With the advent of gold and silver, this may be a major opportunity for textile people to turn over this year, because from the previous year's data, textile and apparel demand began to improve in September until November to reach the annual peak. September has arrived, the textile market peak season signal to come?

PTA spot prices are at the second highest level in the same period in the past five years

As of August 28, the average monthly PTA processing fee in August was 185 yuan/ton, which was -34% month-on-month and -69% year-on-year. In the past 10 years, the average monthly PTA processing fee has approached 200 yuan/ton several times, and in August 2023, the average monthly PTA processing fee fell below 200 yuan/ton for the first time.

Low processing fees are a disguised form of strong cost support, the direct impact of strong cost support is that the absolute price of PTA is high, the average price of PTA in August is the second highest level in the same period in nearly 5 years, and it is also the third highest price in the average price of the year. In the past 13 years of PTA historical data, PX price and crude oil price have the highest positive correlation with PTA spot price. The low PTA processing fee represents the change in the price difference between PTA spot price and PX price. The monthly average price of crude oil and PX increases more than that of PTA, and the cost pushes up PTA.

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