宏源期货日刊-20251106

Report Summary 1) Report Industry Investment Rating - Not provided in the given content 2) Core Viewpoints - Not provided in the given content 3) Summary by Related Catalogs Price Changes - Naphtha CFR Japan price on 2025/11/5 was $577.50 per ton, up 0.17% from the previous value [1] - Ethylene Northeast Asia price on 2025/11/4 was $741.00 per ton, with no change [1] - Ethylene Oxide average price in East China on 2025/11/5 was 6000 yuan per ton, with no change [1] - Methanol MA spot price on 2025/11/5 was 2080 yuan per ton, with no change [1] - Lignite (3500) pit - mouth price in Inner Mongolia on 2025/11/5 was 290 yuan per ton, with no change [1] - DCE EG主力合约收盘价 on 2025/11/5 was 3914 yuan per ton, up 0.33% [1] - DCE EG主力合约结算价 on 2025/11/5 was 3902 yuan per ton, down 0.71% [1] - DCE EG近月合约收盘价 on 2025/11/5 was 3865 yuan per ton, up 0.13% [1] - DCE EG近月合约结算价 on 2025/11/5 was 3865 yuan per ton, down 3.81% [1] - MEG market price in East China on 2025/11/5 was 4000 yuan per ton, with no change [1] - CCFEI MEG price index on 2025/11/5 was 3985 yuan per ton, up 0.25% [1] - Near - far month price difference on 2025/11/5 was 37 yuan per ton, down from 88 yuan per ton [1] - Basis on 2025/11/5 was 71 yuan per ton, down 3 yuan [1] Operating Conditions - MEG comprehensive operating rate on 2025/11/5 was 63.74%, with no change [1] - MEG (petroleum - based) operating rate on 2025/11/5 was 66.51%, with no change [1] - MEG (coal - based) operating rate on 2025/11/5 was 59.57%, with no change [1] - PTA industrial chain polyester factory load rate on 2025/11/5 was 89.56%, with no change [1] - PTA industrial chain Jiangsu and Zhejiang looms load rate on 2025/11/5 was 82.28%, with no change [1] Cash Flow - Naphtha - based MEG cash flow on 2025/11/4 was -$146.97 per ton, down $10.76 [1] - Ethylene - based MEG cash flow on 2025/11/4 was $112.65 per ton, up $10.00 [1] - MTO - based MEG after - tax gross profit on 2025/11/5 was 1486.22 yuan per ton, up 19.91 yuan [1] - Coal - based MEG after - tax gross profit on 2025/11/5 was - 142.04 yuan per ton, down 39.83 yuan [1] Polyester Price Index - CCFEI polyester DTY price index on 2025/11/5 was 8500 yuan per ton, with no change [1] - CCFEI polyester POY price index on 2025/11/5 was 6825 yuan per ton, with no change [1] - CCFEI polyester staple fiber price index on 2025/11/5 was 6345 yuan per ton, down 0.08% [1] - CCFEI bottle - grade chip price index on 2025/11/5 was 5690 yuan per ton, down 0.44% [1]