国投期货化工日报-20251118

Report Industry Investment Ratings - Olefins: ★☆☆ [1] - Plastic: ★☆☆ [1] - Polypropylene: ★☆☆ [1] - Pure Benzene: ★☆☆ [1] - Styrene: ★☆☆ [1] - PTA: ★★★ [1] - Ethylene Glycol: ★☆☆ [1] - Short Fiber: ★★★ [1] - Bottle Chip: ★☆☆ [1] - Methanol: ★☆☆ [1] - Urea: ★☆☆ [1] - PVC: ★☆★ [1] - Caustic Soda: ★★★ [1] - Soda Ash: ★★★ [1] - Glass: ★★★ [1] Report's Core Viewpoints - The overall chemical market shows a mixed trend, with some products facing supply - demand imbalances and price fluctuations [2][3][5] - Some products are affected by factors such as overseas market conditions, domestic production capacity changes, and seasonal demand [2][5][6] Summary by Related Catalogs Olefins - Polyolefins - Olefin futures contracts declined. Propylene spot prices are supported due to restart of downstream plants and low inventory [2] - Plastic and polypropylene futures declined. Supply pressure persists, but prices may rebound technically [2] Pure Benzene - Styrene - Overseas pure benzene rebounded, but lacks sustainability. Domestic pure benzene faces supply pressure and weak demand [3] - Styrene futures declined. Supply - demand is in tight balance, and port inventory is expected to decrease [3] Polyester - PX supports PTA prices, but demand is weakening. PTA processing margin fluctuates with PX [5] - Ethylene glycol supply is increasing, and port inventory is expected to accumulate. A bearish view is maintained [5] Coal Chemical Industry - Methanol prices are weak due to high inventory and weak demand [6] - Urea prices may be strong before the Indian tender, but there is a risk of decline [6] Chlor - Alkali Industry - PVC prices declined due to weak cost support and high supply [7] - Caustic soda prices are weak due to high supply and low demand [7] Soda Ash - Glass - Soda ash prices declined due to lower cost. The long - term supply - demand is in surplus [8] - Glass prices declined. Mid - stream inventory is high, and short - term trading is recommended to be cautious [8]