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: Stay weak. Basis and monthly differences continue to weaken. On the supply side, the start of Yisheng New Material No. 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. Yesterday, the polyester factory promoted price cuts (300-400 yuan, and individual price cuts of 600-700 yuan), but the end purchase enthusiasm was average, and the filament production and sales were 280%, which was lower than market expectations. Staple fiber production and sales are only 60% to 70%. It is difficult for polyester plants to have stockpile demand, and PTA will stay in a weak position.