Group 1 - The domestic futures market in the energy and chemical sector showed significant gains, with PTA futures rising sharply by 2.88% to 5280.00 yuan/ton [1] - The spot market for PTA had a generally moderate trading atmosphere, with the cash basis strengthening. December contracts were traded at a discount of 10-16, with prices ranging from 4995 to 5110 yuan [2] - The processing margin for PTA is currently low, leading to an increased willingness for maintenance, with attention on unexpected maintenance plans [2] Group 2 - On the demand side, polyester operating rates remain high, but negative feedback from terminal weaving is expected to emerge [2] - The short-term processing fee for PTA is limited without further stimulus, while upstream PXN remains unaffected by the off-season, providing upward support under strong expectations [2] - The Brent crude oil price is rebounding from a five-year low, with low oil prices and currency depreciation still supporting oil prices amid complex geopolitical situations [2]
需求端聚酯开工高位 短期内PTA将保持偏强格局
Jin Tou Wang·2025-12-26 07:09