宏源期货日刊-20250422

1. Report Industry Investment Rating - No relevant content provided. 2. Core View of the Report - The supply - side support for ethylene glycol is expected to increase due to equipment maintenance, which may drive up the price. However, the downstream market has different sales situations, and the market volume is expected to be strong in the short - term but may enter a shock period later. The inventory of ethylene glycol will generally maintain an upward trend, and attention should be paid to the changes in downstream equipment and prices [2]. 3. Summary According to Relevant Catalogs 3.1 Price Information - Crude Oil: On April 22, 2025, the price was $572.50 per ton, up 0.84% from the previous day [1]. - Fiber Price Index: The Northeast Asia ethylene price index remained unchanged at $791.00 per ton on April 21, 2025 [1]. - Ethylene Glycol: The ex - factory price in the East China region on April 22, 2025, was 6,800 yuan per ton, unchanged from the previous day. The intermediate price in the East China market on April 21, 2025, was 4,170 yuan per ton, unchanged from the previous day. The internal - market ethylene glycol price index on April 21, 2025, was 4,180 yuan per ton, up 1.79% [1]. - Polyester Products: The polyester price index on April 21, 2025, was 8,375 yuan per ton, up 0.89%. The polyester staple fiber price index was 6,265 yuan per ton, up 0.16% [1]. 3.2 Equipment Maintenance Information - A 210,000 - ton/year equipment in North China is planned to be shut down for maintenance, with the maintenance duration around half a year. A 400,000 - ton/year equipment in South China is expected to shut down in April, and the start - up time is to be determined [2]. 3.3 Market Transaction Information - Ethylene Glycol: In the market, the basis difference showed a weak and fluctuating trend. The spot basis difference was concentrated around a premium of 56 - 67 yuan per ton. The negotiation and transaction of foreign - market ethylene glycol were relatively concentrated, with the price around a premium of $8 - 35 per ton. The transaction price was generally around $485 - 492 per ton [2]. - Downstream Products: The sales of polyester filament, polyester staple fiber, and polyester chips showed different trends. The sales situation of polyester products at the end of the week on April 21 was 37.59%, 85.00%, and 51.74% respectively [2].