聚酯数据日报-20260108

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Report's Core View - The PTA market shows a slight increase due to the expectation of loose monetary policy despite the decline in crude oil prices. The PTA inventory is slightly reduced, and the spot basis strengthens. The PTA processing fee has increased. The PX market has experienced a sharp rise mainly driven by speculative funds, and its fundamentals are supported. The MEG market has a weakening basis, and the supply pressure is increasing due to new device production [2]. - The polyester load remains high due to the new polyester device production, and the PTA consumption is also high. The polyester demand is affected by the domestic season, but the reduction in production by polyester factories is not enough to form a negative feedback [2]. Group 3: Summary by Relevant Catalogs Market Quotes - INE crude oil price decreased from 428.2 yuan/barrel on January 7, 2026, to 416.3 yuan/barrel on January 8, 2026 [2]. - PTA主力期价 remained at 5150 yuan/ton, and the PTA现货 price increased by 20 yuan/ton. The PTA现货加工费 rose to 331.1 yuan/ton, and the 盘面加工费 was 381.1 yuan/ton [2]. - MEG: The spot price in Zhangjiagang's ethylene glycol market increased, and the futures price showed a strong - side shock. The basis negotiation continued to weaken [2]. Price Differences and Ratios - The PX - naphtha price difference was 366 dollars, and the PX - mixed xylene price difference reached 155 dollars [2]. - The PTA/SC ratio was 1.6550, and the PTA - SC was 86.48 yuan/ton [2]. Operating Rates - The PX operating rate was 87.87%, the PTA operating rate was 77.40%, the MEG operating rate was 60.87%, and the polyester load was 88.04% [2]. Cash Flows and Sales Ratios - POY150D/48F price increased by 35 yuan/ton, and its cash flow increased by 1.0. FDY150D/96F price increased by 35 yuan/ton, and DTY150D/48F price increased by 15 yuan/ton. The cash flows of POY, FDY, and DTY changed accordingly [2]. - The sales ratios of POY, FDY, DTY, polyester staple fiber, and polyester chip varied, with the polyester staple fiber sales ratio increasing by 49% and the polyester chip sales ratio decreasing by 1% [2]. Device Maintenance - A 1.2 - million - ton PTA device in the northwest was restarted after parking at the beginning of last week [4].