聚酯产业链9月报：旺季“余额不足”，聚酯原料强弱分化-20250926

Report Information - Report Title: Polyester Industry Chain Monthly Report for September [3][14][24] - Report Date: September 26, 2025 [12][21][34] Core Viewpoint There is no explicit core viewpoint provided in the given content. Summary by Section 1. PX (Paraxylene) - Price - related Charts: Include PX产业链价格 (PX industrial chain price), PX浮动价 (PX floating price), PX月差 (PX monthly spread), PX基差 (PX basis), PX价格结构 (PX price structure), PX - BLENT价差 (PX - BLEND spread), 亚洲PXN价差 (Asian PXN spread), 韩国PX - MX价差 (Korean PX - MX spread) [11][17][19][21] - Supply - related Charts: PX月均开工率 (PX monthly average operating rate), PX进口量 (PX import volume), PX社会库存 (PX social inventory), PX平衡表 (PX balance sheet) [31][34][38] 2. PTA (Purified Terephthalic Acid) - Price - related Charts: PTA现货价格 (PTA spot price), PTA01合约现货基差 (PTA01 contract spot basis), PTA15月差 (PTA15 monthly spread), PTA - PX价差 (PTA - PX spread) [42] - Supply - demand Charts: PTA月均开工率 (PTA monthly average operating rate), PTA社会库存 (PTA social inventory), PTA出口量 (PTA export volume), PTA码头库存 (PTA terminal inventory), PTA平衡表 (PTA balance sheet) [43][45][49][50] - PTA Balance Sheet Data: From January to December 2025, data on PTA产能 (capacity), 产量 (output), 开工率 (operating rate), 进口量 (import volume), 出口量 (export volume), 净进口 (net import), 总供应 (total supply), 聚酯产能 (polyester capacity), 聚酯产量 (polyester output), PTA理论消费量 (theoretical PTA consumption), 其他领域消费量 (consumption in other fields), PTA总需求量 (total PTA demand), 库存增减 (inventory change) are provided [51] 3. MEG (Monoethylene Glycol) - Price - related Charts: MEG华东现货价格 (MEG East China spot price), MEG01合约现货基差 (MEG01 contract spot basis), MEG15月差 (MEG15 monthly spread), MEG乙烯单体制利润 (MEG ethylene monomer production profit), MEG合成气制利润 (MEG syngas production profit) [56] - Supply - demand Charts: MEG中国装置月均开工 (MEG monthly average operating rate of Chinese plants), MEG进口量 (MEG import volume), MEG主港库存 (MEG main port inventory), MEG平衡表 (MEG balance sheet) [56][61][62] - MEG Balance Sheet Data: From January to December 2025, data on MEG产能 (capacity), 产量 (output), 进口量 (import volume), 净进口 (net import), 表需 (apparent demand), 聚酯产能 (polyester capacity), 聚酯产量 (polyester output), 折合MEG消费量 (equivalent MEG consumption), 其他领域消费量 (consumption in other fields), MEG库存变化 (MEG inventory change) are provided [62] 4. Polyester Products - General Polyester: Polyester月均开工率 (polyester monthly average operating rate), 聚酯加权利润 (weighted polyester profit) [67] - Filament: 长丝开工率 (filament operating rate), 长丝平均利润 (average filament profit), 长丝库存天数 (filament inventory days) [65][71] - Staple Fiber: 短纤工厂开工率 (staple fiber factory operating rate), 短纤工厂利润 (staple fiber factory profit), 短纤库存天数 (staple fiber inventory days) [68][71] - Pure Polyester Yarn: 纯涤纱开工 (pure polyester yarn operating rate), 纯涤纱成品库存 (pure polyester yarn finished product inventory) [72] - Bottle Chip: 瓶片开工率 (bottle chip operating rate), 瓶片现货加工费 (bottle chip spot processing fee) [76][81] 5. Downstream Industries - Weaving and Dyeing: 江浙织机开工率 (Jiangsu and Zhejiang loom operating rate), 江浙加弹开工率 (Jiangsu and Zhejiang texturing machine operating rate), 江浙印染开机率 (Jiangsu and Zhejiang dyeing machine operating rate) [77][81][82] 6. Raw Material Inventory - PTA Raw Material Inventory: 聚酯工厂PTA原料库存 (PTA raw material inventory in polyester factories) [79]