建信期货MEG日报-20250923

Group 1: Report Information - Report Name: MEG Daily Report [1] - Date: September 23, 2025 [2] - Research Team: Energy and Chemical Research Team [4] Group 2: Market Review and Operation Suggestions - Futures Market: The closing price of EG2601 was 4240 yuan/ton, down 19 yuan; the closing price of EG2605 was 4294 yuan/ton, down 20 yuan. The trading volume of the main contract was 113147 lots, and the open interest was 329607 lots [7]. - Market Outlook: The supply pressure of ethylene glycol has further increased, but the tight spot liquidity and the arrival of the downstream peak season have provided some support for the price. The market direction is less clear, and it is expected that ethylene glycol may run weakly in the short term [7]. Group 3: Industry News - International Oil Prices: Concerns about oversupply and falling demand outweighed expectations that the Fed's first rate cut this year would boost consumption, causing international oil prices to fall for the third consecutive day. The settlement price of WTI crude oil futures for October 2025 on the New York Mercantile Exchange was $62.68 per barrel, down $0.89 or 1.40% [8]. - Ethylene Glycol Spot Market: The mainstream transaction price of ethylene glycol in Zhangjiagang market was 4320 - 4350 yuan/ton, up 12.5 yuan/ton from the previous trading day. The prices in Dongguan and Fujian markets remained unchanged [8]. Group 4: Data Overview - Data Sources: All data in the report are from Wind and the Research and Development Department of CCB Futures [7][11][12] - Data Charts: The report includes charts on PTA - MEG spread, MEG price, MEG futures price, spot - futures price difference, international crude oil futures closing price, raw material price index (ethylene), MEG downstream product prices, and MEG downstream product inventories [10][15][16]