PTA: In the mid-term, we will continue to treat too much, but the spot is weak, and we need to pay attention to position control for long and positive positions. The spot market is slightly weak. The current PTA processing fee is around 890 yuan/ton, and the profit is good. Benefiting from the pressure of PX's accumulation and expansion, the PX processing fee is only 179 US dollars/ton, and the profit will be transferred to the PTA factory. On the supply side, Yisheng Dalian’s 6-million-ton plant, which had a short-term shutdown recently, restarted, and the 2.5-million-ton plant in East China restarted, and the start-up rebounded. Around 80% of the overall polyester load. After the price increase, TA transactions were relatively weak, and the market acceptance was average. The polyester factory entered the market to sell PTA, and the momentum to continue to rise in stages was slightly weakened. However, the remaining polyester factories have been prepared for approximately 2 weeks, and there is still an expectation of just-needing purchases in the future. Inquiries for orders in the terminal weaving link have begun to increase, and the market is worried that the prices of raw materials will continue to rise, and the transaction situation has diverged. Driven by the cost and supply side, TA prices are expected to remain high and there is a risk of correction in the short term. Hold long position，long PF short PTA.