宏源期货日刊-20250926

Report Summary 1. Report Industry Investment Rating - No information provided in the document. 2. Core View - No information provided in the document. 3. Summary by Relevant Catalog Price Changes - The spot price of naphtha CFR Japan on 2025/9/25 was $608.50 per ton, up 0.41% from the previous value [1]. - The price of ethylene in Northeast Asia on 2025/9/24 was $841.00 per ton, down 0.59% from the previous value [1]. - The ex - factory price of cycloethane in East China remained unchanged at 6300 yuan per ton [1]. - The spot price of methanol MA on 2025/9/25 was 2255 yuan per ton, with no change [1]. - The tax - included pit - mouth price of lignite in Inner Mongolia on 2025/9/25 was 290 yuan per ton, unchanged [1]. - The closing price of DCE EG主力合约 on 2025/9/25 was 4246 yuan per ton, up 0.28% [1]. - The settlement price of DCE EG主力合约 on 2025/9/25 was 4249 yuan per ton, up 0.52% [1]. - The closing price of DCE EG near - month contract on 2025/9/25 was 4175 yuan per ton, up 0.87% [1]. - The settlement price of DCE EG near - month contract on 2025/9/25 was 4175 yuan per ton, up 0.87% [1]. - The market price of ethylene glycol in East China on 2025/9/25 was 4300 yuan per ton, unchanged [1]. - The CCFEI price index of ethylene glycol (MEG) inner - market on 2025/9/25 was 4305 yuan per ton, unchanged [1]. - The near - far month price difference on 2025/9/25 was 74 yuan per ton, down 14 yuan from the previous value [1]. - The CCFEI price index of polyester DTY on 2025/9/25 was 8475 yuan per ton, down 0.59% [1]. - The CCFEI price index of polyester POY on 2025/9/25 was 6850 yuan per ton, down 0.72% [1]. - The CCFEI price index of polyester staple fiber on 2025/9/25 was 665 yuan per ton, up 0.23% [1]. - The basis on 2025/9/25 was 59 yuan per ton, down 12 yuan from the previous value [1]. - The CCFEI price index of bottle - grade chips on 2025/9/25 was 5790 yuan per ton, up 0.70% [1]. Operating Conditions - The overall operating rate of ethylene glycol on 2025/9/25 was 62.6%, unchanged [1]. - The operating rate of ethylene glycol (petroleum - based) on 2025/9/25 was 65.72%, unchanged [1]. - The operating rate of ethylene glycol (coal - based) on 2025/9/25 was 58.14%, unchanged [1]. - The load rate of polyester factories in the PTA industrial chain on 2025/9/25 was 87.81%, up 0.08% [1]. - The load rate of Jiangsu and Zhejiang looms in the PTA industrial chain on 2025/9/25 was 69.19%, up 1.64% [1]. Gross Margin - The after - tax gross margin of MTO MEG on 2025/9/25 was 1519.03 yuan per ton, down 4.66 yuan from the previous value [1]. - The after - tax gross margin of the coal - based synthesis gas method device on 2025/9/25 was 293.81 yuan per ton, up 6.64 yuan from the previous value [1]. External Market - The external market price of naphtha - based ethylene glycol on 2025/9/24 was $130.86 per ton, up $10.40 from the previous value [1]. - The external market price of ethylene - based ethylene glycol on 2025/9/24 was $139.65 per ton, down $3.25 from the previous value [1].