建信期货PTA日报-20250729

Report Overview - Report Title: PTA Daily Report - Report Date: July 29, 2025 - Reported Industry: PTA Industry 1. Investment Rating - No investment rating provided in the report 2. Core View - The PTA market lacks new positive factors. With the overall decline of bulk chemicals and insufficient rebound momentum in the crude oil market, the PTA market is expected to experience a slight decline [6] 3. Summary by Section 3.1 Market Review and Operational Suggestions - Futures Market: On the 28th, the closing price of the PTA main futures contract TA2509 was 4,812 yuan/ton, down 90 yuan/ton or 1.84%, with a settlement price of 4,852 yuan/ton and a daily position reduction of 88,775 lots. The closing price of TA2601 was 4,810 yuan/ton, down 60 yuan/ton, with a total volume of 347,535 lots and a decrease of 12,957 lots [6] 3.2 Industry News - International Oil Prices: International oil prices closed lower after minor fluctuations. On July 25th, the settlement price of WTI crude oil futures for September 2025 was $65.16 per barrel, down $0.87 or 1.32%. The settlement price of Brent crude oil futures for September 2025 was $68.44 per barrel, down $0.74 or 1.07% [7] - PX Market: The assessed price of the PX market in China was $851 - 853 per ton, down $22 per ton from the previous trading day. The assessed price in the South Korean market was $831 - 833 per ton, also down $22 per ton. There were three transactions reported, with September cargoes traded at $855 and $854 per ton, and October cargoes at $848 per ton [7] - PTA Market in East China: The PTA price in the East China market was 4,836 yuan/ton, down 58 yuan/ton. The average daily negotiation basis was at a discount of 5 yuan/ton to the futures contract 2509, up 3 yuan/ton [7] 3.3 Data Overview - The report provides multiple data charts, including PTA futures prices, international crude oil futures prices, upstream raw material spot prices, PX prices, MEG prices, PTA processing margins, TA5 - 9 spreads, PTA warehouse receipts, 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][11][13]