Core Viewpoint - The domestic futures market in the energy and chemical sector showed significant gains, with PTA futures experiencing a slight increase of 1.27%, reaching 4642.00 yuan/ton [1] Macro Factors - The U.S. manufacturing index has declined for 18 consecutive months, coupled with a strengthening U.S. dollar and falling international oil prices, which are impacting the polyester market [1] Supply Side - Yisheng Dahuacheng has slightly reduced its production to 375 million tons, adjusting PTA load to around 78% - Dushan Energy's Phase 4 with a capacity of 300 million tons has started production in October, with both lines currently operational - In November, more PTA maintenance is expected than restarts, with planned maintenance at Honggang Petrochemical (2.5 million tons), Sichuan Energy Investment (1 million tons), and others, while Dushan Energy will halt 2.5 million tons [1][1][1] Demand Side - Polyester load remains stable, with a significant recovery in the weaving operating rate of terminal enterprises in the Jiangsu and Zhejiang regions - Downstream spinning and weaving factories are further replenishing inventory, leading to increased production and sales of polyester filament [1][1] Market Outlook - Despite delays in the commissioning of new PTA facilities by Dushan Energy, supply pressure has eased - The demand during this year's polyester peak season is below expectations, and U.S.-China tariff issues are causing cautious inventory stocking among downstream players, leading to heightened market concerns - Short-term PTA prices are expected to follow cost fluctuations [1][1][1]