PTA: DRIVE DOWN

Replenishment drives a phased rebound

PTA: Basis continued to strengthen to -60 yuan/ton, and the monthly difference also strengthened. The Mid-Autumn Festival and National Day are approaching, and the polyester factory just needs to restock. In terms of market sentiment, the mood of the participants has improved slightly, and the industry has become more bullish. Everyone is optimistic about the traditional peak season expectations. The start of polyester production rebounded slightly to 87.7% (+1.1%). The terminal weaving, printing and dyeing orders are sluggish, and the start-up remains low, worrying about price increases, and the terminal enters the market to make up for the warehouse. Double control in Jiangsu and other places, and limited weaving operations in Suqian, Nantong and other places. The start of looms in Jiangsu and Zhejiang fell to about 60%. Polyester drives down. Sustainability of short-term rises is doubtful.


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