According to the Commodity Market Analysis System of the Business Society, the domestic PTA market has recently shown a slight upward trend after a brief decline. As of July 27th, the average spot market price in East China was 5916 yuan/ton, an increase of 0.33% compared to July 18th.

Cost support remains strong, with Saudi Arabia and Russia further pushing for production cuts, supply tightening expectations remaining unchanged, and a rebound in US gasoline demand, leading to a sustained rise in international crude oil prices. As of July 26th, the settlement price of the main contract for WTI crude oil futures in the United States was $78.78 per barrel, while the settlement price of the main contract for Brent crude oil futures was $82.56 per barrel.

PX oscillates strongly with crude oil, and it is in a cumulative inventory cycle. The domestic PX operating load is low, but the landing of new PTA production capacity on the demand side drives the release of new points, and the supply-demand contradiction has not yet been highlighted. After a slight correction in the domestic PTA market, it maintained a fluctuating upward trend. As of July 27th, the average spot market price in East China was 5950 yuan/ton, an increase of 1.14% compared to July 18th.

Against the backdrop of high raw material prices, downstream yarn factories have low enthusiasm for stocking and are more resistant to the prices of polyester staple fibers, resulting in an increase in holidays. Pure polyester yarn exports continue to be under pressure, and domestic sales are also insufficient, with few orders. The yarn factory continues to lead in shipping and negotiate discounts, resulting in a slight decrease in overall prices. As of July 27th, the average price of pure polyester yarn in the Shandong region was 12675 yuan/ton, a decrease of 125 yuan/ton or 0.98% compared to the beginning of the month.

Analysts from Business Society believe that in the short term, crude oil and PX are still relatively strong, but the PTA plant is restarting, with more load increase and new production capacity released, and the pressure on PTA supply and demand is gradually emerging. At the same time, under the influence of high temperatures in downstream yarn factories, the production is still relatively low, and basic measures to reduce production and maintain prices have been taken, causing a drag on the demand side. In the short term, under the continuous cost push, the price of polyester staple fiber will still be relatively strong.

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