Sublime China Information (SZ:301299) Zheng Quan Shi Bao Wang·2025-08-25 02:14Core Viewpoint - The recent increase in PTA futures prices in the domestic market is attributed to inventory reduction expectations and cost support, with the main contract reaching a peak of 4902 yuan/ton as of August 25 [1] Group 1: Market Dynamics - The PTA spot market has risen to a monthly high in late August, driven by inventory reduction expectations and cost support [1] - The restart of a 2.2 million ton PTA facility in East China has been followed by another shutdown, while a 5 million ton PTA facility in South China is also undergoing unplanned shutdowns, leading to a decrease in estimated PTA production to around 6.15 million tons for August [1] Group 2: Production and Demand Outlook - Current PTA production is experiencing losses, with strong expectations for equipment maintenance and repairs [1] - There is an anticipated recovery in demand during the "Golden September and Silver October" period for downstream products [1]