Report Overview - Report Name: Jinxin Futures PTA Ethylene Glycol Daily - Date: October 16, 2025 - Reported Companies: PTA, MEG PTA Analysis Market Data - On October 16, the basis of the main contract TA2601 was -106 yuan/ton, a decrease of -21 yuan/ton from the previous day. The market price in East China was 4360 yuan/ton, an increase of 35 yuan/ton from the previous day [2]. Fundamental Analysis - The cost - end crude oil stabilized after continuous decline. Driven by the petrochemical sector, the main PTA futures contract rose 1.00% today. The PTA capacity utilization rate was 76.46%, unchanged from the previous day. There were many overhauls and changes in the equipment under low processing fees recently. The inventory days of PTA factories within the week were 4.22 days, a month - on - month increase of 0.47 days [3]. Main Force and Trend - There were differences among long and short main forces. The PTA futures market followed the cost - end with a gap - down and low - running trend. The restart and load - reduction of PTA's own equipment were concurrent, and the commissioning of new production capacity was delayed, currently having limited impact on the market. The spot basis was running weakly. It is expected that the PTA spot price will fluctuate mainly affected by the cost - end in the short term [3]. MEG Analysis Market Data - On October 16, the basis of the main contract eg2601 was 9 yuan/ton, a decrease of 62 yuan/ton from the previous day. The market price in East China was 4098 yuan/ton, a decrease of 30 yuan/ton from the previous day [4]. Fundamental Analysis - The cost - end crude oil stabilized after continuous decline, and the coal price rose. Today, the main MEG futures contract rose 1.01%. The total inventory of MEG ports in East China within the week was 445,100 tons, a month - on - month increase of 40,800 tons [4]. Main Force and Expectation - The short main force reduced positions. It is expected that the supply - demand pattern of ethylene glycol will shift to inventory accumulation starting from October, and there is continuous pressure for inventory accumulation in the far - month. The market sentiment is under obvious pressure. Terminal foreign trade orders are still few, and the profit margin of the domestic market continues to narrow, and the industry as a whole is under pressure. It is expected that the ethylene glycol market will be weak in the short term, and the sustainability of the rise is doubtful [4].
金信期货PTA乙二醇日刊-20251016
Jin Xin Qi Huo·2025-10-16 11:14