聚酯数据日报-20250815

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints of the Report - The sentiment in the commodity market has weakened. The domestic PTA production capacity supply has contracted, and the port inventory has decreased. The spread between PX and naphtha has expanded to around $250, while the profitability of alkyl transfer and TDP is not optimistic. The spread between PX and MX has remained at around $90. The market port inventory has been depleted, and polyester replenishment has improved under the weakening basis. The basis of PTA has weakened, and the market's willingness to replenish inventory has declined [2]. - Coal prices have rebounded, leading to an increase in ethylene glycol prices. The macro - sentiment has slightly weakened, and the chemical sector has followed the weakening sentiment of bulk commodities. Overseas ethylene glycol plants, especially those in Saudi Arabia, have experienced continuous delays in maintenance, which may have a significant impact on the future market. This has also been boosting the price of ethylene glycol. The future arrival volume of ethylene glycol is expected to decrease. Polyester sales have weakened, the profit of downstream weaving has shrunk, and the terminal load has significantly declined, which has had a certain negative impact on the market [2]. Group 3: Summary by Relevant Catalogs 1. Market Quotes - PTA: The market risk preference has recovered, and the crude oil price has slightly increased during the day, strengthening the cost support. The PTA supply side has seen both restarts and maintenance. The PTA spot price has slightly increased following the futures price. On August 12, 2025, the PTA main futures price was 4726 yuan/ton, the spot price was 4705 yuan/ton, the spot processing fee was 218.3 yuan/ton, and the futures processing fee was 229.3 yuan/ton [2]. - MEG: The spot negotiation price in the Zhangjiagang ethylene glycol market this week was 4507 - 4509 yuan/ton, up 20.5 yuan/ton from the previous working day. The ethylene glycol futures have maintained a relatively strong trend, and the spot price has continued to rise, while the basis negotiation has slightly weakened [2]. 2. Industry Chain Start - up Conditions - The PX start - up rate remained at 78.11%, the PTA start - up rate remained at 76.56%, the MEG start - up rate increased by 0.59 percentage points to 58.74%, and the polyester load decreased by 0.21 percentage points to 86.88% [2]. 3. Polyester Product Data - Polyester Filament: The prices of POY150D/48F remained unchanged at 6730 yuan/ton, FDY150D/96F increased by 50 yuan/ton to 7095 yuan/ton, and DTY150D/48F increased by 30 yuan/ton to 7935 yuan/ton. The cash flows of POY, FDY, and DTY were - 51, - 186, and - 46 respectively, with changes of - 10, 40, and 20 compared to the previous day. The sales of polyester filament increased from 40% to 41% [2]. - Polyester Staple Fiber: The price of 1.4D direct - spun polyester staple fiber increased by 20 yuan/ton to 6570 yuan/ton, the cash flow increased by 10 to 139, and the sales increased from 57% to 58% [2]. - Polyester Chips: The price of semi - bright chips increased by 20 yuan/ton to 5815 yuan/ton, the cash flow increased by 10 to - 66, and the sales increased from 89% to 115% [2]. 4. Device Maintenance - A 7.2 - million - ton PTA device of a supplier in East China reduced its load to 80 - 90% last night, and the recovery time depends on the raw material logistics situation [2].