投资咨询业务资格:证监许可【2012】31号 ITG国贸期货 | | | | | 聚酯数据日报 | | | --- | --- | --- | --- | --- | --- | | | | 国贸期货研究院 | | 投资咨询号:Z0017251 | 2025/7/9 | | | | 能源化工研究中心 | 陈胜 | 从业资格号:F3066728 | | | | 指标 | 2025/7/7 | 2025/7/8 | 变动值 | 行情综述 | | SC | INE原油(元/桶) | 502. 3 | 510. 7 | 8. 40 | 成交情况: PTA:PTA行情微幅下跌,盘中原油偏弱震荡,下游聚 | | | PTA-SC(元/吨) | 1059. 7 | 998. 7 | -61.04 | 酯工厂进一步减产,PTA需求走弱,且供应恢复下市场 心态谨慎,现货价格及基差有所走弱。 | | | PTA/SC(比价) | 1. 2903 | 1. 2691 | -0. 0212 | | | PX | CFR中国PX | 842 | 847 | 5 | | | | PX-石脑油价差 | 263 | 270 | 7 | | ...

投资咨询业务资格:证监许可【2012】31号 | 一国贸易货 瓶片短纤数据日报 | | | | 国贸期货研究院 | 投资咨询号: | | --- | --- | --- | --- | --- | | | | | | Z0017251 2025/7/9 | | | | | 能源化工研究中心 陈胜 | 从业资格号: | | | | | | F3066728 | | 指标 | 2025/7/7 | 2025/7/8 | 变动值 | | | PTA现货价格 | 4810 | 4800 | (10.00) | | | MEG内盘价格 | 4345 | 4360 | 15.00 | 现货资讯: | | PTA收盘价 | 4710 | 4710 | 0.00 | 短纤:聚酯瓶片江浙市场主流商谈在5900-6010 | | MEG收盘价 | 4279 | 4267 | (12.00) | 吨,均价较上一工作日跌5元/吨。日内聚酯原料 | | | | | | 及瓶片期货窄幅震荡,供应端报盘多数维持,下 | | 1.4D直纺涤短 | 6760 | 6735 | (25.00) | 游采购维持刚需补库,市场交投气氛谨慎,今日 | ...

Report Industry Investment Rating - The investment view is "oscillating", with no obvious driving force and expected to be mainly bearish [3] Core View of the Report - The supply of PTA is bearish as domestic production is at a historical high, and factors like benzene price weakness and profit margins limit PX production increase. The demand is also bearish as polyester downstream load is expected to decrease, and major polyester factories in short - fiber and bottle - chip segments plan to cut production in July. The PTA is in a stockpiling cycle, with port inventory increasing by 30,000 tons this week. The PTA basis has weakened rapidly, and its processing fee has shrunk. PTA price is at a neutral - low level, and the macro - policy has a neutral impact [3] Summary by Relevant Catalogs 1. Main Views and Strategy Overview - Supply: Domestic PTA production is at a historical high, port inventory is decreasing, and a large number of warehouse receipts are being cancelled. The spread between PX and naphtha has expanded to about $230 - 240, but benzene price weakness restricts PX production increase. The spread between PX and MX is about $90, which drives the recovery of PX load [3] - Demand: Polyester downstream load remains above 91% despite the expected reduction. Polyester factories' inventory is optimistic. Major production cuts are expected in short - fiber and bottle - chip segments in July, which will affect polyester load. As PTA price recovers, polyester's ability to absorb PTA price weakens, and weaving profit is compressed [3] - Inventory: PTA port inventory has accumulated, and it has entered a stockpiling cycle, with a 30,000 - ton increase in port inventory this week [3] - Basis: PTA basis has weakened rapidly. As PTA device increases with profit recovery and demand weakens, the market liquidity becomes looser [3] - Profit: The spread between PX and naphtha is $230, and the spread between PX and MX has shrunk. PTA processing fee remains at about 300 yuan and has contracted [3] - Valuation: PTA price is at a neutral - low level. As reforming devices gradually recover, aromatic supply increases, but gasoline profit is poor, and blending demand recovers [3] - Macro - policy: Trump plans to impose tariffs ranging from 60% - 70% and 10% - 20% on different countries starting August 1st [3][8] - Investment view: Oscillating, with no obvious driving force and expected to be mainly bearish [3] - Trading strategy: Unilateral: Wait and see [3] 2. Oil Product Fundamentals Overview - Policy: Trump plans to impose tariffs; the "Big and Beautiful Act" supports oil, gas, and coal production and restricts wind and solar energy; OPEC + is discussing an 81,100 - barrel - per - day production increase in August [8] - Gasoline: There are still concerns about the gasoline peak season. EIA data shows that the total inventory is 150,000 barrels, approaching 230 million barrels. Refinery operating rate has exceeded 94%, increasing gasoline production from 9 million barrels to 9.7 million barrels. North American refinery load is rising, and gasoline cracking profit shows a seasonal upward trend [23] 3. Aromatic Fundamentals Overview - MX: North American reforming device profit margin remains unchanged. The demand for MX in Asia is strong due to PX demand. Currently, tariffs hinder MX cross - regional arbitrage, but it is still marginally feasible. Asian spot MX supply is sufficient, and domestic mainstream reforming and aromatic extraction device productivity is decreasing [37][50][57] - PX: It is the core of polyester industry price fluctuations. After the listing of PX futures, its pricing is closely linked to futures [49][56] - PTA: Due to large domestic production capacity, the PTA processing interval has long been maintained below 500 yuan. With the launch of new devices and capacity, the option - based income - enhancement plan is more widely used [49][56] - Short - fiber and bottle - chip: They are in the capacity launch cycle. Overseas demand is an important variable, and the "Belt and Road" initiative provides new export opportunities [49][56] 4. Polyester Fundamentals Overview - Ethylene glycol: Coal - price decline expands coal - based ethylene glycol profit. There will be a large amount of ethylene glycol arriving at ports later. Polyester production and sales are weakening, and it is entering the maintenance cycle [81] - Gasoline: Gasoline profit is recovering, and the load of major refineries is increasing [82] - Polyester: Downstream demand is weakening, and bottle - chip and short - fiber are in the maintenance period. Raw material prices are rising, and terminal demand is weakening [90][97]

光大期货能化商品日报 光大期货能化商品日报（2025 年 7 月 8 日） 一、研究观点 | 品种 | 点评 | 观点 | | --- | --- | --- | | | 周一油价低开高走，其中 WTI 8月合约收盘上涨 0.93 美元至 67.93 | | | | 美元/桶，涨幅 1.39%。布伦特 9 月合约收盘上涨 1.28 美元至 69.58 | | | | 美元/桶，涨幅 1.87%。SC2508 以 512.0 元/桶收盘，上涨 10.7 元/ | | | | 桶，涨幅为 2.13%。油价无视欧佩克+超预期增产利空，价格偏强 | | | | 运行。宏观方面，美国总统特朗普签署行政令，将对等关税生效 | | | | 日和谈判截止日期从 7 月 9 日延后至 8 月 1 日。此外，他还向 14 | | | | 个国家发出首批关税信函，8 月 1 日起将对日本和韩国加征 25% | | | | 关税，对马来西亚、哈萨克斯坦和突尼斯征收 25%的关税，南非 | | | 原油 | 则将面临 30%的税率，老挝和缅甸将被征收 40%的关税。 | 震荡 | | | 其他受影响国家还包括印尼 32%、孟加拉国 3 ...

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - PX prices may continue to face pressure in the short term due to weak international oil prices leading to insufficient cost support, and the futures price is expected to maintain a weak and volatile pattern [2] - The downside space of PTA is limited. It may show a narrow - range fluctuation pattern under the game between cost and demand, with upstream PX weakening suppressing costs and downstream demand showing marginal improvement [2] - The polyester industry chain may present a weak reality pattern in the next two weeks. Cost - side downward pressure may be transmitted to the PTA link, but attention should be paid to the demand - side improvement's impact on inventory digestion and the potential start time of restocking [3] - Overall, PX may continue to be under pressure, while PTA may have limited decline or be in a range - bound consolidation due to demand growth [36] Group 3: Summary by Related Catalogs 1. Daily Market Summary PTA & PX - On July 4, the PX main contract closed at 6,672.0 yuan/ton, down 1.01% from the previous trading day, with a basis of 170.0 yuan/ton; the PTA main contract closed at 4,710.0 yuan/ton, down 0.76% from the previous trading day, with a basis of 170.0 yuan/ton [2] - On July 4, the Brent crude oil main contract closed at 68.85 US dollars/barrel, and WTI closed at 67.18 US dollars/barrel. The total transaction volume of Light Textile City was 696.0 million meters, and the 15 - day average transaction was 645.33 million meters [2] Polyester - On July 4, the short - fiber main contract closed at 6,514.0 yuan/ton, down 0.76% from the previous trading day. The spot price in the East China market was 6,710.0 yuan/ton, down 20.0 yuan/ton from the previous trading day, with a basis of 196.0 yuan/ton [3] - The PX futures price showed a trend of rising first and then falling this week. On July 4, it decreased by 0.98% to 6,672 yuan/ton compared with the previous period, and the PTA futures decreased by 0.77% to 4,710 yuan/ton during the same period, indicating a loosening of cost support [3] - The MA15 of the Light Textile City's trading volume continued to rise, reaching 645 million meters on July 4, hitting a new high in the observation period, showing signs of recovery in terminal textile demand [3] - All types of polyester fibers showed continuous inventory accumulation. The weekly inventory increase of DTY was 13% (28.6 days), FDY increased by 18.5% (22.4 days), and POY increased by 26% (21.7 days), all significantly higher than the five - year average level [3] 2. Industrial Chain Price Monitoring - PX futures: The main contract price was 6,672 yuan/ton, down 1.01%; the trading volume was 241,111 lots, up 8.15%; the open interest was 123,806 lots, up 11.49% [4] - PTA futures: The main contract price was 4,710 yuan/ton, down 0.76%; the trading volume was 1,056,898 lots, down 0.66%; the open interest was 1,114,401 lots, down 1.38% [4] - Short - fiber futures: The main contract price was 6,514 yuan/ton, down 0.76%; the trading volume was 107,280 lots, up 8.95%; the open interest was 82,960 lots, down 5.71% [4] - Other prices: Brent crude oil main contract was 68.51 US dollars/barrel, down 0.49%; WTI was 66.5 US dollars/barrel, down 1.01%; CFR Japan naphtha was 577.38 US dollars/ton, unchanged; ethylene glycol was 4,370 yuan/ton, up 0.23%; polyester chips were 5,875 yuan/ton, down 0.51%; polyester bottle chips were 5,980 yuan/ton, down 0.33%; polyester POY was 6,920 yuan/ton, down 3.22%; polyester DTY was 8,200 yuan/ton, down 2.61%; polyester FDY was 7,180 yuan/ton, down 3.62% [4] - Processing spreads: Naphtha was 40.64 US dollars/ton, unchanged; PX was 271.29 US dollars/ton, unchanged; PTA was 261.72 yuan/ton, down 0.30%; polyester chips were - 108 yuan/ton, down 38.46%; polyester bottle chips were - 453 yuan/ton, down 4.62%; polyester short - fiber was 107 yuan/ton, down 27.21%; polyester POY was 37 yuan/ton, down 86.14%; polyester DTY was - 33 yuan/ton, down 117.65%; polyester FDY was - 203 yuan/ton, down 402.99% [5] - Light Textile City trading volume: The total volume was 696 million meters, up 30.58%; long - fiber fabric volume was 507 million meters, up 24.88%; short - fiber fabric volume was 191 million meters, up 52.80% [5] - Industrial chain load rates: PTA factories were at 75.86%, unchanged; polyester factories were at 89.42%, unchanged; Jiangsu and Zhejiang looms were at 63.43%, unchanged [5] - Inventory days: Polyester short - fiber was 7.99 days, up 2.83%; polyester POY was 21.7 days, up 26.16%; polyester FDY was 22.4 days, up 18.52%; polyester DTY was 28.6 days, up 13.04% [5] 3. Industry Dynamics and Interpretations Macro Dynamics - On July 4, Atlanta Fed President Bostic said that the US economy may experience high inflation for a longer time [6] - On July 3, Bank of England Monetary Policy Committee member Taylor thought there would be five interest rate cuts in 2025 [6] - Starting from August 1, purchases of gold in cash exceeding 100,000 yuan will need to be reported [6] Supply - Demand (Demand) - On July 4, the total trading volume of Light Textile City was 696.0 million meters, a year - on - year increase of 30.58%. The trading volume of long - fiber fabrics was 507.0 million meters, and that of short - fiber fabrics was 191.0 million meters [7] 4. Industrial Chain Data Charts - The report provides charts including PX main futures and basis, PX spot price, PTA main futures and basis, PTA spot price, short - fiber main futures and basis, PX capacity utilization, PTA futures monthly spread, short - fiber futures monthly spread, PTA processing profit, industrial chain load rate, polyester short - fiber production and sales situation, polyester filament production and sales situation, China Light Textile City trading volume moving average, and polyester product inventory days [8][10][12]

Report Industry Investment Rating - No relevant information provided Core Views Crude Oil - Oil prices are likely to loosen significantly but difficult to form a strong trend. Short - term can be treated with a bearish mindset, with WTI running in the range of [64, 67], Brent in [65, 69], and SC in [480, 520]. Pay attention to the opportunity of the monthly spread declining in the arbitrage end, and capture the opportunity of increased volatility in the options end [2]. Methanol - The inland market has limited short - term decline space supported by centralized maintenance in July. The port market faces dual pressures: the expected import in July reaches 1.2 million tons, and the planned maintenance of coastal MTO will weaken olefin demand, with the port expected to turn to slight inventory accumulation in July [5]. Urea - The short - term core driver comes from the emotional resonance of macro - policies and export expectations. The disk still has room to rise above 10,000 but is restricted by demand - side support [7][8]. Polyolefins (LLDPE and PP) - Both PP and PE show a supply contraction trend. The cost side has more valuation repair, and the July balance sheet shows a de - stocking expectation, but there is still an overall pressure. Short - term, pay attention to the support brought by de - stocking, and for PP, it is recommended to opportunistically arrange short positions when the price rebounds to the 7200 - 7300 range [12]. Styrene - The supply of styrene is expected to increase, while the demand is weakening at the margin, and the port inventory is continuously increasing. The basis has dropped significantly. The short - term supply - demand expectation of styrene is weak, and the cost - side support is limited, so it is expected to gradually face pressure [31]. Polyester Industry Chain - **PX**: The short - term is under pressure, but considering the downstream PTA device production in August, the PXN downward space is limited, and the absolute price may fluctuate with oil prices, showing a short - term shock and a medium - term weakening trend [37]. - **PTA**: The short - term absolute price is under pressure, and it is recommended to be bearish when above 4800, conduct TA9 - 1 reverse arbitrage, and short the PTA processing fee at high levels [37]. - **MEG**: The supply - demand is gradually turning to looseness, and the price is under pressure in the short - term. Pay attention to the pressure at 4400 for EG09 and conduct EG9 - 1 reverse arbitrage at high levels [37]. - **Short - fiber**: The supply - demand is weak on both sides, and the absolute price fluctuates weakly with raw materials. It is recommended to operate in the 6350 - 6650 range for PF08 and expand the processing fee at low levels [37]. - **Bottle - chip**: The supply has an improvement expectation, and the absolute price follows the cost side. It is recommended to operate similarly to PTA, conduct PR8 - 9 positive arbitrage at low levels, and expand the processing fee at the lower edge of the 350 - 600 yuan/ton range [37]. Summary by Relevant Catalogs Crude Oil - **Prices and Spreads**: On July 7, Brent was at $67.78/barrel, down $0.52 or - 0.76% from July 3; WTI was at $65.98/barrel, down $1.02 or - 1.52%. The spreads such as Brent - WTI remained unchanged at 0.00%, while many monthly spreads and other spreads showed declines [2]. - **Driving Factors**: Supply expansion suppresses market sentiment, and the weakening of macro and geopolitical risk premiums reduces the disturbance to the market. OPEC+ plans to increase production by 548,000 barrels per day in August, and the actual increase from April - July is lower than the target. Demand - side inventory has increased, and the macro - situation has relatively eased [2]. Methanol - **Prices and Spreads**: On July 7, MA2601 closed at 2437, down 0.53% from July 3; MA2509 closed at 2399, down 0.62%. The MA91 spread decreased by 2 to - 38, with a change of 5.56% [5]. - **Inventory**: Methanol enterprise inventory increased by 3.14% to 35.228%, port inventory increased by 0.47% to 67.4 million tons, and social inventory increased by 1.37% to 102.6 [5]. - **Operating Rates**: Upstream domestic enterprise operating rate decreased by 3.19% to 75.61%, and some downstream operating rates such as formaldehyde decreased, while some such as MTBE increased [5]. Urea - **Prices and Spreads**: On July 4, the 01 - contract closed at 1702, up 0.18% from July 3; the 09 - contract closed at 1735, down 0.12%. The UR - MA main - contract spread was - 664, up 13 from July 3 [7]. - **Positions**: The long positions of the top 20 increased by 66 to 125,746, with a change of 0.05%, and the short positions of the top 20 decreased by 6830 to 135,833, with a change of - 4.79% [7]. - **Supply and Demand**: Domestic urea daily production increased by 1.03% to 19.68 million tons, and the factory - inventory decreased by 7.06% to 101.85 million tons on a weekly basis [7]. Polyolefins (LLDPE and PP) - **Prices and Spreads**: On July 4, L2601 closed at 7243, down 0.26% from July 3; L2509 closed at 7282, down 0.03%. The L2509 - 2601 spread increased by 17 to 39, with a change of 77.27% [12]. - **Inventory**: PE enterprise inventory decreased by 2.19% to 43.8 million tons, and PP enterprise inventory decreased by 2.55% to 57.0 million tons [12]. - **Operating Rates**: PE device operating rate increased by 3.95% to 79.5%, and PP device operating rate decreased by 0.4% to 79.3% [12]. Styrene - **Prices and Spreads**: On July 4, styrene East - China spot price was 7650, up 1.1% from July 3; EB futures 2508 closed at 7297, up 0.5%. The EB basis (08) increased by 45 to 353, with a change of 14.6% [31]. - **Inventory**: The East - China port inventory of styrene increased by 7.6% to 9.63 million tons from June 25 to July 2 [31]. - **Operating Rates**: The styrene operating rate increased by 0.8% to 74.5% from June 27 to July 4, while some downstream operating rates such as PS + EPS decreased [31]. Polyester Industry Chain - **Prices and Spreads**: On July 4, PTA East - China spot price was 4835, down 1.1% from July 3; TA futures 2509 closed at 4710, down 0.8%. The PX - naphtha spread decreased by 11 to 261, with a change of - 4.0% [37]. - **Inventory**: MEG port inventory decreased by 12.4% to 54.5 million tons from June 23 to June 30 [37]. - **Operating Rates**: The PTA operating rate remained unchanged at 77.7% from June 27 to July 4, and the MEG comprehensive operating rate decreased by 1.1% to 66.5% [37].

| CCFEI价格指数:涤纶DTY | 2025/7/4 | 元/吨 | 8875.00 | 8875.00 | 0.00% | | --- | --- | --- | --- | --- | --- | | CCFEI价格指数:涤纶POY | 2025/7/4 | 元/吨 | 7275.00 | 7275.00 | 0.00% | | CCFEI价格指数:涤纶FDY68D | 2025/7/4 | 元/吨 | 7150.00 | 7150.00 | 0.00% | | 下 | CCFEI价格指数:涤纶FDY150D 2025/7/4 | 元/吨 | 7150.00 | 7150.00 | 0.00% | | 游 | CCFEI价格指数:涤纶短纤 2025/7/4 | 元/吨 | 6710.00 | 6760.00 | -0.74% | | CCFEI价格指数:聚酯切片 | 2025/7/4 | 元/吨 | 5885.00 | 5905.00 | -0.34% | | CCFEI价格指数:瓶级切片 | 2025/7/4 | 元/吨 | 5980.00 | 6000.00 | -0.33% | | 东营联合25 ...

PTA现货价格 - MEG内盘 基差 -- PTA现货价格 -- PTA主力期货价格 8000 - 1700 9200 1500 7000 1300 8200 1100 6000 7200 900 700 5000 6200 500 5200 4000 300 100 4200 3000 -100 -300 3200 2000 2024- 2025- 2023- 2023- 2024- 2024- 2025- 2023- 2024-11 2025-01 2025-03 2025-05 2024-07 2024-09 01 01 01 05 09 05 09 02 数据图表 800 现货加工区间 -- 盘面加工区间 POY现金流 =DTY现金流 -FDY现金流 800 切片现金流 涤短现金流 600 700 400 600 500 200 400 0 01 300 -200 200 -400 100 0 -600 2023- 2023- 2024- 2024- 2025- 2025- 2023- 2024- 02 09 01 05 09 01 02 01 -800 投资咨询业务资格:证监许可【2012】31号 ...

Report Summary 1. Investment Rating No investment rating information is provided in the report. 2. Core Views - The polyester market is in a weak and volatile state in the short - term due to the off - season of demand. Multiple plant maintenance delays have led to an expected increase in supply in July. It is recommended to short PXN on rallies. - For PTA, it is advisable to conduct basis positive spreads, reverse calendar spreads, and the unilateral trend is weakly volatile. Take profit on the long PX and short PTA strategy. - For MEG, conduct basis and calendar positive spreads, and avoid shorting based on valuation. Consider going long on dips for the unilateral position. [3][4] 3. Summary by Directory 3.1 PX - **Valuation and Profit** - The unilateral trend of PX is weak, and the calendar spreads are also weakening. The PXN has fallen from a high level, and the gasoline cracking spread has declined, leading to weaker aromatics blending demand. Aromatic prices show a differentiated trend, with toluene and pure benzene prices weak, while PX prices are strong, and disproportionation profits have recovered. [20][26][43] - **Supply and Demand, Inventory** - The operating rate of PX has slightly decreased. In June, the domestic production of PX rebounded to 319 tons, and the operating rate this week was 81% (-2.8%). The import volume in May rebounded to 77.3 tons. The monthly inventory in June decreased to 435 tons (-16). [55][64][83] 3.2 PTA - **Valuation and Profit** - The basis of PTA has dropped significantly as spot traders have exited basis trades. The 9 - 1 calendar spread continues to focus on reverse spreads, and the number of warehouse receipts has decreased to a low level. The cost has risen, the profit of PX has declined, and the profit of PTA has remained at a low level. [95][97][102] - **Supply and Demand, Inventory** - The operating rate of PTA has remained stable. In June, the production volume was 629 tons, a month - on - month increase of 6.4%. The export volume in May decreased significantly to 27 tons, and it is expected to rebound in June - July. The social inventory last week was 215 (-5) tons, and the de - stocking slope has slowed down. [107][113][129] 3.3 MEG - **Valuation and Profit** - The unilateral valuation of MEG is in a volatile state, and the calendar spreads have declined. The profits of each production link have weakened month - on - month, and the MTO and ethylene - imported ethylene glycol production are suffering severe losses. [140][148] - **Supply and Demand, Inventory** - The operating rate of MEG has decreased month - on - month. The operating rate in July is expected to remain in the 66 - 70% range. The import volume in May was 60 tons, and it is expected to rebound in June. The inventory is at a low level. [156][160][167] 3.4 Polyester - **Valuation and Profit** - No specific valuation and profit information is provided in the report. - **Supply and Demand, Inventory** - The operating rate of polyester is 90.2% (-0.6%). The production volume has increased by 8% year - on - year. The inventory pressure of polyester filament has increased significantly. [171][177][179] 3.5 Terminal: Weaving, Clothing No specific information is provided in the report.

恒力期货研究院|进出口数据点评_聚酯链 投资咨询业务资格：证监许可【2012】338 号 作者：周云 F03089066 Z0016657 联系人：杨皓宇 F03139287|发布日期：2025/06/23 5 月聚酯链进出口数据表现有所分化。进口方面，PX 进口相对稳定，5 月进口同比环比均小 幅增长，乙二醇进口环比回落，未来两月进口存减量预期。出口方面，5 月 PTA 出口大幅下降， 出口至土耳其数量单月下降 12 万吨。聚酯出口延续高景气，瓶片、短纤出口表现依旧亮眼。终 端纺织、服装单月出口表现分化，服装出口回暖，在 5 月 12 日《中美日内瓦经贸会谈联合声明》 后，目前还存在一个多月的关税豁免期，需要持续关注关税谈判动态。 5 月 PTA 出口大幅下降，出口至土耳其数量单月下降 12 万吨。5 月 PTA 出口 26.5 万吨，同 比减少 39%，环比下降 32.3%，2025 年 1-5 月累计出口 160.2 万吨，同比减少 11.5%。从出口国 别看，1-5 月排在前五的分别是越南（27.6 万吨，17.3%）、阿曼（20.4 万吨，12.7%）、土耳其 （19.6 万吨，12.2%）、埃及（ ...