According to the price monitoring of the business club, the domestic PTA market maintained a strong rise, at a high level in three years. As of June 8, the average market price was 7726 yuan / ton, up 6.81% over the previous day and 65.20% year-on-year.

The OPEC production increase plan did not effectively improve market expectations. Crude oil prices continued to run at a high level, and Brent crude oil prices rose to a high of $120. PX supply side reduced concerns and PTA cost support was strong.

In addition, the low processing cost has forced the PTA plant to increase maintenance. Although some units have been restarted recently, it is still relatively low compared with the same period last year. The current industrial operating rate remains around 73%. With the acceleration of the resumption of work and production of the downstream polyester plant, the start-up has increased slightly, and the terminal demand has improved. Therefore, there are signs of phased marginal improvement in PTA supply and demand.

Business analysts believe that the short-term PTA price will continue to strengthen under the logic of rising costs and improving demand month on month.