建信期货MEG日报-20250821

Report Information - Report Name: MEG Daily Report [1] - Date: August 21, 2025 [2] Market Review and Operation Suggestions - Futures Market: EG2509 closed at 4427 yuan/ton, up 64 yuan, with a position of 90895 lots, a decrease of 24490 lots; EG2601 closed at 4477 yuan/ton, up 71 yuan, with a position of 329548 lots, an increase of 30170 lots. On the 20th, the main contract of ethylene glycol futures 2601 opened at 4418, with a maximum of 4536, a minimum of 4385, a settlement of 4452, and a close of 4477, up 71 yuan from the previous trading day's settlement price. The total volume was 329548 lots, and the position was 237013 lots [7]. - Market Outlook: The short - term ethylene glycol market is boosted by the warming market sentiment, but the actual impact of policy - end factors is relatively small at present. It is expected that the market sentiment will cool down in the future, and the market may return to a volatile consolidation trend [7]. Industry News - International Oil Prices: Traders weighed the possibility that the negotiations to end the Ukraine conflict between a European country, Ukraine and the United States might lead to the lifting of sanctions on the European country's crude oil trading, increasing supply. International oil prices fell. On Tuesday (August 19), the settlement price of West Texas Intermediate crude oil futures for September 2025 on the New York Mercantile Exchange was $62.35 per barrel, down $1.07 from the previous trading day, a decrease of 1.69%, with a trading range of $62.25 - $63.39; the settlement price of Brent crude oil futures for October 2025 on the London Intercontinental Exchange was $65.79 per barrel, down $0.81 from the previous trading day, a decrease of 1.22%, with a trading range of $65.61 - $66.58 [8]. - Zhangjiagang MEG Market: The spot negotiation price in the Zhangjiagang ethylene glycol market this week was 4514 - 4515 yuan/ton, up 59.5 yuan/ton from the previous working day. The negotiation price for late August was 4514 - 4515 yuan/ton, and for late September was 4513 - 4515 yuan/ton. The spot basis was at a premium of 89 - 90 yuan/ton over EG2509, the basis for late August cargo was at a premium of 89 - 90 yuan/ton over EG2509, and the basis for late September was at a premium of 87 - 90 yuan/ton over EG2509 [8]. - Polyester Staple Fiber: The main futures price of polyester staple fiber rose, the prices of staple fiber factories remained stagnant, the prices of traders were slow to follow the rise, downstream buyers were cautious about chasing high prices, and the on - site trading was scarce. The mainstream sales rate of factories was 48.70%, with specific data: 40%, 60%, 50%, 50%, 40%, 80%, 26%, 60% [8]. Data Overview - 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 spreads, 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]