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金信期货日刊-20251224
Jin Xin Qi Huo· 2025-12-24 01:08
Report Overview - Report Date: December 24, 2025 [1] - Report Name: GOLDTRUST FUTURES DAILY REPORT Investment Ratings - The report is bullish on the coking coal main contract [2] Core Views - There are five reasons to be bullish on the coking coal main contract: low valuation, policy support, approaching restocking demand, tightening supply, and sentiment repair [3] - For the stock index futures, the cycle shows a pullback after reaching a high, but the decline is limited, and the strong feature remains unchanged. It is recommended to buy on dips and not to chase the rise [5] - Gold shows signs of starting to rise again after a period of sideways consolidation, and it is advisable to try going long [10] - Iron ore is searching for a bottom, with weak domestic demand support. Technically, it is expected to maintain a wide - range oscillation, and high - selling and low - buying are recommended [14] - Glass is expected to be weak in the short - term, with a bearish view on the daily - line level [16] - Methanol in the sales area is showing a strong market due to factors such as increased freight costs and growing demand [19] - Pulp demand is expected to improve overall, and an oscillating trend is predicted [22] Summary by Categories Coking Coal - Valuation has reached a low level, with a cumulative decline of over 20% in December, hitting a new low for the year. The current price is lower than the Mongolian coal import cost line, and the spot premium over the futures forms a safety cushion [3] - Six departments have issued a document to promote the clean and efficient use of coal, and relevant policies are expected to improve the industry order and boost market expectations [3] - Steel mills' coking coal inventory is 12% lower than in previous years. The pre - Spring Festival winter storage restocking window is approaching, which will create a phased demand impulse [3] - Some coal mines have limited production after completing their annual production tasks, and the winter Mongolian coal port clearance is easily affected by weather, leading to a narrowing expectation of import growth [3] - After the continuous outflow of short - selling funds, policy benefits have driven a sharp rebound in the market, and market sentiment has shifted from pessimism to repair, with sufficient technical rebound momentum [3] Stock Index Futures - The cycle shows a pullback after reaching a high, but the decline is limited, and the strong feature remains unchanged. It is recommended to continue to buy on dips and not to chase the rise [5] Gold - After a period of sideways consolidation, gold shows signs of starting to rise again, and it is advisable to try going long [10] Iron Ore - With the commissioning of the Simandou project, the expectation of a supply surplus is further fermenting. On the demand side, except for exports, the real estate and infrastructure sectors are still searching for a bottom, and domestic demand support is weak [14] - Technically, it is expected to maintain a wide - range oscillation, and high - selling and low - buying are recommended [14] Glass - The daily melting volume has declined, and there has been another inventory reduction this week. The main driving forces are the supply - side clearance due to policy - end stimulus policies and anti - involution policies [17] - Technically, with consecutive negative daily - line closes, a bearish view is taken in the short - term [16] Methanol - Recently, freight costs have increased significantly, leading to higher arrival costs in the sales area. The demand has shown an increasing trend due to the stable 80% load of the newly built olefin project of Lianhong [19] - As the port methanol price continues to rise, the amount of port goods flowing back to Shandong has gradually decreased, and the market in the sales area is strong under multiple positive factors [19] Pulp - With the continuous boost of domestic demand by domestic policies, increased production cuts by overseas pulp mills, and the gradual clearance of backward papermaking production capacity, the demand for commercial pulp is expected to improve overall [22] - An oscillating trend is predicted [22]
金信期货PTA乙二醇日刊-20251223
Jin Xin Qi Huo· 2025-12-23 09:40
Report Information - Report Name: GOLDTRUST FUTURES PTA Ethylene Glycol Daily [1] - Report Date: December 23, 2025 [1] PTA Main Contract - On December 23, the PTA main futures contract TA605 rose 4.52%, and the basis weakened to -85 yuan/ton [2] Fundamental Situation - The market price of PTA in East China today is 4955 yuan/ton, up 73 yuan/ton from the previous trading day [3] - The Brent crude oil futures on the cost side rebounded to $62/barrel [3] - The PTA capacity utilization rate is 73.81%, and a 2.2 million-ton unit in East China is scheduled to resume operation on the 24th [3] - The weekly inventory days of PTA factories are 3.76 days, a decrease of 0.1 days compared to the previous period [3] Main Force Movements - Short main force increased positions [3] Trend Expectation - The previously overhauled PTA production capacity will gradually restart, and the de-stocking pattern is unsustainable [3] - The downstream polyester start-up rate remains at a high level beyond expectations. It is necessary to pay attention to the situation of polyester factories taking early holidays before the Spring Festival [3] - It is expected that PTA will fluctuate strongly in the short term [3] MEG (Ethylene Glycol) Main Contract - On December 23, the ethylene glycol main futures contract eg2605 fell 3.02%, and the basis weakened to -153 yuan/ton [4] Fundamental Situation - The market price of ethylene glycol in East China today is 3522 yuan/ton, down 93 yuan/ton from the previous trading day [4] - The total inventory of MEG in the main ports of East China is 659,800 tons, an increase of 31,800 tons compared to the previous period (the warehouse sample is adjusted to exclude data from Ningbo warehouses) [4] Main Force Movements - Short main force increased positions [4] Trend Expectation - The previous shutdown and overhaul of multiple units have alleviated the supply pressure of ethylene glycol. With the recent restart of some units, the inventory accumulation expectation has not been reversed, and the current absolute high inventory suppresses the price [4] - It is necessary to pay attention to the inventory changes this week. It is expected that the ethylene glycol price will continue to oscillate at the bottom [4]
金信期货日刊-20251223
Jin Xin Qi Huo· 2025-12-23 00:47
Report Summary - **Industry Investment Rating**: Not provided - **Core Viewpoint**: The report is bullish on the coking coal main contract and provides technical analysis and trading suggestions for multiple futures products Reasons for Bullish on Coking Coal Main Contract - Valuation has reached a low level with a cumulative decline of over 20% in December, hitting a new low for the year, and the current price is below the Mongolian coal import cost line, with significant valuation repair space [3] - Policy support from six - department documents and "Qiushi" magazine, which is expected to improve industry order and boost market sentiment [3] - Approaching restocking demand as steel mills' coking coal inventory is 12% lower than in previous years, and there will be a pre - Spring Festival winter storage restocking window [3] - Supply is tightening marginally as some coal mines have limited production after completing annual capacity tasks, and Mongolian coal port clearance is affected by winter weather [3] - Market sentiment is being repaired, with short - selling funds flowing out and a strong technical rebound momentum [3] Technical Analysis of Various Futures Stock Index Futures - The 15 - minute cycle continues an upward - trending oscillation. It is recommended to buy on dips rather than chase the rise [6] Gold - After a period of sideways oscillation, there are signs of an upward movement, and going long can be attempted [11] Iron Ore - With the commissioning of the Simandou project, supply is expected to be more abundant. Demand from domestic sectors is weak except for exports. It is recommended to trade within a wide - range oscillation, selling high and buying low [12][13] Glass - The daily - line level has consecutive negative closes, and a bearish - leaning oscillation view is recommended [15][16] Methanol - Freight rates have increased significantly, increasing the arrival cost in sales areas. Demand is increasing due to a new olefin project. The market in sales areas is strong due to multiple positive factors [18] Pulp - With domestic policies boosting domestic demand, overseas pulp mills reducing production, and the elimination of backward papermaking capacity, the demand for commercial pulp is expected to improve. An oscillatory trend is expected [21]
金信期货PTA乙二醇日刊-20251222
Jin Xin Qi Huo· 2025-12-22 10:27
GOLDTRUST FUTURES CO.,LTD PTA 主力合约:12月22日PTA主力期货合约TA605今天上涨4.52%,基差走强至-82元/吨。 金 信 期 货 P T A 乙 二 醇 日 刊 本刊由金信期货研究院撰写 2 0 2 5 / 1 2 / 2 2 主力动向:空头主力增仓 感谢您下载包图网平台上提供的PPT作品,为了您和包图网以及原创作者的利益,请勿复制、传播、销售,否则将承担法律责任!包图网将对作品进行维权,按照传播下载次数进行十倍的索取赔偿! 走势预期:PTA之前检修的产能将逐步开始重启,去库格局不可持续;下游聚酯开工维持高位超预期,关注聚酯工厂节前提前放假情 况。预计短期PTA随成本端宽幅震荡。 MEG 主力合约:12月22日乙二醇主力期货合约eg2605下跌0.61%,基差走弱至-121元/吨。 ibaotu.com 日度市场情况 基本面:今日PTA华东地区市场价4882元/吨,较前一交易日上涨117元/吨。成本端布伦特原油重回61美元/桶;供给端PTA产能利用率 73.81%,华东一套220万吨装置计划24日复车;周度PTA工厂库存天数3.76天,环比减少0.1天。 基本面:今日 ...
金信期货日刊-20251222
Jin Xin Qi Huo· 2025-12-21 23:54
1. Report Industry Investment Ratings No relevant content provided. 2. Core Views of the Report - The rise of coking coal is a rebound driven by short - term sentiment and winter storage expectations. Medium - to long - term, investors can gradually build long positions on dips, while in the short term, they should strictly control positions [2][3][4]. - For A - shares, the market had a small decline after a short - term rise. The 15 - minute cycle rebound has just started, and it is expected to rise next week. It is recommended to buy on dips rather than chase the rise [6]. - Gold shows signs of upward movement after a period of sideways trading, and investors can try to go long [8]. - Iron ore is in the process of finding a bottom with weak domestic demand support. It is recommended to trade within a wide range by selling high and buying low [10][11]. - For glass, it weakened today, and whether the rebound has ended needs further observation. In the short term, it can be treated as a sideways market [15][16]. - For palm oil, as the production area enters the production - reduction season, if Malaysian palm oil exports remain weak, there may be inventory accumulation in December. Investors should seize short - selling opportunities [18]. - For pulp, with domestic policies boosting domestic demand, overseas pulp mills reducing production, and backward papermaking capacity being phased out, the demand for commercial pulp is expected to improve. It is expected to trade sideways [20]. 3. Summaries by Related Catalogs Coking Coal - **Drivers**: Since December, environmental protection warnings in the north have led to 20% - 35% production cuts in coking enterprises; year - end coal mine maintenance, policy "anti - involution" boost sentiment, and winter storage replenishment expectations are rising; relevant departments have released new standards for clean and efficient coal utilization [3]. - **Supply and Demand**: Mongolian coal imports are at a high level, and domestic high - quality production capacity is steadily increasing, with a loose supply pattern. Real estate has dragged down steel demand, and steel mill hot metal production is low, making it difficult for the rigid demand for coking coal to recover significantly [4]. - **Key Levels**: On December 18, the main contract reached a maximum of 1,136.5 yuan. 1,200 yuan is a strong resistance level, 1,050 yuan is a short - term support level, and the 1,000 - yuan integer level has cost support [3]. - **Operation Suggestion**: Medium - to long - term, gradually build long positions on dips; short - term, strictly control positions [4]. A - shares - **Market Trend**: The market had a small decline after a short - term rise. The financial and real estate sectors supported the market throughout the day, and the Shanghai Composite Index achieved three consecutive positive closes. The 15 - minute cycle rebound has just started [6]. - **Operation Suggestion**: Next week, it is recommended to buy on dips rather than chase the rise [6]. Gold - **Market Trend**: After a period of sideways trading, it shows signs of upward movement [8]. - **Operation Suggestion**: Try to go long [8]. Iron Ore - **Market Trend**: It is in the process of finding a bottom with weak domestic demand support [10][11]. - **Operation Suggestion**: Trade within a wide range by selling high and buying low [10]. Glass - **Market Trend**: It weakened today, and whether the rebound has ended needs further observation [15][16]. - **Operation Suggestion**: In the short term, treat it as a sideways market [15]. Palm Oil - **Market Trend**: As the production area enters the production - reduction season, if Malaysian palm oil exports remain weak, there may be inventory accumulation in December [18]. - **Operation Suggestion**: Seize short - selling opportunities [18]. Pulp - **Market Trend**: With domestic policies boosting domestic demand, overseas pulp mills reducing production, and backward papermaking capacity being phased out, the demand for commercial pulp is expected to improve [20]. - **Operation Suggestion**: It is expected to trade sideways [20].
金信期货观点-20251219
Jin Xin Qi Huo· 2025-12-19 07:53
Report Industry Investment Rating - No relevant information provided Core Viewpoints - The EIA's "Short-Term Energy Outlook (STEO)" report predicts that global oil inventories will continue to rise in 2026, with an average price of $55 per barrel. Supply surplus pressure is the core driver of oil prices, and geopolitical factors may cause short - term rebounds but not significant surges [4] - The domestic PX load is stable this week, and there are maintenance plans in January, with expected supply contraction. The PX processing fee continues to rise. The PTA device has little change, and downstream polyester load is high, but terminal demand is weak. PTA prices are expected to fluctuate with the cost side [4] - The domestic ethylene glycol (MEG) operating rate has decreased this week, and the spot price has rebounded from the bottom. High inventory is the core factor suppressing prices. In the short - term, prices may fluctuate widely, and in the long - term, there is a downward expectation [5] - Pure benzene has reduced production due to low profits, and its domestic operation has slightly decreased with high port inventories. Downstream demand is weak, and it is expected to fluctuate weakly. Styrene has a low operating rate due to many overhauls, and it is expected to fluctuate weakly with the cost side [5] Summary by Variety Crude Oil - The EIA's "Short - Term Energy Outlook (STEO)" report predicts that global oil inventories will continue to rise in 2026, with an average price of $55 per barrel [4] - The situation in Venezuela is favorable for the geopolitical level, but its oil exports are still normal. There is no new progress in deepening sanctions on the Russian energy sector [4] - Supply surplus pressure is the core driver of oil prices. Geopolitical factors may cause short - term rebounds but not significant surges [4] PX & PTA PX - The domestic PX weekly average capacity utilization rate is 89.21%, unchanged from last week; the Asian PX weekly average capacity utilization rate is 78.97%, a 0.15% decrease from last week [8] - The PX - naphtha spread reached a new high of $290 per barrel this year [8] - Zhejiang Petrochemical has a more than one - month maintenance plan for CDU and reforming in January 2026, and PX is expected to reduce its load by about 10% [8] - In the fourth quarter, the maintenance of PX devices at home and abroad is limited, and the PX operation can be stably maintained at a high level. Terminal demand is expected to stabilize and recover. Overall, supply and demand are stable, and PXN is supported. PX prices are expected to fluctuate with crude oil prices [8] PTA - The PTA spot market price this week is 4,617 yuan per ton, a 16 - yuan decrease from last week. The PTA weekly average capacity utilization rate is 73.81%, unchanged from last week [12] - The in - factory inventory days are 3.76 days, a 0.1 - day decrease from last week [12] - In 2026, the domestic PTA capacity is expected to remain stable with no new capacity put into operation [12] - This week's PTA processing fee is 175 yuan per ton, a 1 - yuan decrease from last week. In the long - term, there is a view of inventory accumulation, and the PTA price rebound is limited [12] MEG - The ethylene glycol price has hit a new low this year. The weekly market price is 3,650 yuan per ton, a 4 - yuan decrease from last week [16] - The domestic ethylene glycol comprehensive capacity utilization rate is 61.71%, a 0.24% decrease from last week. The coal - based ethylene glycol capacity utilization rate is 61%, a 0.16% increase from last week [16] - The production gross profit is - 1,045 yuan per ton, an 84 - yuan increase from last week [16] - An Inner Mongolia 400,000 - ton/year syngas - to - ethylene glycol device has advanced its maintenance plan, and it is expected to stop until January 9, 2026 [16] - This week, the ethylene glycol port inventory has continued to rise, with the East China port inventory reaching 770,000 tons, a 15,000 - ton increase from last week [16] BZ & EB Pure Benzene - The pure benzene operating rate this week is 74.94%, a 0.17% decrease from last week [26] - The pure benzene port inventory has significantly increased to 260,000 tons, unchanged from last week [26] - Downstream PS, ABS, and EPS operating rates are all decreasing year - on - year. The demand resilience needs further observation [26] Styrene - The styrene operating rate is 69.13%, a 0.84% increase from last week, and BZN is stable at about $115 per ton [26] - Styrene has reduced inventory, with the port inventory at 146,800 tons, a 13,800 - ton decrease from last week, and the East China in - factory inventory at 102,300 tons, a 3,400 - ton decrease from last week [26] Polyester - The weekly average capacity utilization rate of the Chinese polyester industry this week is 86.9%, a 0.06% increase from last week, with short - fiber inventory reduction and long - filament inventory accumulation [20] - The comprehensive operating rate of chemical fiber weaving in the Jiangsu and Zhejiang regions is 62.90%, a 0.79% decrease from the previous data [20] - The average terminal weaving order days are 11.07 days, a 0.83 - day decrease from last week; the average terminal weaving finished product inventory level is 26.12 days, a 0.54 - day increase from last week [20] - The demand of downstream industries is gradually weakening, the winter fabric stocking is coming to an end, new orders are significantly reduced, and the spring - summer order placement is hesitant [20]
金信期货日刊-20251219
Jin Xin Qi Huo· 2025-12-18 23:30
Group 1: Report Overview - Report Date: December 19, 2025 [1] - Report Issuer: Jinxin Futures Research Institute [1] Group 2: Coking Coal Analysis Core View - Coking coal price increase is a short - term rebound driven by sentiment and winter storage expectations [2] Driving Factors - Since December, environmental protection warnings in the north have led to coking enterprises' production restrictions of 20% - 35% [3] - Year - end coal mine maintenance, policy support, and winter storage replenishment expectations have boosted sentiment [3] - Relevant departments have released standards for the clean and efficient use of coal [3] Supply and Demand - Mongolian coal imports are at a high level, and domestic high - quality production capacity is steadily increasing, with a loose supply pattern [4] - Real estate has dragged down steel demand, and the blast furnace hot metal output of steel mills is low, making it difficult for the rigid demand for coking coal to significantly recover [4] Market Rhythm - Winter storage may bring short - term pulses but is difficult to sustain; rapid price increases may trigger an increase in imported coal, suppressing the increase [4] Operation Suggestions - In the medium and long term, gradually lay out long positions on dips; in the short term, strictly control positions [4] Key Price Levels - On December 18, the highest price of the main contract was 1,136.5 yuan; 1,200 yuan is a strong resistance level, 1,050 yuan is a short - term support level, and 1,000 yuan has cost support [3] Group 3: A - share Market Analysis Market Performance - The A - share market showed a differentiated trend. The technology sector adjusted, and the banking sector supported the market. The Shanghai Composite Index closed slightly up, while other indices generally rose and then fell [6] Technical Analysis - The 15 - minute cycle can be regarded as a consolidation of the previous day's afternoon rally. If the consolidation ends, there may be another rally [6] Operation Suggestions - High - sell on rallies tomorrow, but do not chase the rise [6] Group 4: Gold Market Analysis Market Trend - After a period of sideways consolidation, gold shows signs of upward movement [8] Operation Suggestions - Try to go long [8] Group 5: Iron Ore Market Analysis Supply and Demand - With the commissioning of the Simandou project, the expectation of a loose supply has further fermented. On the demand side, except for exports, the real estate and infrastructure sectors are still in the process of bottom - seeking, and domestic demand support is weak [10][11] Technical Analysis - Adopt a wide - range oscillation strategy, selling high and buying low [10] Group 6: Glass Market Analysis Market Drivers - The daily melting volume has declined, and the inventory has decreased this week. The main drivers are policy - side stimulus and supply - side clearance [15] Technical Analysis - In the short term, regard it as an oscillating market [14][15] Group 7: Palm Oil Market Analysis Market Situation - As the palm oil - producing areas gradually enter the production - reduction season, if Malaysian palm oil exports remain weak, there may be inventory accumulation in December [16] Operation Suggestions - Seize short - selling opportunities [16] Group 8: Pulp Market Analysis Market Outlook - With domestic policies boosting domestic demand, overseas pulp mills reducing production, and the elimination of backward papermaking production capacity, the demand for commercial pulp is expected to improve [19] Market Judgment - An oscillating market is expected [19]
金信期货PTA乙二醇日刊-20251218
Jin Xin Qi Huo· 2025-12-18 12:13
1. Report Industry Investment Rating - No information provided about the industry investment rating 2. Report's Core View - PTA market is expected to follow the cost - end fluctuations. The previous destocking pattern is unsustainable, and the terminal demand may weaken [3] - In the short - term, the rebound of the ethylene glycol market is limited under the expectation of a double - reduction in supply and demand [4] 3. Summary by Related Catalogs PTA - **主力合约情况**: On December 18, the PTA main futures contract TA605 rose 1.54%, and the basis strengthened to - 69 yuan/ton [2] - **基本面情况**: The market price in East China was 4,655 yuan/ton, up 51 yuan/ton from the previous trading day. Brent crude oil fluctuated around $60. The PTA capacity utilization rate was 73.81%. The weekly PTA factory inventory days were 3.76 days, a decrease of 0.1 days from the previous period [3] - **主力动向**: There were differences between long and short main forces [3] - **走势预期**: The previously shut - down PTA production capacity will gradually resume operation, the destocking pattern is unsustainable. The downstream polyester start - up remains at a high level, but the terminal demand may weaken. The PTA market is expected to follow the cost - end fluctuations [3] MEG (Ethylene Glycol) - **主力合约情况**: On December 18, the ethylene glycol main futures contract eg2605 fell 0.21%, and the basis weakened to - 130 yuan/ton [4] - **基本面情况**: The market price in East China was 3,654 yuan/ton, down 14 yuan/ton from the previous trading day. The crude oil price was under pressure while the coal price rebounded. The weekly inventory in East China ports totaled 770,000 tons, an increase of 15,000 tons from the previous period [4] - **主力动向**: There were differences between long and short main forces [4] - **走势预期**: After the ethylene glycol price fell below 3,600 yuan, a large - scale decline in start - up occurred, and multiple units were shut down for maintenance, which relieved the supply - side pressure. The current high inventory suppresses the price. In the short - term, the rebound is limited under the expectation of a double - reduction in supply and demand [4]
金信期货日刊-20251218
Jin Xin Qi Huo· 2025-12-17 23:30
Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The US November non - farm payrolls had mixed results. The non - farm employment population increased by 64,000, higher than the expected 50,000, but the unemployment rate reached 4.6%, a four - year high and above the expected 4.4%. The average hourly wage annual and monthly rates were lower than expected [3]. - The medium - to - long - term upward logic of Shanghai silver remains intact, but short - term high - level shock and correction should be guarded against. The industrial demand for silver from photovoltaic and new energy vehicles accounts for over 58%, with a supply - demand gap of about 5,000 tons in 2025, and the inventory of the Shanghai Futures Exchange is at a five - year low [3]. - The Fed cut interest rates in December 2025, and the expectation of rate cuts in 2026 continues. The weakening of the US dollar strengthens the financial attribute of silver, and funds continue to flow in. However, there are short - term risks such as high gains this year, overbought technical indicators, and increased pressure for profit - taking [4]. - In the stock market, A - shares rebounded, and it is likely that there will be no C - wave decline. The stock index is recommended to be bought on dips in the short term [7][8]. - Gold shows signs of upward movement after a period of sideways shock and can be considered for long positions [11]. - Iron ore is in a supply - demand situation with increasing supply and weak domestic demand support. It is recommended to trade within a wide range [13][14]. - Glass is still in a downward trend, and a bearish view with a shock pattern is maintained [17][18]. - For palm oil, if Malaysian palm oil exports remain weak in December during the production - reduction season, there may be inventory accumulation, and short - selling opportunities should be grasped [19]. - For pulp, with domestic policies boosting domestic demand, overseas pulp mills reducing production, and the elimination of backward papermaking capacity, the demand for commercial pulp is expected to improve, and a shock pattern is expected [22]. 3. Summary by Related Catalogs Hot Focus - US November non - farm payrolls: The non - farm employment population increased by 64,000, the unemployment rate was 4.6%, and the average hourly wage annual and monthly rates were 3.5% and 0.1% respectively [3]. - Shanghai silver: Closed up 5.05% to 15,006 yuan on December 17. The medium - to - long - term upward logic is intact, but short - term risks exist [3]. Technical Analysis - Stock index futures: The market is likely to be a double - bottom structure, and it is recommended to buy on dips in the short term [7]. - Gold: Shows signs of upward movement after sideways shock, and long positions can be tried [11]. - Iron ore: With increasing supply and weak domestic demand, it is recommended to trade within a wide range [13][14]. - Glass: The downward trend has not reversed, and a bearish view with a shock pattern is maintained [17][18]. - Palm oil: If exports are weak in December, there may be inventory accumulation, and short - selling opportunities should be grasped [19]. - Pulp: The demand is expected to improve, and a shock pattern is expected [22].
金信期货PTA乙二醇日刊-20251217
Jin Xin Qi Huo· 2025-12-17 10:38
本刊由金信期货研究院撰写 2 0 2 5 / 1 2 / 1 7 GOLDTRUST FUTURES CO.,LTD PTA 主力合约:12月17日PTA主力期货合约TA605今天上涨0.30%,基差走强至-72元/吨。 金 信 期 货 P T A 乙 二 醇 日 刊 ibaotu.com 日度市场情况 基本面:今日PTA华东地区市场价4604元/吨,较前一交易日上涨10元/吨。成本端布伦特原油跌破60美元;供给端PTA产能利用率 73.81%;周度PTA工厂库存天数3.86天,环比减少0.06天。 主力动向:空头主力减仓 感谢您下载包图网平台上提供的PPT作品,为了您和包图网以及原创作者的利益,请勿复制、传播、销售,否则将承担法律责任!包图网将对作品进行维权,按照传播下载次数进行十倍的索取赔偿! 走势预期:PTA之前检修的产能将逐步开始重启,去库格局不可持续;下游聚酯开工维持高位超预期,预计终端需求或将转弱,关注 聚酯工厂节前提前放假情况。预计PTA市场依旧跟随成本端震荡运行。 MEG 主力合约:12月17日乙二醇主力期货合约eg2605上涨0.67%,基差走弱至-107元/吨。 基本面:今日乙二醇华东地区 ...