PTA：LONG TA SHORT EG
PTA: PTA cost support is strong, long 09 short 01, long TA and short EG. The main driver of the market for a long time to come is cost. The core problem of the strong product oil has not been resolved, and overseas PX prices continue to maintain a strong pattern. PX prices are still a strong support for PTA. The PTA processing fee has been restored to 500-600 yuan/ton for the first line, but it is difficult to significantly increase the load. The 650,000-ton PX unit of Jinshan Petrochemical was shut down unexpectedly, and the restart is to be determined. The overall operating rate of PTA in July is expected to remain low. The decline in polyester starts is expected to be later than that of TA, so the overall TA is still in a state of tight balance. It is recommended to long 09 short 01, long TA and short EG.