PTA-聚酯产业链或联合减产，化工ETF(159870)涨近1%

Group 1 - The PTA industry is experiencing a significant downturn, with a notable demand for improved profitability as the average operating rate has dropped to 78% and the price spread has narrowed to under 100 yuan/ton [1] - The industry is highly concentrated, with six major players holding 74% of the capacity, facilitating discussions for potential joint production cuts to restore processing fees [1] - The PTA and polyester filament sectors are expected to enter a dual prosperity cycle, with the recent anti-involution efforts accelerating the industry's upward trend [1][2] Group 2 - By 2025, the PTA industry will see an addition of 870,000 tons of capacity from three new facilities, with the current cycle of new capacity expected to conclude after the commissioning of a 300,000-ton facility in October [2] - The growth rate of new capacity in the polyester filament sector is projected to be only around 3% in 2026, indicating limited supply growth [2] - The simultaneous supply turning point for PTA and polyester filament suggests a potential recovery for both sectors, supported by joint anti-involution measures [2] Group 3 - The largest chemical ETF (159870) opened with a 0.87% increase, with constituent stocks such as Hengyi Petrochemical hitting the daily limit, and Tongkun and Xin Fengming rising by 6.86% and over 7% respectively [3]