PTA：SHORT PTA01 LONG PF01
PTA: There is a short-term rebound, but the trend is still weak. 1-5 reverse sets of positions take profit and lighten up. The current PTA valuation level is moderately low, the driving force is still downward, and it is in a volatile market in the short term. The cost of PTA fell rapidly, and the recovery of PTA processing fees led to an increase in the operating rate. On the demand side, polyester factories currently have high inventories and low profits, the start-up load further declines, and the supply and demand of PTA shrinks. From July to August, it will gradually turn into a warehouse-accumulated pattern. Before the start of polyester factories is not significantly repaired, the drive of PTA is still downward. In terms of trade pattern, the supply of goods is concentrated in the hands of mainstream suppliers, and the strong basis pattern continues, resulting in unilateral PTA still in a volatile market pattern. Not chasing short-term, the trend is still weak.