建信期货MEG日报-20251030

Report General Information - Report Name: MEG Daily Report [1] - Date: October 30, 2025 [2] - Research Team: Energy and Chemical Research Team of Jianxin Futures [4] 1. Report Industry Investment Rating - Not mentioned in the report 2. Report's Core View - Currently, the fundamental drivers of ethylene glycol are insufficient, but the macro - market sentiment has weakened. With the continuous progress of Sino - US trade negotiations this week, it is expected that the market risk appetite may continue to return, and ethylene glycol is expected to rise slightly [7] 3. Summary by Relevant Catalogs 3.1行情回顾与操作建议 - Futures market: For the ethylene glycol futures on the 29th, the opening price of the main contract was 4058 yuan/ton, the highest was 4105 yuan/ton, the lowest was 4052 yuan/ton, the settlement price was 4081 yuan/ton, and the closing price was 4100 yuan/ton, up 10 yuan/ton from the previous trading day's settlement price. The total volume was 139,397 lots, and the open interest was 312,509 lots. Specifically, the closing price of EG2601 was 4100 yuan/ton, up 10 yuan, with an open interest of 312,509 lots and a decrease of 5547 lots; the closing price of EG2605 was 4175 yuan/ton, up 4 yuan, with an open interest of 21,127 lots and an increase of 335 lots [7] 3.2行业要闻 - Oil price: Investors weighed the impact of US sanctions on two major European oil companies on global supply and the possible production - increasing plan of OPEC+. International oil prices closed lower for three consecutive trading days. On Tuesday (October 28), the settlement price of the December 2025 West Texas Intermediate crude oil futures on the New York Mercantile Exchange was $60.15 per barrel, down $1.16 or 1.89% from the previous trading day, with a trading range of $59.76 - $61.50; the settlement price of the December 2025 Brent crude oil futures on the London Intercontinental Exchange was $64.4 per barrel, down $1.22 or 1.86% from the previous trading day, with a trading range of $64 - $65.76 [8] - Ethylene glycol market: In the Zhangjiagang ethylene glycol market, the spot negotiation price this week was 4175 - 4180 yuan/ton, up 17.5 yuan/ton from the previous working day; the spot negotiation price next week was 4173 - 4175 yuan/ton, and the negotiation price for November was 4172 - 4175 yuan/ton. The basis of this week's spot was at a premium of 75 - 80 yuan/ton to EG2601, the basis of next week's spot was at a premium of 73 - 75 yuan/ton to EG2601, and the basis for November was at a premium of 72 - 75 yuan/ton to EG2601. In the Fujian ethylene glycol market, the negotiation range was 4300 - 4400 yuan/ton, remaining flat from the previous working day. The short - term trading atmosphere in the ethylene glycol market has improved, and the price in the Fujian ethylene glycol market is mainly stable and under observation [8] 3.3数据概览 - The report provides multiple data charts, including PTA - MEG price difference, MEG price, MEG futures price, futures - spot price difference, international crude oil futures main contract closing price, raw material price index (ethylene), MEG downstream product price, and MEG downstream product inventory, with data sources from Wind and Jianxin Futures Research and Development Department [10][15][16][18]