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芳烃橡胶早报-20250819
Yong An Qi Huo· 2025-08-19 01:14
芳烃橡胶早报 研究中心能化团队 2025/08/19 日本 台湾 货 8F 解价差 工差 负荷 荷 效预报 2025/0 8/12 66.1 570 834 4705 6730 85.34 264.0 149 49 78.3 76.0 51531 -12 0.35 2025/0 8/13 65.6 564 831 4695 6745 82.43 267.0 158 75 78.3 76.0 47757 -11 0.40 2025/0 8/14 66.8 571 824 4650 6770 81.06 253.0 148 147 78.3 76.0 46107 -15 0.35 2025/0 8/15 65.9 573 828 4660 6770 89.82 255.0 135 141 79.0 76.0 44907 -15 0.40 2025/0 8/18 66.6 571 833 4670 6770 82.57 262.0 117 139 79.0 76.0 44907 -15 0.45 变化 0.7 -2 5 10 0.00 -7.25 7.0 -18 -2 0.0 0.0 0 0 0.05 PTA现货成 ...
芳烃橡胶早报-20250812
Yong An Qi Huo· 2025-08-12 02:04
芳烃橡胶早报 研究中心能化团队 2025/08/12 P T A 石脑油 PX CFR PTA内盘现 POY 1 免责声明: 以上内容所依据的信息均来源于交易所、媒体及资讯公司等发布的公开资料或通过合法授权渠道向发布人取得的资讯,我们力求分析及建议内 容的客观、公正,研究方法专业审慎,分析结论合理,但我司对信息来源的准确性和完整性不作任何保证,也不保证所依据的信息和建议不会 发生任何变化。我们提供的全部分析及建议内容仅供参考,不构成对您的任何投资建议及入市依据,您应当自主做出期货交易决策,独立承担 期货交易后果,凡据此入市者,我司不承担任何责任。我司在为您提供服务时已最大程度避免与您产生利益冲突。未经我司授权,不得随意转 载、复制、传播本网站中所有研究分析报告、行情分析视频等全部或部分材料、内容。对可能因互联网软硬件设备故障或失灵、或因不可抗力 造成的全部或部分信息中断、延迟、遗漏、误导或造成资料传输或储存上的错误、或遭第三人侵入系统篡改或伪造变造资料等,我司均不承担 任何责任。 日期 原油 日本 台湾 货 50D/4 8F 解价差 PX加工差 工差 聚酯毛利 负荷 荷 效预报 TA基差 产销 2025/0 ...
芳烃橡胶早报-20250806
Yong An Qi Huo· 2025-08-06 03:25
Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - For PTA, the start - up is expected to gradually stabilize and have upward flexibility. Investors can focus on opportunities to expand processing fees by buying at low prices [2]. - For MEG, in the short term, the inventory accumulation pressure is not large, and the port inventory is expected to remain low. The pattern is good and the profit is not low. In the long - term, there is an inventory accumulation expectation due to overseas device restart and increased coal - based load. It should be viewed with wide - range fluctuations, and attention should be paid to the restart progress of satellite devices [3]. - For polyester staple fiber, as the finished - product inventory of polyester yarn is reduced, the downstream start - up may increase. Although the supply of staple fiber itself may also increase, considering that the processing fee on the disk is still in a low range, investors can focus on opportunities to expand processing fees by buying at low prices [3]. - For natural rubber and 20 - grade rubber, the main contradictions are that the national explicit inventory remains stable with a not - high absolute level but no seasonal reduction, and the price of Thai cup rubber rebounds due to rainfall affecting tapping. The strategy is to wait and see [3]. 3. Summary by Related Catalogs PTA - **Price and Margin Changes**: From July 30 to August 5, 2025, the price of crude oil decreased from $73.2 to $67.6, the PTA internal - market spot price decreased from 4860 to 4660, and the PTA processing margin changed from 119 to 75 [2]. - **Device Changes**: Yisheng New Materials increased the load of its 7.2 - million - ton device; Taihua plans to overhaul a 1.5 - million - ton device and restart a 1.2 - million - ton device [2]. - **Market Situation**: The load of proximal TA existing devices decreased significantly while new devices started production. The polyester load declined slightly, inventory continued to accumulate, the basis was weak, and the spot processing fee decreased again. The domestic start - up of PX increased slightly, there were some overseas accidents, the PXN weakened significantly, the benefits of disproportionation and isomerization declined, and the aromatics price difference between the US and Asia continued to shrink [3]. MEG - **Price and Margin Changes**: From July 30 to August 5, 2025, the MEG external - market price decreased from 531 to 523, and the MEG coal - based profit decreased from 712 to 489 [3]. - **Device Changes**: The 300,000 - ton device in Tongliao, Inner Mongolia, restarted [3]. - **Market Situation**: The start - up of domestic coal - based MEG decreased slightly. Affected by the weather, both the port arrival and提货 decreased significantly during the week, the port inventory decreased slightly, the downstream stocking level decreased significantly, the basis strengthened slightly, and the profit declined from a high level [3]. Polyester Staple Fiber - **Price and Margin Changes**: From July 30 to August 5, 2025, the price of 1.4D cotton - type staple fiber decreased from 6665 to 6550, and the short - fiber profit increased from - 23 to 56 [3]. - **Device Changes**: The small - line of Xianglu stopped for maintenance, and the start - up decreased slightly to 90.3% [3]. - **Market Situation**: The start - up of the polyester yarn end remained stable, the raw - material stocking decreased, the finished - product inventory decreased, and the profit declined [3]. Natural Rubber and 20 - Grade Rubber - **Price Changes**: From July 30 to August 5, 2025, the price of US - dollar Thai standard rubber decreased from 1780 to 1760, and the price of Shanghai full - latex decreased from 14545 to 14145 [3]. - **Market Situation**: The national explicit inventory remained stable, the price of Thai cup rubber rebounded, and rainfall affected tapping [3]. Styrene - **Price and Margin Changes**: From July 30 to August 5, 2025, the price of pure benzene (CFR China) decreased from 767 to 750, and the styrene domestic profit changed from - 162 to - 182 [6]. - **Market Situation**: The price of related products such as styrene, PS, and ABS changed slightly, and the profit of some products also changed slightly [6].