PTA: Short-term rebound, medium-term trend is still weak. Short-term 1-5 turn around to lighten up and take profit. 01 contract empty PTA and more PF continue to hold. The main contract is about to enter the month-changing stage. The 09 contract is still at a discount of more than 200 yuan / ton to the spot. The polyester inventory has fallen rapidly, and the start of construction has rebounded slightly. PTA has a short-term rebound momentum. However, in the medium term, the demand for textile clothing is expected to be pessimistic in the second half of the year, and the terminal orders will continue to be weak. The demand for polyester is expected to be difficult to effectively increase. In addition, the new capacity of PTA on the 01 contract is huge, and in the medium term, PTA will gradually enter the stage of oversupply. Short-term 1-5 turn around to lighten up and take profit. 01 contract empty PTA and more PF continue to hold.