宝城期货能化板块数据周报-20250822

Report Overview - Report Date: August 22, 2025 [4] - Report Type: Weekly Report on Energy and Chemicals Sector - Author: Chen Dong [4] 1. Industry Investment Rating - No investment rating information is provided in the report. 2. Core Viewpoints - This week, the domestic energy and chemical commodity sector showed a trend of oscillating and stabilizing. The rebound of crude oil futures strengthened the cost support for downstream products, boosting the performance of the aromatic hydrocarbon, polyolefin, and oil - chemical sectors. [4] - Methanol futures rebounded after a significant decline, but the port inventory accumulation trend continued, and there were still upward resistance. Fuel oil and asphalt also had a slight inventory increase. [4] - In the aromatic hydrocarbon sector, PTA had a slight inventory increase, while ethylene glycol had a slight inventory decrease. In the polyolefin sector, plastics, PVC, polypropylene, and styrene all showed a slight inventory increase. [4] - With the improvement of the macro - environment and the increasing expectation of the Fed's interest rate cut, macro factors outweighed industrial factors. Although there was inventory pressure in the energy and chemical sector, it did not prevent the sector from oscillating and stabilizing this week. [4] 3. Summary by Related Catalogs Energy and Chemical Sector - The overall trend of the domestic energy and chemical commodity sector this week was oscillating and stabilizing, affected by cost support and macro - environment changes. [4] Rubber - There are data charts on rubber, including rubber basis, 9 - 1 month spread, futures inventory on the Shanghai Futures Exchange, Qingdao Free Trade Zone rubber inventory, and tire (full - steel and semi - steel)开工率. [6][7][9] Methanol - Data charts cover methanol basis, 9 - 1 month spread, domestic port inventory, inland social inventory, methanol - to - olefin开工率, and coal - to - methanol cost accounting. [19][21][23] Crude Oil - Charts show crude oil basis, futures inventory on the Shanghai Futures Exchange, US commercial crude oil inventory, US refinery开工率, and net position changes of WTI and Brent crude oil. [32][34][36] Fuel Oil - There are charts on the basis of domestic high - sulfur fuel oil, monthly spread, domestic production from 2016 - 2025, Singapore inventory from 2020 - 2025, global shipping index from 2022 - 2025, and futures inventory on the Shanghai Futures Exchange. [47][48][50] Asphalt - Data includes domestic asphalt basis from 2020 - 2025, monthly spread, domestic production from 2016 - 2025, import volume from 2020 - 2025, domestic refinery asphalt装置开工率, and weekly inventory on the Shanghai Futures Exchange from 2016 - 2025. [61][62][64] PTA - Charts show domestic PTA basis from 2020 - 2025, 9 - 1 month spread,装置开工率, weekly production, enterprise weekly inventory, and Zhengzhou Commodity Exchange PTA warehouse receipts. [72][74][76] Ethylene Glycol - Data includes ethylene glycol basis, 9 - 1 month spread, domestic开工率 from 2021 - 2025, weekly production, polyester industry chain开工率, and East China inventory from 2018 - 2025. [90][87][92] Styrene - There are charts on styrene basis from 2020 - 2025, 9 - 1 month spread, domestic开工率 from 2016 - 2025, factory inventory, registered warehouse receipts, and East + South China port inventory from 2020 - 2025. [99][100][102] Plastic - Data includes LLDPE basis, 9 - 1 month spread, domestic PE and LLDPE monthly production from 2019 - 2025, polyethylene import volume from 2018 - 2025, Dalian Commodity Exchange plastic warehouse receipts, and domestic plastic products data. [111][114][115] PP - Charts show polypropylene basis, 9 - 1 month spread, Taiwan's polypropylene production from 2010 - 2025, domestic PP import volume from 2016 - 2025, domestic downstream开工率, and domestic polypropylene warehouse receipts from 2020 - 2025. [133][124][126] PVC - Data includes domestic PVC basis from 2019 - 2025, 9 - 1 month spread, ethylene production from 2016 - 2025, domestic PVC import volume from 2018 - 2025, Dalian Commodity Exchange PVC warehouse receipts, and housing completion and sales area cumulative value from 2018 - 2025. [135][136][138]