According to the Commodity Market Analysis System of Business Society, the domestic PTA market has recently experienced a slight rebound, with a market price of 5796 yuan/ton in East China as of January 17th, an increase of 1.36% compared to January 11th.

Since January, there has been little change in the PTA supply side, and the industry operating rate has remained around 82%. With the restart of a 2 million ton PTA plant in South China on January 15th, products have been produced and the industry load has increased to around 84%. The pressure of sufficient supply of goods still exists. But in the future, the expectation of load reduction and maintenance increased, leading to a rebound in PTA prices.

In the crude oil market, the disturbance in the Middle East continues, and the situation is not clear. There is no sign of cooling in the short term, and oil prices still receive significant support. However, the US oil inventory has accumulated, and the market is once again concerned about economic weakness, which has significantly dragged down oil prices. Therefore, under the long short game, crude oil prices are mainly volatile, but there is still support for PTA costs. As of January 16th, the settlement price of the main contract for WTI crude oil futures in the United States was $72.40 per barrel, and the settlement price of the main contract for Brent crude oil futures was $78.29 per barrel. In addition, the downstream polyester operating rate remains around 84%, which is still stronger than expected, and there is still demand for PTA.

Business Society analysts believe that although the maintenance period for the Spring Festival is approaching, the downstream polyester and terminal weaving industries will experience an increase in the decline in operating load, and the demand for PTA will decrease. However, the international crude oil volatility adjustment and the expected decrease in PTA supply have resulted in a decent short-term performance of PTA prices.