According to the Commodity Market Analysis System of Shengyi Society, the overall trend of the domestic PTA spot market in June showed a fluctuating upward trend. As of June 29th, the average price of PTA in the East China region was 5084 yuan/ton, an increase of 2.4% from the beginning of the month. At the beginning of the month, PTA maintenance units were successively restarted, and the supply continued to increase. However, crude oil remained strong, and PTA slightly fell. In the middle of the month, crude oil prices rose significantly, boosting PTA prices. In the latter half of the year, crude oil experienced a sharp decline, and the PTA market followed suit.

Looking at the future, in terms of supply, the current industry operating rate is around 78%, and there are plans to restart in the future, which will increase supply.
The crude oil market has experienced significant fluctuations in oil prices due to the situation in the Middle East. The current geopolitical situation has significantly eased, and market concerns have been alleviated. Therefore, support for oil prices has weakened, but there are still many uncertainties. As of June 26th, the settlement price of international crude oil futures for WTI crude oil futures in the United States in August was $65.24 per barrel, and the settlement price of Brent crude oil futures in August was $67.73 per barrel.
The downstream polyester industry is experiencing a decline in load, and some short fiber factories plan to reduce production and undergo maintenance after July. It is expected that the industry’s supply will significantly decline. Terminal textiles have entered the off-season of consumption, with insufficient order follow-up. In addition, recent fluctuations in raw material prices have led to relatively cautious procurement, maintaining a focus on essential needs procurement.
Business analysts believe that the market is still concerned about the fragility of the geopolitical situation, insufficient cost support, and weak supply and demand fundamentals under the traditional consumption off-season. Therefore, the PTA market will mainly consolidate weakly in July.