对二甲苯：成本支撑偏弱，但终端需求改善，月差仍偏强，PTA：弱现实强预期，月差反套

Report Industry Investment Ratings - No specific industry investment ratings are provided in the report. Core Views - The report provides trend outlooks for various energy - chemical futures, including PX, PTA, MEG, rubber, etc., with different trends such as strong, weak, and neutral [2][10][11]. - For each commodity, the report analyzes factors like cost, supply, demand, and inventory to form views and suggestions on trading strategies [10][11][36]. Summary by Related Catalogs PX, PTA, MEG - PX: Cost support is weak, but terminal demand improves, and the 9 - 1 month - spread continues to strengthen. PX may be stronger than oil prices, but the upside space is limited. Attention should be paid to the restart progress of Fuhua Group [10]. - PTA: The unilateral price is in a volatile market with limited downside space. The supply is marginally tightened, and the demand improves month - on - month. It is recommended to maintain the 9 - 1 reverse spread [11]. - MEG: Import arrivals decrease, and there is marginal destocking. The 9 - 1 month - spread should be operated in the range of - 50 to 0, and the 1 - 5 reverse spread is recommended. The basis strengthens [11]. Rubber - The rubber market is in a weakly volatile trend. The trading volume and open interest of the futures market increase, and the basis and spread show certain changes. The automobile industry has policy support, but there are still limitations to the growth of commercial vehicle production and sales [12][13][15]. Synthetic Rubber - In the short - term, there is a callback, and in the medium - term, it remains range - bound. The inventory of high - cis polybutadiene rubber has decreased. In the short - term, the support from butadiene weakens, while in the medium - term, there are factors supporting the price [16][18]. Asphalt - The shipment is not good, and it is difficult for crude oil to be bullish. The production volume in September is expected to increase, and the factory inventory has accumulated. The market is in a neutral trend [19][33]. LLDPE - It is in a range - bound trend. The cost decreases due to the decline in crude oil prices. The supply pressure increases, but there may be a phased relief in September. The demand will improve gradually, and the inventory provides some support [35][36]. PP - The trend is weak, but short - selling at low levels should be cautious. The cost is weak, the demand has no obvious highlights, and the supply pressure increases. However, there is uncertainty in the cost, and attention should be paid to the low - level support [38][39]. Caustic Soda - It should be treated bullishly, but attention should be paid to the near - month warehouse receipts. The demand is expanding, especially the demand from alumina. The export support is strong, but the weakness of chlorine - consuming downstream may limit the profit expansion [42][43]. Pulp - It is in a volatile trend. The trading volume and open interest of the futures market increase, and the basis strengthens. The international price of pulp is weak, and the demand market is sluggish [45][47]. Glass - The price of the original sheet is stable. The futures price decreases, and the basis weakens. The market trading is average, but the downstream rigid demand has increased slightly [51][52]. Methanol - It is in a volatile trend. The port inventory accumulates, and in the short - term, the 01 contract is weak due to the high inventory. In the medium - term, there are factors supporting the price [54][57]. Urea - In the short - term, it is driven by news, and the upside space is narrowing. The enterprise inventory has increased, and the market speculation is strong. Attention should be paid to the spot trading and speculative sentiment [59][60]. Soda Ash - The spot market changes little. The market is weakly volatile, the supply is high, and the downstream demand is average [62][64]. LPG and Propylene - LPG: There is still a risk of a squeeze in the near - month contract. The futures prices of different contracts show certain changes, and the spread also changes [67][68]. - Propylene: The cost support is weak. The PDH and other industrial chain operating rates show some changes [68]. PVC - The trend is weak. India's anti - dumping tax on PVC exports from China will affect export competitiveness. The supply is at a high level, the domestic demand is weak, and the inventory accumulates [75]. Fuel Oil and Low - Sulfur Fuel Oil - Fuel Oil: It is in a weakly volatile trend with reduced short - term fluctuations. - Low - Sulfur Fuel Oil: It is in a narrow - range consolidation, and the spread between high - and low - sulfur spot prices in the external market rebounds slightly [78]. Container Freight Index (European Line) - It is in a volatile consolidation, and it is advisable to hold 10 short positions as appropriate. The futures prices of different contracts change, and the freight rates of European and US - West routes show different trends [80].