According to the Commodity Market Analysis System of the Business Society, the domestic PTA spot market has shown a slight decline since September. As of September 5th, the average spot market price of PTA in East China was 6173 yuan/ton, a decrease of 0.09% compared to early September.

Cost side benefits support, supply tightening expectations continue to ferment, boosting the oil market, and international crude oil prices continue to rise, reaching new highs for the year. As of September 4th, the settlement price of the Brent crude oil futures main contract was at $88.55 per barrel, an increase of $0.45 or 0.51%.

PTA’s own supply, affected by the typhoon, gradually restored the 235 ton production capacity in South China, and the domestic device load increased to a high level near 82%. In addition, downstream polyester production has remained stable at a high level of 90%, and the polyester market price has slightly increased. However, the follow-up of terminal demand is weak, and attention needs to be paid to the impact of the Asian Games on polyester and weaving machines in the future.

Analysts from Business Society believe that the current macro atmosphere is favorable for the commodity market. In addition, there are still expectations for Saudi Arabia to implement a production reduction, oil prices remain optimistic, and macro and cost support for PTA. However, there is no obvious drive from supply and demand, and PTA continues to accumulate inventory. The Asian Games may affect downstream polyester production, and it is expected that the PTA market will be weak and volatile.