the textile industry have rebounded, and the operating rate of polyester factories remains at a high level of nearly 90%. Although the sales situation is good, the current peak season demand is gradually releasing, and it is difficult for terminal demand to further increase.

Analysts from Business Society believe that the crude oil volatility is relatively strong, and the cost side support is still acceptable. The PTA maintenance device is experiencing short shutdowns and the demand is gradually fulfilling during the peak season, and it is expected that the short-term PTA price will maintain a fluctuating and rising pattern.