需求：截至8月21日，局部装置负荷有所提升，聚酯负荷继续适当抬升至90%附近（+0.6%）。江浙终端 开工率整体继续提升，订单分化。加弹、织造、印染负荷分别为79%（+7%）、68%（+5%）、72% （+5%）。目前终端订单和开机水平整体环比改善中，对9月需求也有期待，涤丝上涨氛围下原料备货 有跟进。下游原料备货10-20天相对集中；偏高在1个月以上（9月下）；个别2个月以上（10月底）。 【行情展望】 8月21日，PTA现货加工费至214元/吨附近，TA2509盘面加工费227元/吨，TA2601盘面加工费347元/ 吨。 【供需方面】 供应：截至8月21日，嘉通300万吨降负后恢复，嘉兴石化220万吨停车后再次重启中，逸盛海南200万吨 停车检修，恒力惠州250万吨计划外停车，PTA负荷降至71.6%（-4.4%）。 【现货方面】 8月21日，PTA期货盘面受华南500万吨PTA装置计划外先后停产消息影响，PTA价格大幅上行，带动聚 酯链期货盘面全线大涨，下游聚酯产销也略有提振，上午现货基差快速上行，不过下午市场情绪溢价回 吐，基差有所松动。日内8月货源报盘减少，部分封盘不报，贸易商商谈为主。8月日盘在 ...

Report Information - Report Name: PTA Daily Report [1] - Date: August 12, 2025 [2] Market Review and Operation Suggestions - **Futures Market**: On the 11th, the closing price of the PTA main futures contract TA2509 was 4,706 yuan/ton, up 18 yuan/ton or 0.38%, with a settlement price of 4,708 yuan/ton and a daily reduction of 19,038 lots. The TA2601 contract closed at 4,732 yuan/ton, up 16 yuan/ton, with a trading volume of 253,884 lots, an increase of 21,317 lots [6]. - **Analysis**: Despite a slight decline in crude oil prices, the PTA market has maintenance expectations, and low processing fees support the spot market. Mixed long - and short - term news has led to a consolidating market [6]. Industry News - **Crude Oil**: European and American crude oil futures ended a six - day decline. Brent crude futures closed slightly higher, while WTI crude futures closed flat but had a significant weekly net decline. The September 2025 WTI crude futures settled at $63.88 per barrel, and the October 2025 Brent crude futures settled at $66.59 per barrel, up $0.16 or 0.24% [7]. - **PX Market**: The assessed price of the PX market in China was $833 - 835/ton, up $2/ton from the previous day; in South Korea, it was $813 - 815/ton, also up $2/ton [7]. - **PTA Market**: A PX and PTA plant in Shandong is restarting. The PTA price in the East China market was 4,698 yuan/ton, up 27 yuan/ton. The average daily negotiation basis was at a discount of 11 yuan/ton to the 2509 futures contract, up 6 yuan/ton [7]. Data Overview - The report includes data on international crude oil futures closing prices, upstream raw material spot prices, PX prices, MEG prices, PTA futures prices, basis, PTA processing margins, TA5 - 9 spreads, PTA warehouse receipts, polyester factory load rates, PTA downstream product prices, and PTA downstream product inventories [11][13][17]