建信期货MEG日报-20250716

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - Short - term ethylene glycol fundamentals are in a multi - empty stalemate, with high macro - level uncertainties and some risk - aversion sentiment among market participants. It is expected that ethylene glycol prices will maintain range - bound fluctuations [7] 3. Summary by Directory 3.1行情回顾与操作建议 - On the 15th, the opening price of the main ethylene glycol futures contract 2509 was 4365, the highest was 4365, the lowest was 4316, the settlement was 4338, and the closing was 4322, a decrease of 9 compared to the previous trading day's settlement price. The total volume was 157,709 lots, and the open interest was 286,969 lots [7] - The closing price of EG2509 was 4322 yuan/ton, down 9, with an open interest of 286,969 lots, a decrease of 1899; the closing price of EG2601 was 4336 yuan/ton, down 20, with an open interest of 14,450 lots, an increase of 1800 [7] 3.2行业要闻 - 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 Monday (July 14), the settlement price of West Texas Light Crude Oil futures for August 2025 on the New York Mercantile Exchange was $66.98 per barrel, a decrease of $1.47 or 2.15% from the previous trading day, with a trading range of $66.80 - $69.65; the settlement price of Brent crude oil futures for September 2025 on the London Intercontinental Exchange was $69.21 per barrel, a decrease of $1.15 or 1.63% from the previous trading day, with a trading range of $69.02 - $71.53 [8] - In the Zhangjiagang ethylene glycol market, the spot negotiation this week was 4389 - 4392 yuan/ton, a decrease of 9.5 yuan/ton from the previous working day. The negotiation for late July was 4390 - 4392 yuan/ton, and for late August was 4389 - 4392 yuan/ton. The current - week spot basis was at a premium of 67 - 70 yuan/ton compared to EG2509, the basis for late July was at a premium of 68 - 70 yuan/ton compared to EG2509, and the basis for late August was at a premium of 67 - 70 yuan/ton compared to EG2509 [8] - The negotiation range in the Fujian ethylene glycol market was 4300 - 4400 yuan/ton, unchanged from the previous working day. The short - term trading atmosphere in the ethylene glycol market has improved, and the price in the Fujian ethylene glycol market is mainly stable and waiting for observation [8] 3.3数据概览 - The report provides multiple data charts, including MEG futures prices, spot - futures price differences, international crude oil futures main contract closing 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]