The market reported that the PX unit's burden has decreased, and PX and PTA futures night trading have increased significantly.
Yesterday, the market spread news of a decrease in load for the PX unit, coupled with strong oil prices, leading to a sharp increase in PX and downstream related products in the industry chain. The night market continued to rise, with the cash and monthly differentials strengthening simultaneously. Both PX and PTA weekly loads increased simultaneously, but last week's large sales of filament yarn led to a significant inventory reduction for companies. It is expected that the operation of polyester filament will be maintained after the inventory reduction, and bottle flakes will likely become the main force for production cuts in July. If raw material prices continue to rise, polyester may once again respond with load reductions. In the short term, the market is biased towards strength, but there is also potential for bearish factors to accumulate, posing risks of a decline in the medium term.
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