Core Viewpoint - The polyester chain is experiencing mixed price trends, with upstream PX and PTA weakening while downstream short fibers remain relatively strong. The overall production capacity utilization rates are under pressure, particularly in the polyester sector, as the textile weaving season enters a low demand period in July [1][2][3]. Group 1: Price Trends - From late June to early July, the polyester chain saw a collective price adjustment due to the ceasefire between Israel and Hamas, with PTA main contract prices fluctuating around 4700 yuan/ton and spot prices in East China at approximately 4835 yuan/ton [1]. - The processing fee for PTA has decreased to around 300 yuan/ton, down from 395 yuan/ton in June [2]. Group 2: Production Capacity Utilization - As of early July, the domestic weekly capacity utilization rate for PX was about 84.4%, while PTA's was approximately 79%, reflecting a decline due to maintenance and reduced production [1]. - The polyester sector's capacity utilization rate was reported at 88% as of early July, indicating pressure from production cuts [1]. Group 3: Supply and Demand Dynamics - The supply of PTA is expected to increase in July, with a projected average capacity utilization rate nearing 82% due to limited new maintenance plans [2]. - Demand for polyester is under pressure, with a slowdown in order growth from weaving factories, leading to a cautious purchasing attitude focused on just-in-time replenishment [3]. - The overall capacity utilization for polyester in the first half of the year remained stable between 87% and 91%, with no significant production cuts observed [3].