The source of PTA is oil, and the rise of oil will transfer the cost to the downstream, which will directly increase the cost of PX, thus affecting the production cost of PTA.
The downstream product of PTA is polyester, which is the raw material of textiles together with cotton. They are an alternative relationship, and their price relationship will affect their consumption in textile ingredients, thus affecting the demand for PTA.
China is the largest producer and exporter of textiles. The appreciation of RMB will reduce the export competitiveness of textiles, and the textile market situation will in turn directly affect the development of chemical fiber industry and upstream PTA industry.