投资咨询业务资格:证监许可【2012】31号 IIC国贸期货 | | | | | 聚酯数据日报 | | | --- | --- | --- | --- | --- | --- | | | | 国贸期货研究院 | | 投资咨询号:Z0017251 | 2025/10/10 | | | | 能源化工研究中心 | 陈胜 | | 从业资格号:F3066728 | | | 指标 | 2025/9/30 | 2025/10/9 | 变动值 | 行情综述 | | | INE原油(元/桶) | 479.7 | 471.0 | -8. 70 | 成交情况: PTA:国际原油价格较节前波动有限,虽然华东330万 | | SC | PTA-SC(元/陣) | 1108. 0 | 1161.2 | 53. 22 | 吨(设计产能,实际360万吨)PTA装置计划外降负荷 | | | | | | | 至5成左右,但消缺天数可能仅一周左右,对市场提振 | | | PTA/SC(比价) | 1. 3178 | 1. 3393 | 0. 0214 | 效果有限。下游聚酯产销一般,需求不旺。 | | PX | CFR中国PX | 804 | 8 ...

投资咨询业务资格:证监许可【2012】31号 | | C | | | 2025年10月9日 | 日环比 | 周环比 | | | 2025年10月9日 | 日环比 | 周环比 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 期货价格 | SP2601 | 5104 | -0. 74% | -3.63% | | 针叶浆银星 | 5520 | -0. 54% | -2. 30% | | | SP2511 | 4804 | -0.62% | -4.76% | 现货价 | 针叶浆俄针 | 5050 | -0. 98% | -2. 88% | | | SP2505 | 5146 | -0.73% | -3. 13% | | 阔叶浆等更 | 4250 | 0.00% | 0.71% | | | | 本期价格 | 上期价格 | 月环比 | | | 本期价格 | 上期价格 | 月环比 | | 外盘报价 | 智利银星 | 700 | 720 | -2.78% | | 智利银星 | 5721 | 5884 | -2.75% | | (美元) | 巴 ...

| | | | | 国贸期货研究院 | | 投资咨询号:Z0013700 | | | 2025/10/10 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 宏观金融研究中心 白素娜 | | 人业资格号:F3023916 | | | | | | | 伦敦金现 | 伦敦银现 | COMEX黄金 | COMEX白银 | AU2512 | AG2512 | AU (T+D) | AG (T+D) | | 内外盘金 | 日期 | (美元/盎司) | (美元/盎司) | (美元/盎司) | (美元/盎司) | (元/克) | (元/千克) | (元/克) | (元/千克) | | 银15点价 格龈踪 | 2025/10/9 | 4028. 99 | 48. 97 | 4048. 10 | 48. 30 | 914. 32 | 11169.00 | 910. 93 | 11129.00 | | (本表数 | | | | | | | | | | | 据来源: | 2025/9/30 | 3855. 84 | 46. 81 | ...

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints - Crude oil prices are running weakly, and the PX market has few transactions. Polyester downstream procurement stagnated during the holiday. The Asian naphtha crack spread was stable during the holiday, the spread between MX and naphtha narrowed from $88/ton last week to $85/ton, and the spread between PX and MX dropped to $132, continuing to support PX short - process profits. The US - Asia MX arbitrage window widened to $185, but there was no news of shipments from South Korea to the US. Domestic large - scale PTA plants are undergoing rotational inspections, and domestic PTA production has declined. The domestic PTA basis has quickly declined, and demand has not significantly increased. The polyester operating load has rebounded to 91%. Due to the weak crude oil, PTA has shown weakness. Bottle chips and staple fibers continue to fluctuate with costs [2] Group 3: Summary by Indicators Spot and Futures Prices - PTA spot price decreased from 4535 to 4500, a decrease of 35; MEG inner - market price decreased from 4275 to 4224, a decrease of 51; PTA closing price decreased from 4594 to 4584, a decrease of 10; MEG closing price decreased from 4207 to 4158, a decrease of 49 [2] - 1.4D direct - spun polyester staple fiber price decreased from 6465 to 6460, a decrease of 5; short - fiber basis increased from 129 to 137, an increase of 8; 10 - 11 spread decreased from 22 to 0, a decrease of 22 [2] - Polyester bottle - chip market prices declined. The prices of East China water bottle chips, hot - filled polyester bottle chips, and carbonated - grade polyester bottle chips all decreased by 46, and the outer - market water bottle chips decreased from 760 to 755, a decrease of 5 [2] Cash Flows and Processing Fees - Polyester staple - fiber cash flow increased from 240 to 246, an increase of 6; bottle - chip spot processing fee increased from 502 to 503, an increase of 1.01; T32S pure - polyester yarn processing fee increased from 3835 to 3840, an increase of 5; polyester - cotton yarn profit increased from 1566 to 1586, an increase of 20.32; hollow short - fiber 6 - 15D cash flow increased from 510 to 537, an increase of 27.01 [2] Operating Rates and Sales Ratios - Direct - spun short - fiber load (weekly) decreased slightly from 94.40% to 93.90%; polyester staple - fiber sales ratio increased from 57.00% to 67.00%, an increase of 10.00%; polyester yarn startup rate (weekly) remained unchanged at 63.50%; recycled cotton - type load index (weekly) decreased slightly from 51.50% to 51.00% [3] Other Prices - 1.4D direct - spun and imitation - large - chemical spread decreased from 940 to 935, a decrease of 5; T32S pure - polyester yarn price remained unchanged at 10300; polyester - cotton yarn 65/35 45S price remained unchanged at 16350; cotton 328 price decreased from 14545 to 14500, a decrease of 45; primary three - dimensional hollow (with silicon) price decreased from 7020 to 7000, a decrease of 20; primary low - melting - point short - fiber price remained unchanged at 7350 [2]

| | | | | | | | | FER TAX FER | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | | | | 2025/10/10 | 国贸期货出品 TG国贸期货 | | | | | | | | | | | | | 投资咨询业务资格:证监许可[2012] 31号 | | | | | | | | | | | | | 黑色金属研究中心 执业证号 | 投资咨询证号 | | | | | | | | | | | | 张宝慧 F0286636 | Z0010820 | | | | | | | | | | | | 黄志鸿 F3051824 | Z0015761 | | | | | | | | | | | | 董子勖 F03094002 | Z0020036 | | | | | | | | | | | | 薛夏泽 F03117750 | Z0022680 | | | | 远月合约收盘价 | | RB2605 | HC2605 | 12605 | J2605 | JM2605 | ...

1. Report Industry Investment Rating - No investment rating information provided in the report 2. Core View of the Report - In the short - term, while demand increases, supply also increases simultaneously, and the futures price may mainly fluctuate within a range. In the medium - to - long - term, production increases overall, which is the main factor suppressing the futures price. The fourth quarter is the traditional peak season for new energy vehicles, and after the increase in capacity electricity prices and the expansion of the spot price difference, the economic viability of independent energy storage has emerged, with the increase in tender volume indicating strong installation demand [3] 3. Summary by Relevant Catalog Lithium Compounds - The average price of SMM battery - grade lithium carbonate is 73,550 with no change, and the average price of SMM industrial - grade lithium carbonate is 71,300 with no change. The price difference between battery - grade and industrial - grade lithium carbonate is 2,250 [1][2] - Among futures contracts, the closing price of lithium carbonate 2510 is 73,580 with a 0.33% increase; lithium carbonate 2511 is 73,340 with a 0.27% increase; lithium carbonate 2512 is 73,500 with a 0.38% increase; lithium carbonate 2601 is 73,440 with a 0.38% increase; lithium carbonate 2602 is 73,240 with a 0.6% increase [1] Lithium Ore - The price of lithium spodumene concentrate (CIF China) is 843, down 15; lithium mica (Li20: 1.5% - 2.0%) is 1110, down 15; lithium mica (Li20: 2.0% - 2.5%) is 1835, down 20; phospho - lithium - aluminum stone (Li20: 6% - 7%) is 6080; phospho - lithium - aluminum stone (Li20: 7% - 8%) is 7190 [1][2] Cathode Materials - The average price of lithium iron phosphate (power type) is 33,640; the average price of ternary material 811 (polycrystalline/power type) is 152,350, up 2000; the average price of ternary material 523 (single - crystal/power type) is 123,850, up 1500; the average price of ternary material 613 (single - crystal/power type) is 129,850, up 2500 [2] Price Differences - The difference between battery - grade lithium carbonate and the main contract is 210, down 540; the difference between the near - month and the first - continuous contract is - 160, down 100; the difference between the near - month and the second - continuous contract is - 100, up 60 [2] Inventory - The total inventory (weekly, tons) is 134,801, down 2024; the inventory of smelters (weekly, tons) is 34,747, up 1255; the inventory of downstream (weekly, tons) is 59,765, down 1128; the inventory of others (weekly, tons) is 40,290, down 2150; the registered warehouse receipts (daily, tons) is 42,379, up 670 [2] Profit Estimation - The cash cost of purchasing lithium spodumene concentrate externally is 74,486, and the profit is - 2006; the cash cost of purchasing lithium mica concentrate externally is 77,806, and the profit is - 7315 [3] Technological Breakthrough - A research team led by researcher Huang Xuejie from the Chinese Academy of Sciences' Institute of Physics, in collaboration with Huazhong University of Science and Technology and the Chinese Academy of Sciences' Ningbo Institute of Materials Technology and Engineering, developed an anion regulation technology, solving the problem of poor contact between the electrolyte and lithium electrode in all - solid - state metal lithium batteries. The research results were published in the international academic journal "Nature - Sustainable Development" on the 7th [3] Market Demand and Supply - In the fourth quarter, it is the traditional peak season for new energy vehicles. After the increase in capacity electricity prices and the expansion of the spot price difference, the economic viability of independent energy storage has emerged, and the increase in tender volume indicates strong installation demand. The overall increase in production is the main factor suppressing the futures price [3]

| | 锂云母 | | | | 电硕-工候价差 元/吨 | = 工业级碳酸锂-平均价 一 电池级碳酸锂-平均价 | | --- | --- | --- | --- | --- | --- | --- | | | (Li20:1.5%-2.0%) | 1125 | | -15 | | TT/ H | | | 锂云母 | | | | | | | | (Li20:2.0%-2.5%) | 1855 | | -20 | | 碳酸锂注册仓单(吨) | | | 磷锂铝石 (Li20:6%-7%) | 6080 | | -70 | | | | | 磷锂铝石 | 7190 | | -95 | | | | | (Li20:7%-8%) | | | | | | | | 正极材料 | 平均价 | | 涨跌 | | | | | 磷酸铁锂(动力型) | 33640 | | | | | | | 三元材料811(多晶/动力型) | 150350 | | 1000 | | | | | 三元材料523 (单晶/动力型) | 122350 | | 600 | | | | | 三元材料613(单晶/动力型) | 127350 | | 700 | ...

| 玻璃纯敏数据 板 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | TC 国贸期货 国贸期货研究院出品 投资咨询业务资格:证监许可[ 2012 ]31号 | | | | | | | | | ● 制表人:黑色金属研究中心 | | 黄志鸿 2 投资咨询证:Z0015761 | | | | | | | 2025/10/09 | | 从业资格证:F3051824 | | | | 细碱 | | | 合约 | | 1月 | 5月 | 9月 | 1月 | 5月 | 9月 | | 收盘 | | 1210 | 1326 | 1399 | 1255 | 1349 | 1410 | | -20 | 涨跌 | -18 | | -20 120 | -23 | -17 | -17 | | 期货 | 幅度 | -1.47% | -1.49% | -1. 41% | -1.8% | -1.24% | -1. 19% | | 1月-5月 | 价声 | | 5月-9月 | 9月-1月 | 1月-5月 | 5月-9月 | 9月-1月 | | 收营 | | - ...

| | | | | 聚酯数据日报 | | | --- | --- | --- | --- | --- | --- | | | | 国贸期货研究院 | | 投资咨询号:Z0017251 | 2025/10/9 | | | | 能源化工研究中心 | 陈胜 | | 从业资格号:F3066728 | | | 指标 | 2025/9/29 | 2025/9/30 | 变动值 | 行情综述 | | | INE原油(元/桶) | 492.6 | 479.7 | -12.90 | 成交情况: PTA:原油行情下跌,对PTA成本支撑减弱。节后220万 | | | | | | | 吨PTA装置计划提前检修,但对市场提振效果有限, | | SC | PTA-SC(元/陣) | 1072. 2 | 1108. 0 | 35. 75 | PTA现货充足。 | | | PTA/SC(比价) | 1. 2995 | 1. 3178 | 0. 0183 | | | PX | CFR中国PX | 817 | 804 | -13 | | | | PX-石脑油价差 | 209 | 219 | 10 | | | | PTA主力期价(元/吨) | 4 ...

| | | | 国贸期货研究院 | 投资咨询号:Z0017251 2025/10/9 | | --- | --- | --- | --- | --- | | | | | 能源化工研究中心 陈胜 | 从业资格号:F3066728 | | 指标 | 2025/9/29 | 2025/9/30 | 变动值 | | | PTA现货价格 | 4590 | 4535 | (55.00) | | | MEG内盘价格 | 4295 | 4275 | (20.00) | 现货资讯: | | PTA收盘价 | 4652 | 4594 | (58.00) | 短纤:涤纶短纤主力期货价格跌50至6276。现货 | | MEG收盘价 | 4224 | 4207 | (17.00) | 市场:涤纶短纤生产工厂价格稳定,贸易商价格 | | | | | | 偏弱下滑,下游按需采买,场内成交分化。 | | 1.4D直纺涤短 | 6480 | 6465 | (15.00) | 1.56dtex*38mm半光本白(1.4D)涤纶短纤华东市 | | 短纤基差 | 110 | 129 | 19.00 | 场价格在6250-6550现款现汇含税自提,华 ...