聚酯数据日报-20251013
Guo Mao Qi Huo·2025-10-13 03:33

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - The polyester market is expected to run weakly as the polyester peak season is ending and the crude oil fundamentals are declining [2]. - PTA is experiencing intensified gaming, with emotions and fundamentals resonating, and a significant drop in crude oil prices. The PX market has few transactions, and polyester downstream procurement stagnated during the holidays [2]. - The ethylene glycol price is under continuous pressure due to low port inventories, limited arrivals, expected decline in overseas imports, and domestic device production [2]. 3) Summary by Relevant Catalogs Market Data - Crude Oil: INE crude oil prices dropped from 471.0 yuan/barrel on 2025/10/9 to 461.9 yuan/barrel on 2025/10/10, a decrease of 9.10 yuan/barrel [2]. - PTA: PTA - SC spread increased by 16.13 yuan/ton, PTA/SC ratio rose by 0.0115. PTA主力期价 decreased by 50.0 yuan/ton, and the spot price dropped by 10.0 yuan/ton. The spot processing fee increased by 32.3 yuan/ton, and the futures processing fee increased by 12.3 yuan/ton [2]. - MEG: MEG主力期价 dropped by 58.0 yuan/ton, and the MEG - naphtha spread increased by 3.1 yuan/ton. The MEG domestic price decreased by 18.0 yuan/ton [2]. - Industry Chain: PX and PTA operating rates remained unchanged at 85.57% and 75.70% respectively, while the MEG operating rate increased by 0.87% to 64.92%. The polyester load remained at 89.38% [2]. - Polyester Filament: POY150D/48F price decreased by 25.0 yuan/ton, FDY150D/96F price dropped by 15.0 yuan/ton, and DTY150D/48F price decreased by 45.0 yuan/ton. POY cash flow decreased by 10.0 yuan/ton, and DTY cash flow decreased by 30.0 yuan/ton [2]. - Polyester Staple Fiber: 1.4D direct - spun polyester staple fiber price decreased by 35 yuan/ton, and the short - fiber cash flow decreased by 20.0 yuan/ton [2]. - Polyester Chip: Semi - bright chip price decreased by 15.0 yuan/ton, and the chip cash flow remained unchanged [2]. Device Maintenance - A 1.25 million - ton PTA device in South China is currently restarting after shutting down around September 23, and another 1.1 million - ton PTA device has increased its load after operating at a low load last week [2].