宏源期货日刊-20250528

Report Industry Investment Rating - No information provided in the given content. 2. Core View - The ethylene glycol market is expected to maintain a slow adjustment trend in the short - term. The supply - side unexpected losses and high loads will lead to inventory reduction, but the overall market is still affected by macro - uncertainties and risk - aversion sentiment. The sales of polyester products such as polyester filaments and short - fibers are weak, following the price adjustment of ethylene glycol [2]. 3. Summary by Related Content 3.1 Price Information - Crude Oil: The CFR price of crude oil per ton on May 25, 2025, was $567.00, up 0.1% from the previous value of $566.13 [1]. - Ethylene: The price index of Northeast Asian ethylene per ton was $81.00 on May 26, 2025, unchanged from the previous value [1]. - Ethylene Glycol: The spot price of ethylene glycol in East China was $420.00 per ton on May 25, 2025, unchanged from the previous value. The price of the main contract on May 27, 2025, closed at $4387.00 per ton, down 0.14% from the previous value; the settlement price was $4366.00 per ton, and the nearby contract closed at $4564.00 per ton, up 1.99% from the previous value [1]. - Other Products: The price index of polyester was $8900.00 per ton on May 27, 2025, unchanged from the previous value; the price index of polyester staple fiber was $7250.00 per ton on May 27, 2025, unchanged from the previous value; the price index of bottle - grade chips was $5970.00 per ton on May 27, 2025, up 1.00% from the previous value of $6030.00 [1]. 3.2 Supply - side Information - An Anhui - based 300,000 - ton/year ethylene glycol plant in East China is expected to reduce its load for a relatively long time due to an accident. A 50,000 - ton/year plant has stopped production due to an accident, and the restart time is unknown [2]. 3.3 Market Transaction and Sentiment - On May 27, the ethylene glycol market had a strong basis difference. The main contract rose to a premium of about $910 per ton. The trading volume was relatively small, and the participation of polyester factories in purchasing was limited. The market sentiment was affected by high - liquidity and macro - uncertainties, with risk - aversion sentiment still existing [2]. 3.4 Product Sales Information - On May 27, the sales of polyester products such as polyester filaments, short - fibers, and chips followed the price adjustment of ethylene glycol. The sales of polyester filaments were generally low, with most downstream factories in a wait - and - see state, and the overall sales rate was about 6% - 38.98% [2].