聚酯数据日报-20251222

Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - PTA prices rose due to cost support and good downstream polyester filament sales, and the market has factored in the positive supply - demand outlook for PX and PTA next year. Although PTA profit is under pressure, the economic benefits of integrated enterprises have improved significantly. The polyester load remains high, and demand is expected to be additionally supported by the cancellation of India's BIS certification. [2] - The price of ethylene glycol is difficult to get effective support due to the continuous decline of coal prices, and the market supply pressure continues to increase with the commissioning of new plants. However, the increase in polyester export inquiries is expected to support downstream weaving and keep the overall demand outlook optimistic. [2] 3. Summary by Relevant Catalogs 3.1 Market Data Changes - INE crude oil price dropped from 429.4 yuan/barrel to 426.6 yuan/barrel, a decrease of 2.8 yuan/barrel; PTA - SC increased from 1627.5 yuan/ton to 1781.9 yuan/ton, an increase of 154.35 yuan/ton; PTA/SC ratio rose from 1.5216 to 1.5748, an increase of 0.0532. [2] - CFR China PX price increased from 840 to 866, an increase of 26; PX - naphtha spread rose from 307 to 335, an increase of 28. [2] - PTA main contract futures price increased from 4748 yuan/ton to 4882 yuan/ton, an increase of 134 yuan/ton; PTA spot price rose from 4650 yuan/ton to 4750 yuan/ton, an increase of 100 yuan/ton. [2] - MEG main contract futures price dropped from 3767 yuan/ton to 3738 yuan/ton, a decrease of 29 yuan/ton; MEG domestic price decreased from 3667 yuan/ton to 3633 yuan/ton, a decrease of 34 yuan/ton. [2] 3.2 Industry Chain Start - up - PX, PTA, MEG start - up rates and polyester load remained unchanged, at 86.48%, 74.77%, 60.43% and 88.41% respectively. [2] 3.3 Product Cash Flow and Sales - Among polyester filaments, the cash flow of POY, FDY and DTY decreased by 89, 119 and 74 respectively, and the sales volume increased by 248% to 294%. [2] - For polyester staple fibers, the cash flow decreased by 24, and the sales volume decreased by 1% to 75%. [2] - For polyester chips, the cash flow decreased by 9, and the sales volume decreased by 28% to 88%. [2] 3.4 Device Maintenance - A 2.5 - million - ton PTA plant in East China is currently restarting and is expected to produce products soon. The plant stopped for maintenance around November 17. [2]