建信期货PTA日报-20250915

Group 1: General Information - Report title: PTA Daily Report [1] - Date: September 15, 2025 [2] - Research team: Energy and Chemical Research Team [4] Group 2: Market Review and Operation Suggestions - Futures market: On the 12th, the closing price of PTA's main futures contract TA2601 was 4,648 yuan/ton, down 40 yuan/ton (0.85%), with a settlement price of 4,648 yuan/ton and an increase of 20,678 lots in open interest. The TA2605 contract closed at 4,688 yuan/ton, down 32 yuan/ton, with a trading volume of 15,451 lots and an increase of 2,214 lots [6] - Market outlook: Crude oil prices are weak, downstream demand fails to peak, market sentiment is cautious, and PTA supply is expected to increase. Therefore, the PTA market is expected to be weak [6] Group 3: Industry News - International oil prices: Concerns about weak US demand and global supply glut offset the impact of military actions on oil production. On Thursday (September 11), the settlement price of WTI crude oil futures for October 2025 on the New York Mercantile Exchange was $62.37 per barrel, down $1.30 (2.04%), trading in the range of $62.21 - $63.80. The settlement price of Brent crude oil futures for November 2025 on the London Intercontinental Exchange was $66.37 per barrel, down $1.12 (1.66%), trading in the range of $66.15 - $67.62 [7] - PX prices: The assessed price of PX in the Chinese market was $831 - $833 per ton, down $6 per ton; the assessed price in the South Korean market was $811 - $813 per ton, down $6 per ton. There was no reported transaction in the market due to an increasingly bearish sentiment [7] - PTA prices: The price of PTA in the East China market was 4,587 yuan/ton, down 28 yuan/ton. The average daily negotiation basis was at a discount of 69 yuan/ton to the futures contract 2601, up 4 yuan [7] Group 4: Data Overview - The report includes various data charts, such as PTA futures prices, spot-futures price differences, PX prices, MEG prices, PTA processing margins, TA5 - 9 spreads, PTA warehouse receipts, polyester factory load rates, PTA downstream product prices, and PTA downstream product inventories, all sourced from Wind and the Research and Development Department of CCB Futures [11][13][17]