聚酯数据日报-20250911

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The PTA market is affected by a small increase in crude oil prices, but the ample PTA spot and poor promotion results of downstream polyester filament lead to a slight weakening of the PTA spot basis. The domestic PTA production is rising as domestic PTA plants gradually resume operation, and the PTA basis is dropping rapidly. OPEC+ will increase oil production again at the Sunday meeting. The downstream profits are significantly repaired, and the operating load of polyester has rebounded to 91%. - The ethylene glycol (MEG) basis is weakening, and the upcoming commissioning of Yulong Petrochemical's MEG plant exerts pressure on the futures market. The arrival of overseas MEG plants has decreased, but the hedging volume has increased after the price recovery. The polyester inventory is in good condition, and the operating load of downstream weaving has increased [2] 3. Summary by Related Catalogs 3.1 Market Data Comparison - INE Crude Oil and PTA-SC: On September 9th, INE crude oil was 482.8 yuan/barrel, and PTA - SC was 1169.4 yuan/ton. On September 10th, INE crude oil rose to 486.2 yuan/barrel, and PTA - SC dropped to 1164.7 yuan/ton. The PTA/SC ratio decreased from 1.3333 to 1.3296 [2] - CFR China PX and Related Indicators: CFR China PX increased from 836 to 838, and the PX - naphtha spread decreased from 242 to 241 [2] - PTA Indicators: The PTA主力期价 rose from 4678 yuan/ton to 4698 yuan/ton, the PTA现货价格 increased from 4605 to 4625, the 现货加工费 rose from 123.4 yuan/ton to 134.3 yuan/ton, and the 盘面加工费 increased from 196.4 yuan/ton to 202.3 yuan/ton. The PTA仓单数量 decreased from 19877 to 11842 [2] - MEG Indicators: The MEG主力期价 decreased from 4322 yuan/ton to 4319 yuan/ton, the MEG内盘 dropped from 4454 to 4439, and the MEG - naphtha spread increased from (111.77) to (110.96). The MEG主力基差 decreased from 136 to 118 [2] - Industry Chain Operating Rates: The PX开工率 remained at 82.59%, the PTA开工率 remained at 78.25%, the MEG开工率 remained at 60.74%, and the 聚酯负荷 increased slightly from 88.16% to 88.25% [2] - Polyester Filament and Fiber Data: For polyester filament, POY150D/48F decreased from 6805 to 6725, FDY150D/96F decreased from 7090 to 7025, and DTY150D/48F remained unchanged at 8015. The 长丝产销 increased from 44% to 69%. For polyester short - fiber, 1.4D直纺涤短 remained at 6540, and the 短纤产销 increased from 44% to 55%. For polyester chips, the 半光切片 increased from 5755 to 5770, and the 切片产销 increased from 146% to 198% [2] 3.2 Device Maintenance - A 2.5 - million - ton PTA plant in East China restarted last weekend after shutting down for maintenance around August 26 [2]