The polyester industry chain was generally in a downturn last week. Among them, staple fiber prices continued to fall, TA prices consolidated at a low level, and EG prices rebounded after falling. After the domestic epidemic is gradually brought under control in September, terminal demand is expected to gradually return. However, it will take time to transmit upwards to polyester and TA MEG, and it is expected that the weak pattern will continue this week. Among them, EG may continue to be stronger than TA. Continue to pay attention to the arbitrage strategy of long PF and short TA.
PTA: Consolidation at a low level during the week, a slight increase and then a fall. Basis and monthly differences continue to weaken. On the supply side, the start of Yisheng New Material 1# device gradually stabilized, and the start of the device slightly increased to 79%. However, the start of polyester production is still low, and there will be joint maintenance by manufacturers next week. In addition, the production and sales of filaments during the week were only 2-3%. Therefore, it is difficult for polyester plants to have stockpile demand, and PTA will continue to stay weak.