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建信期货PTA日报-20250526
Jian Xin Qi Huo·2025-05-26 03:08

Group 1: General Information - Report Name: PTA Daily Report [1] - Date: May 26, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Group 2: Market Review and Operation Suggestions - Futures Quotes: TA2509 closed at 4,716 yuan/ton, down 18 yuan/ton (0.38% decrease), with a trading volume of 1,267,572 lots and a decrease of 8,764 lots; TA2601 closed at 4,568 yuan/ton, down 38 yuan/ton, with a trading volume of 103,832 lots and an increase of 543 lots [6] - Market Outlook: Despite the influence of PTA de - stocking after the official maintenance plan of East China plants, the expectation of production cuts by downstream polyester factories remains, and the crude oil market was weak during the session. It is expected that the PTA market will decline slightly [6] Group 3: Industry News - Crude Oil: Geopolitical tensions were downplayed, and traders returned to market fundamentals. OPEC and its allies were discussing an output increase in July, causing concerns about oversupply. WTI July 2025 futures settled at $61.2/barrel, down $0.37 (0.60% decrease); Brent July 2025 futures settled at $64.44/barrel, down $0.47 (0.72% decrease) [7] - PX: PX price in the Chinese market was estimated at $825 - 827/ton, up $3/ton; in the South Korean market, it was estimated at $805 - 807/ton, up $3/ton. There was one transaction of any July cargo at $828/ton. The cost support of PX was limited due to the range - bound international oil prices, but domestic PX operating load was low and there were still maintenance plans, and the demand outlook was good [7] - PTA: The price of PTA in the East China market was 4,875 yuan/ton, up 13 yuan/ton. The average daily negotiation basis was a premium of 148 yuan/ton over futures 2509, up 20 yuan/ton [7] Group 4: Data Overview - Figures: Include PTA futures price summary, futures - spot price difference, PTA processing margin, PTA downstream product inventory, PTA warehouse receipt quantity, polyester factory load rate, PTA downstream product price, etc. [17][18][23][24]