PTA: PTA prices fell sharply at night. Within the day, the spot basis strengthened to around 20 yuan / ton, and the 9-1 price spread also slightly increased. In general, under the expectation of polyester start-up peak season, the enthusiasm of polyester factory for stock preparation has improved, PTA price decline is less than oil price, and processing fee is stable. Under the crude oil price callback, PTA cost suffered. But the follow-up into the validation period of the peak season, focus on polyester start-up and profit inventory level changes.