建信期货MEG日报-20250805

Report Information - Report Date: August 5, 2025 [2] - Report Type: MEG Daily Report [1] - Research Team: Energy and Chemical Research Team [4] Investment Rating - No investment rating information provided Core View - The current supply - demand structure of ethylene glycol is weak, and with the weakening of macro - positive support, the short - term price of ethylene glycol is expected to continue its weak trend [7] Summary by Section 1. Market Review and Operation Suggestions - Futures Market: On the 4th, the opening price of the main ethylene glycol futures contract 2509 was 4402 yuan/ton, the highest was 4402 yuan/ton, the lowest was 4361 yuan/ton, the settlement price was 4375 yuan/ton, and the closing price was 4389 yuan/ton, a decrease of 17 yuan compared with the previous trading day's settlement price. The total volume was 128,439 lots, and the open interest was 232,536 lots. The EG2509 contract closed at 4389 yuan/ton, down 17 yuan, with an open interest of 232,536 lots, a decrease of 6879 lots; the EG2601 contract closed at 4417 yuan/ton, down 21 yuan, with an open interest of 42,314 lots, an increase of 4673 lots [7] 2. Industry News - Crude Oil: Due to concerns that OPEC and its eight - nation production - limiting alliance may further increase crude oil production in September, international oil prices fell nearly 3%. However, due to Trump's erratic tariff threats and sanctions against Russia and its trading partners, European and American crude oil futures rose about 3% net. On August 1st, the settlement price of the West Texas Intermediate crude oil futures contract for September 2025 on the New York Mercantile Exchange was $67.33 per barrel, a decrease of $1.93 from the previous trading day, a decline of 2.79%, with a trading range of $67.05 - $69.58; the settlement price of the Brent crude oil futures contract for October 2025 on the London Intercontinental Exchange was $69.67 per barrel, a decrease of $2.03 from the previous trading day, a decline of 2.83%, with a trading range of $69.40 - $72.00 [8] - Ethylene Glycol Market: In the Zhangjiagang ethylene glycol market, the spot negotiation this week was 4467 - 4468 yuan/ton, a decrease of 12.5 yuan/ton compared with the previous working day. The negotiation for next - week's spot was 4468 - 4469 yuan/ton, and the negotiation for late August was 4468 - 4469 yuan/ton. The current - week spot basis was at a premium of 78 - 79 yuan/ton compared with EG2509, next - week's spot basis was at a premium of 79 - 80 yuan/ton compared with EG2509, and the late - August basis was at a premium of 79 - 80 yuan/ton compared with EG2509. 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 remains stable for the time being [8] 3. Data Overview - Multiple data charts are provided, including PTA - MEG price difference, MEG price, MEG futures price, futures - spot price difference, international crude oil futures main - contract closing price, raw material price index (ethylene), MEG downstream product price, and MEG downstream product inventory, with data sources from Wind and the Research and Development Department of CCB Futures [10][15][16][18]