In order to make sure that the profits may not decrease for the price fluctuation, the manufacturers of PTA can choose PTA futures for hedging. Among a variety of methods and evaluation indicators for hedging, we use Markowitz portfolio theory and the optimal hedging ratio derived by John C.Hul as evaluation indicators, and use the hedging effectiveness evaluation indicators proposed by Ederington to analyze the hedging effectiveness. The empirical analysis with the data from the first half of 2013 proves that hedging can reduce most risk for manufacturing enterprises.