Group 1 - OPEC+ production increase is leading to a decline in crude oil prices, which is putting pressure on PX prices [1] - Despite the high current profits for PX, the profit structure in the industry chain is imbalanced, with PTA and terminal polyester profits at historical lows [1] - Short-term PX prices are expected to fluctuate downward, with the 11 contract projected between 6600 - 6800 [1] Group 2 - The increase in OPEC+ production is also affecting PTA prices, which are under pressure due to previous reliance on operational rates to reduce inventory [1] - There is an expectation of new installations coming online in October, which may impact PTA supply [1] - Short-term PTA prices are anticipated to fluctuate downward, with the 01 contract projected between 4500 - 4700 [1]
PX、PTA：受原油影响短期震荡偏空，分别看6600 - 6800、4500 - 4700
Sou Hu Cai Jing·2025-09-14 07:14