Report Industry Investment Rating - No relevant content found Core View of the Report - Domestic PTA installations are gradually returning, leading to an increase in domestic PTA production, a rapid decline in PTA basis, and significant market pressure due to Hengli's concentrated sales. OPEC+ has increased oil production again, causing a sharp drop in crude oil prices and a contraction in the spread between PX and naphtha. Recently, sales and production have weakened, inventory has increased, and the polyester operating load has risen to 91% as the off - season approaches. However, due to the decline in crude oil prices and the weakening of the basis, PTA has shown weak performance [2] Summary by Relevant Catalogs Price Changes - PTA spot price increased from 4525 to 4585, a change of 60; MEG inner - market price rose from 4301 to 4315, a change of 14; PTA closing price increased from 4626 to 4678, a change of 52; MEG closing price rose from 4234 to 4246, a change of 12 [2] - 1.4D direct - spun polyester staple fiber price increased from 6460 to 6500, a change of 40; short - fiber basis decreased from 149 to 83, a change of - 66; 10 - 11 spread decreased from 6 to 0, a change of - 6; polyester staple fiber cash flow increased from 240 to 246, a change of 6 [2] - Polyester bottle - chip prices in the Jiangsu and Zhejiang markets increased, with the average price rising by 55 yuan/ton. The prices of various types of bottle - chips such as East China water bottle - chips, hot - filled polyester bottle - chips, and carbonated - grade polyester bottle - chips all increased by 38 [2] Market Conditions - For polyester staple fibers, the production factory prices were stagnant, trader prices were warm, downstream demand was for replenishment on - demand, and trading volume increased in South China while it was average in other regions. The price ranges in different regions were provided [2] - For polyester bottle - chips, raw materials and futures were in a warm - oscillating state. Driven by costs, suppliers raised their offers, but downstream buying enthusiasm was low, and the market negotiation atmosphere declined [2] Industry Indicators - The operating load of direct - spun staple fibers (weekly) was 94.40%, with a change of 0.01; polyester staple fiber sales and production rate increased from 64.00% to 78.00%, a change of 14.00%; the opening rate of polyester yarn (weekly) remained at 63.50%, with a change of 0.00; the load index of recycled cotton - type fibers (weekly) increased from 51.00% to 51.50%, a change of 0.01 [3]