Haitong Futures: Cost increases combined with maintenance season, PX prices surge significantly

On one hand, PX enters the maintenance season, and PX supply gradually declines; on the other hand, multiple PTA units restart, increasing PX demand. Against the backdrop of reduced supply and increased demand, coupled with the strong rise in crude oil prices on the cost side, PX prices are supported to rise sharply; in the late trading session, the market suddenly received news that Iran stated it would not block the Strait of Hormuz, causing prices to retreat from high levels. Due to the ongoing war, crude oil prices are expected to fluctuate significantly, which will lead to large swings in PX prices. (Haitong Futures)

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