Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Core Viewpoints - Due to some domestic reforming units reducing their loads, the load of PX units has declined. The supply of PTA has contracted, with Ningbo Yisheng Petrochemical Phase 4 reducing its load by 50% until the end of the month. PTA's processing fee has remained low, and industry profits are still constrained by over - capacity due to new device commissioning. The downstream load of polyester has remained above 90%. Despite the end of the "Golden Nine and Silver Ten" period, the demand for textile and clothing is still acceptable. In the later period, the operating rate of PTA may decline further. The rebound in crude oil prices has led to a rise in PTA prices, and bottle chips and short fibers continue to fluctuate with costs [2]. 3. Summary by Relevant Indicators Price Indicators - PTA spot price increased from 4320 to 4370, a change of 50; MEG inner - market price rose from 4075 to 4107, a change of 32; PTA closing price went up from 4414 to 4482, a change of 68; MEG closing price increased from 4004 to 4051, a change of 47; 1.4D direct - spinning polyester staple fiber price rose from 6340 to 6365, a change of 25; short - fiber basis decreased from 218 to 184, a change of - 34; 11 - 12 spread increased from 8 to 10, a change of 2; polyester staple fiber cash flow increased from 240 to 246, a change of 6; 1.4D imitation large - chemical fiber price remained unchanged at 5400; the price difference between 1.4D direct - spinning and imitation large - chemical fiber increased from 940 to 965, a change of 25; East China water bottle chip price increased from 5594 to 5663, a change of 69; hot - filling polyester bottle chip price increased from 5594 to 5663, a change of 69; carbonated - grade polyester bottle chip price increased from 5694 to 5763, a change of 69; outer - market water bottle chip price increased from 740 to 745, a change of 5; bottle - chip spot processing fee increased from 535 to 551, a change of 15.53; T32S pure polyester yarn price remained unchanged at 10280; T32S pure polyester yarn processing fee decreased from 3940 to 3915, a change of - 25; polyester - cotton yarn 65/35 45S price remained unchanged at 16350; cotton 328 price increased from 14530 to 14560, a change of 30; polyester - cotton yarn profit decreased from 1654 to 1626, a change of - 27.92; primary three - dimensional hollow (with silicon) price remained unchanged at 6920; hollow short - fiber 6 - 15D cash flow decreased from 661 to 608, a change of - 53.47; primary low - melting - point short - fiber price remained unchanged at 7310 [2]. Market Conditions - Short - fiber: The main futures of polyester staple fiber rose 78 to 6136. In the spot market, the prices of polyester staple fiber production plants were mainly negotiated, the prices of traders were rising, downstream purchases were few, and the market was mainly replenished through futures - spot trading, with trading volume increasing. The price range of 1.56dtex*38mm semi - glossy natural white (1.4D) polyester staple fiber in the East China market was 6120 - 6460, in the North China market was 6240 - 6580, and in the Fujian market was 6100 - 6400 [2]. - Bottle chips: The mainstream negotiation price of polyester bottle chips in the Jiangsu and Zhejiang markets was 5620 - 5720 yuan/ton, with the average price rising 30 yuan/ton compared to the previous working day. The prices of polyester raw material PTA and bottle - chip futures rebounded, most supply - side quotations increased, the procurement enthusiasm of downstream terminals remained at the rigid - demand level, the market trading atmosphere was average, and the price center of bottle chips moved up slightly [2]. Load and Production and Sales Indicators - The direct - spinning short - fiber load (weekly) increased from 93.90% to 94.40%, a change of 0.01; polyester staple fiber production and sales decreased from 72.00% to 66.00%, a change of - 6; polyester yarn startup rate (weekly) remained unchanged at 63.50%; recycled cotton - type load index (weekly) increased from 51.00% to 51.50%, a change of 0.01 [3]