建信期货MEG日报-20250715

Report Information - Report Name: MEG Daily Report [1] - Date: July 15, 2025 [2] Investment Rating - No investment rating information provided Core View - The supply-demand structure of ethylene glycol (MEG) has improved, but considering the restart of MEG maintenance devices and the demand reduction during the downstream off-season, the market outlook remains cautious, and MEG prices are expected to fluctuate within a range [7] Section Summaries 1. Market Review and Operational Suggestions - Futures Market: On the 14th, the main MEG futures contract 2509 opened at 4305, reached a high of 4360, a low of 4303, settled at 4331, and closed at 4357, up 40 from the previous trading day's settlement price. The total volume was 205,526 lots, and the open interest was 288,868 lots. The EG2601 contract closed at 4369, up 24, with an open interest of 17,362 lots, an increase of 1107 [7] 2. Industry News - Crude Oil: On Friday (July 11), the settlement price of WTI crude oil futures for August 2025 on the New York Mercantile Exchange was $68.45 per barrel, up $1.88 or 2.82% from the previous trading day. The settlement price of Brent crude oil futures for September 2025 on the London Intercontinental Exchange was $70.36 per barrel, up $1.72 or 2.51% [8] - MEG Market: The mainstream transaction price of MEG in the Zhangjiagang market was 4375 - 4425 yuan/ton, up 15 yuan/ton from the previous trading day. In the Dongguan market, it was around 4350 yuan/ton, up 10 yuan/ton. In the Fujian market, it was also around 4350 yuan/ton, up 10 yuan/ton. The futures price rose, and the downstream demand was mainly for rigid needs, with average actual transaction negotiations [8] 3. Data Overview - Multiple data charts are presented, including MEG futures prices, spot-futures price differences, international crude oil futures prices, raw material price indices (ethylene), PTA-MEG price differences, MEG prices, MEG downstream product prices, and MEG downstream product inventories, with data sources from Wind and the Research and Development Department of CCB Futures [10][15][16]