Group 1: General Information - Report Date: November 6, 2025 [2] - Report Industry: MEG (Monoethylene Glycol) [1] - Research Team Members: Li Jie (Crude Oil and Fuel Oil), Ren Junchi (PTA, MEG), Peng Haozhou (Urea, Industrial Silicon), Peng Jinglin (Polyolefins), Liu Youran (Pulp), Feng Zeren (Glass and Soda Ash) [4] Group 2: Market Review and Operation Suggestions - Futures Market: EG2601 closed at 3,914 yuan/ton, down 16 yuan, with a position of 353,616 lots, a decrease of 3,174 lots; EG2605 closed at 4,005 yuan/ton, down 2 yuan, with a position of 33,215 lots, an increase of 2,765 lots. On the 5th, the main contract of ethylene glycol futures opened at 3,880 yuan/ton, reached a high of 3,928 yuan/ton, a low of 3,874 yuan/ton, and settled at 3,902 yuan/ton, closing at 3,914 yuan/ton, down 16 yuan from the previous trading day's settlement price. The total volume was 191,177 lots, and the position was 353,616 lots [7] - Market Outlook: The current supply - demand expectation of ethylene glycol remains weak, but after the recent continuous decline in ethylene glycol prices, the low - level buying has increased. It is expected that the ethylene glycol price may maintain a volatile consolidation [7] Group 3: Industry News - Crude Oil Market: Manufacturing data weakness and a stronger US dollar have pressured the US - dollar - denominated crude oil futures market. The market is digesting OPEC+'s decision to increase production in December and suspend production increases in the first quarter of next year. International oil prices fell after four consecutive days of slight increases. On Tuesday (November 4), the settlement price of West Texas Intermediate crude oil futures for December 2025 on the New York Mercantile Exchange was $60.56 per barrel, down $0.49 or 0.80% from the previous trading day, trading in the range of $59.94 - $61.03 per barrel; the settlement price of Brent crude oil futures for January 2026 on the London Intercontinental Exchange was $64.44 per barrel, down $0.45 or 0.69% from the previous trading day, trading in the range of $63.82 - $64.8 per barrel [8] - Ethylene Glycol Market in Zhangjiagang: The spot negotiation price of ethylene glycol in Zhangjiagang this week was 3,987 - 3,989 yuan/ton, down 9.5 yuan/ton from the previous working day; next - week's spot negotiation price was 3,985 - 3,989 yuan/ton, and the negotiation price for late November was 3,985 - 3,987 yuan/ton. The current - week spot basis was at a premium of 70 - 72 yuan/ton compared to EG2601, next - week's spot basis was at a premium of 68 - 72 yuan/ton compared to EG2601, and the basis for late November was at a premium of 68 - 70 yuan/ton compared to EG2601. Today, ethylene glycol futures rebounded slightly, the spot price of ethylene glycol in Zhangjiagang rebounded slightly, and the basis negotiation weakened slightly. The mainstream transaction price in the Zhangjiagang market was 3,960 - 3,990 yuan/ton, down 22.5 yuan/ton from the previous trading day. The ethylene glycol futures price fluctuated at a low level, the market price in Zhangjiagang fluctuated narrowly, and the intraday negotiation and trading were relatively light [8] Group 4: Data Overview - Data Charts: Include charts such as MEG futures price, spot - futures price difference, international crude oil futures main - contract closing price, raw material price index (ethylene), PTA - MEG price difference, MEG price, MEG downstream product price, and MEG downstream product inventory. All data sources are Wind and the Research and Development Department of CCB Futures [10][15][16]