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建信期货PTA日报-20250716
Jian Xin Qi Huo·2025-07-16 01:42

Report Information - Report Date: July 16, 2025 [2] - Report Type: PTA Daily Report - Research Team: Energy and Chemical Research Team - Researchers: Li Jie, Ren Junchi, Peng Haozhou, Peng Jinglin, Liu Youran, Feng Zeren [3] 1. Market Review and Operation Suggestions - Futures Market Quotes: On July 15, the closing price of the PTA main futures contract TA2509 was 4,696 yuan/ton, down 30 yuan/ton or 0.63%. The settlement price was 4,708 yuan/ton, and the daily open interest increased by 20,242 lots. The closing price of TA2601 was 4,656 yuan/ton, down 36 yuan/ton, with a trading volume of 165,345 lots and an increase of 18,095 lots [5]. - Market Outlook: With the continuous decline in crude oil prices and the low processing margin of PTA, the PTA market may be relatively resistant to decline but will still follow the downward trend of crude oil. It is expected that the PTA market will decline slightly [5]. 2. Industry News - International Oil Prices: Investors weighed the 50 - day deadline before Trump's new sanctions on a European country and still worried about Trump's tariffs, causing international oil prices to fall. On July 14, the settlement price of the WTI crude oil futures contract for August 2025 on the New York Mercantile Exchange was $66.98 per barrel, down $1.47 or 2.15%. The settlement price of the Brent crude oil futures contract for September 2025 on the London Intercontinental Exchange was $69.21 per barrel, down $1.15 or 1.63% [6]. - PX Prices: The estimated price of PX in the Chinese market was $834 - 836 per ton, down $19 per ton from the previous trading day. The estimated price of PX in the South Korean market was $814 - 816 per ton, also down $19 per ton. Affected by the tariff storm, international oil prices fluctuated downward, squeezing the cost momentum of PX. The domestic PX was still in the destocking cycle, and there was obvious wait - and - see sentiment in the market during the port declaration period, with no transaction reported [6]. - PTA Prices in the East China Market: The price of PTA in the East China market was 4,718 yuan/ton, down 17 yuan/ton. The average daily negotiation basis was referenced to the futures contract 2509 at a premium of 10 yuan/ton, up 1 yuan/ton. An individual buyer purchased 10,000 tons of PTA, and the average basis increased slightly [6]. 3. Data Overview - The report presents multiple data charts including international crude oil futures main contract closing prices, upstream raw material spot prices, PX prices, MEG prices, PTA futures price summaries, basis spreads, PTA processing margins, TA9 - 1 spreads, PTA warehouse receipt quantities, polyester factory load rates, PTA downstream product prices, and PTA downstream product inventories. All data sources are from Wind and the Research and Development Department of CCB Futures [10][12][16]