Behind the exchange. Zhengzhou has settled 2 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 3 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 4 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 5 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
Behind the exchange. Zhengzhou has settled 6 trading sessions since 2026-11-02, the newest figure on this page. Treat it as a historical figure, not as today's market.
PTA less the 0.655 tonnes of paraxylene that go into each tonne of it, on the same trading day. The PTA maker's processing spread, and the first link in the polyester chain where oil turns into fibre.
450 CNY per tonne ↑ 73.21%
Settled 2026-11-02
Against a week ago (2026-10-26): ↑ 118.68%
Against a month ago (2026-09-23): ↑ 149.88%
Against a quarter ago (2026-07-24): ↑ 12.08%
What this is not. A gross spread, not a profit. It carries no acetic acid, catalyst, energy or plant cost. When it runs thin, PTA plants cut rates and the PTA price follows paraxylene up rather than absorbing it.
80 observations held, 2026-07-06 to 2026-11-02.
The polyester chain, oil to fibre
Crude makes paraxylene, paraxylene makes PTA, PTA and glycol make polyester. The spreads between the steps show which link is being squeezed. Each figure is the latest its source has published, on its own date.
| Step | Latest | Unit | On | Move |
|---|---|---|---|---|
| Brent crude | 102 | US dollars per barrel | 2026-09-01 | ↑ 15.84% |
| Paraxylene | 9,508 | CNY per tonne | 2026-11-02 | ↓ 2.08% |
| PTA margin | 450 | CNY per tonne | 2026-11-02 | ↑ 73.21% |
| PTA | 6,678 | CNY per tonne | 2026-11-02 | ↑ 0.88% |
| Polyester staple over PTA | 2,876 | CNY per tonne | 2026-11-02 | ↑ 0.43% |
| Polyester staple fibre | 8,586 | CNY per tonne | 2026-11-02 | ↑ 0.73% |
| US dollar in yuan | 6.6483 | CNY per USD | 2026-11-02 | ECB reference rates |
Where these figures come from
- PTA (China, futures settlement) — Zhengzhou Commodity Exchange, contract TA701, observed 2026-11-02. the day's published table
- Paraxylene (China, futures settlement) — Zhengzhou Commodity Exchange, contract PX701, observed 2026-11-02. the day's published table
Read this first. These are settlement prices from the Zhengzhou Commodity Exchange — the Chinese domestic market, in yuan per tonne, for a dated futures contract. They are not Cotlook A, not a world price, and not what a trader paid for a bale this morning. They are carried because China spins more than anywhere else, so the direction is the market’s direction even where the level is not.