PX PTA MEG基本面数据：对二甲苯：跟随回调，月差反套；PTA：跟随回调，月差反套；MEG：单边跟随成本端回调，月差反套

Report Industry Investment Rating - Not provided Core Viewpoints - PX is expected to experience a short - term callback and engage in reverse calendar spread trading. PTA will follow the cost - side callback in the short term and focus on reverse calendar spread trading at high levels. MEG should close long positions around 4200 - 4300, with support below 4000. The 5 - 9 calendar spread long positions should be closed. [1][5] Summary by Related Catalogs Market Price and Fluctuation - Futures: The closing prices of PX, PTA, MEG, PF, and SC futures on the previous day were 8902, 6200, 4305, 7620, and 666.3 respectively, with price drops of - 126, - 116, - 292, - 160, and - 105.5 and percentage drops of - 1.40%, - 1.84%, - 6.35%, - 2.06%, and - 13.67% respectively. The month - spreads of PX5 - 9, PTA5 - 9, MEG5 - 9, PF3 - 4, and SC2 - 3 also changed, with price changes of 66, 54, - 100, - 40, and - 5.2 respectively. [2] - Spot: The spot prices of PX CFR China, PTA in East China, MEG, naphtha MOPJ, and Dated Brent on the previous day were 1157.33 dollars/ton, 6360 yuan/ton, 4188 yuan/ton, 841.5 dollars/ton, and 87.94 dollars/barrel respectively, with price drops of - 188.34 dollars/ton, - 425 yuan/ton, - 622 yuan/ton, - 150 dollars/ton, and - 14.9 dollars/barrel respectively. [2] - Spot processing fees: The spot processing fees such as PX - naphtha spread, PTA processing fee, short - fiber processing fee, bottle - chip processing fee, and MOPJ naphtha - Dubai crude oil spread also changed. For example, the PX - naphtha spread increased by 17 dollars/ton, while the PTA processing fee decreased by 35.45 yuan/ton. [2] Market Conditions - On March 10, Asian xylene prices fell during the trading session. The PX market lost upstream support and partially reversed the previous day's gains. The upstream ICE Brent futures and Platts - evaluated naphtha C + F Japan index also declined. [3] - In the Asian trading session on the afternoon of March 10, crude oil futures fell as world leaders announced measures to ease supply risks. PTA and PX futures also closed lower than the previous trading day. Some market participants adopted a wait - and - see attitude, and a trader expected the reverse trading structure to continue. [4] Supply - side Changes - For PX, the supply reduction is limited. Ningbo Daxie had a short - term shutdown, and the shipping speed of Japan's ENEOS slowed down. [5] - For MEG, a 1.8 - million - ton/year synthetic - gas - to - ethylene - glycol plant in Shaanxi started partial capacity maintenance today, expected to last about 3 weeks. A 620,000 - ton/year ethylene - glycol plant in Kuwait has recently shut down, and the restart time will be followed up. [4][5] Trend Intensity - The trend intensities of p - xylene, PTA, and MEG are all - 1, indicating a relatively bearish outlook. [4]