Supply and Demand - Asian PX supply has increased with overall PX operating rates rising to 69.4% (+1.9%) and domestic PX operating rates reaching 78% (+3.9%) [2] - Demand has also seen an uptick with the restart of 1.2 million tons of PTA capacity from Zhongtai and Honggang, while Jiatuo's 3 million tons PTA unit is under maintenance, leading to PTA operating rates increasing to 77.1% (+0.2%) [2] Market Performance - On May 26, Asian PX prices rose by $8/ton to $834/ton, equivalent to 6905 RMB/ton, driven by crude oil price increases [1] - The spot market remains strong with July and August spot prices showing upward trends, with July at $838 and August at $824 [1] Market Outlook - PX supply is expected to gradually increase due to the recovery of PX profitability and the restart of previously shut-down facilities, while downstream polyester production cuts are being realized, leading to a marginal weakening in PX supply-demand dynamics [3] - Despite the pressure on PX prices, the short-term supply-demand situation remains relatively stable, with tight spot market conditions supporting PX prices [3]