According to the Commodity Market Analysis System of Shengyi Society, on the 21st, the price center of polyester filament shifted downward. On October 21st, the mainstream polyester filament factories in Jiangsu and Zhejiang, POY (150D/48F), quoted between 7200-7350 yuan/ton, polyester DTY (150D/48F low elasticity), quoted between 8700-9100 yuan/ton, and polyester FDY (150D/96F), quoted between 7850-7950 yuan/ton. In terms of cost, the crude oil market has recently experienced a decline in crude oil prices, and the geopolitical situation in the Middle East is controllable. In addition, the future demand for crude oil market is worrying, which has led to a continuous decline in the oil market; However, the recent decline in US crude oil inventories still provides support for the crude oil market, and overall, crude oil market prices are expected to slightly decrease. Under the traditional peak season, the demand for PTA remains stable. However, the market is concerned about the demand outlook, with weak cost support and many external instability factors. The market lacks directional driving force. According to data from Shengyi Society, as of October 20th, the average spot price of PTA in the East China region was 4912 yuan per ton, a decrease of more than 200 yuan per ton compared to October 11th. The weakening of cost support and the increase in PTA supply and demand are the main reasons for the price decline. The short-term PTA spot market is mainly consolidating weakly. In terms of supply and demand, the demand remains stable during the traditional peak season. With the decline in raw material costs, the terminal market is affected by the mentality of “buying up, not buying down”, and the purchasing willingness is generally low. Confidence in the subsequent market also appears relatively insufficient. Overall, analysts from Shengyi Society predict that the willingness of filament enterprises to ship still exists, and it is expected that the filament market prices will remain stable and fluctuate in the short term. In the game of cost and supply and demand, it is necessary to pay attention to the trend of the raw material market and the downstream order placement situation in the future.