| | | | | 聚酯数据日报 | | | --- | --- | --- | --- | --- | --- | | | | 国贸期货研究院 | | 投资咨询号:Z0017251 | 2025/10/9 | | | | 能源化工研究中心 | 陈胜 | | 从业资格号:F3066728 | | | 指标 | 2025/9/29 | 2025/9/30 | 变动值 | 行情综述 | | | INE原油(元/桶) | 492.6 | 479.7 | -12.90 | 成交情况: PTA:原油行情下跌,对PTA成本支撑减弱。节后220万 | | | | | | | 吨PTA装置计划提前检修,但对市场提振效果有限, | | SC | PTA-SC(元/陣) | 1072. 2 | 1108. 0 | 35. 75 | PTA现货充足。 | | | PTA/SC(比价) | 1. 2995 | 1. 3178 | 0. 0183 | | | PX | CFR中国PX | 817 | 804 | -13 | | | | PX-石脑油价差 | 209 | 219 | 10 | | | | PTA主力期价(元/吨) | 4 ...

| | | | 国贸期货研究院 | 投资咨询号:Z0017251 2025/10/9 | | --- | --- | --- | --- | --- | | | | | 能源化工研究中心 陈胜 | 从业资格号:F3066728 | | 指标 | 2025/9/29 | 2025/9/30 | 变动值 | | | PTA现货价格 | 4590 | 4535 | (55.00) | | | MEG内盘价格 | 4295 | 4275 | (20.00) | 现货资讯: | | PTA收盘价 | 4652 | 4594 | (58.00) | 短纤:涤纶短纤主力期货价格跌50至6276。现货 | | MEG收盘价 | 4224 | 4207 | (17.00) | 市场:涤纶短纤生产工厂价格稳定,贸易商价格 | | | | | | 偏弱下滑,下游按需采买,场内成交分化。 | | 1.4D直纺涤短 | 6480 | 6465 | (15.00) | 1.56dtex*38mm半光本白(1.4D)涤纶短纤华东市 | | 短纤基差 | 110 | 129 | 19.00 | 场价格在6250-6550现款现汇含税自提,华 ...

M E G 日期 东北亚乙烯 MEG外盘 价格 MEG内盘 价格 MEG华东 价格 MEG远月 价格 MEG煤制 利润 MEG内盘现金 流（乙烯） MEG总负 荷 煤制MEG 负荷 MEG港口 库存 非煤制负荷 2025/09/24 840 508 4301 4322 4301 196 -822 73.5 74.4 40.9 73 2025/09/25 820 507 4315 4335 4320 210 -712 73.5 74.4 40.9 73 2025/09/26 810 506 4294 4315 4302 147 -685 73.4 74.4 40.9 73 2025/09/29 810 505 4295 4315 4297 148 -681 73.5 74.4 40.9 73 2025/09/30 805 502 4275 4295 4278 128 -699 73.5 74.4 40.9 73 变化 -5 -3 -20 -20 -19.00 -20.00 -18 0 0 0 0 MEG现货成交 基差对01（+66）附近。 MEG装置变化 山西美锦30万吨检修。 周度观点 近端EG检修回归叠加新 ...

投资咨询业务资格:证监许可【2012】31号 【一国贸易报 瓶片短纤数据日报 | | | | | 技资咨询号 | | --- | --- | --- | --- | --- | | | | | 国贸期货研究院 | Z0017251 2025/9/30 | | | | | 能源化工研究中心 陈胜 | 从业资格号: | | | | | | F3066728 | | 指标 | 2025/9/26 | 2025/9/29 | 变动值 | | | PTA现货价格 | 4590 | 4590 | 0.00 | | | MEG内盘价格 | 4294 | 4295 | 1.00 | 现货资讯: 短纤:涤纶短纤主力期货价格跌8至6336。现货 | | PTA收盘价 | 4646 | 4652 | 6.00 | 市场:涤纶短纤生产工厂价格稳定,贸易商价格 | | MEG收盘价 | 4213 | 4224 | 11.00 | 横盘震荡,下游按需采买,场内成交有限。 | | 1.4D直纺涤短 | 6495 | 6480 | (15.00) | 1.56dtex*38mm半光本白(1.4D)涤纶短纤华东市 场价格在6300-6550现 ...

芳烃橡胶早报 研究中心能化团队 2025/09/30 | | P T A | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 日期 | 原油 | 石脑油 日本 | PX CFR 台湾 | PTA内盘现 货 | POY 1 50D/4 8F | 石脑油裂 解价差 | PX加工差 | PTA加 工差 | 聚酯毛利 | PTA平衡 负荷 | PTA负 荷 | 仓单+有 效预报 | TA基差 产销 | | | 2025/0 9/23 | 67.6 | 598 | 803 | 4470 | 6620 | 101.77 | 205.0 | 125 | 209 | 80.6 | 76.8 | 32714 | -80 | 0.30 | | 2025/0 9/24 | 69.3 | 606 | 812 | 4525 | 6600 | 97.96 | 206.0 | 120 | 140 | 80.6 | 76.8 | 32714 | -75 ...

2 0 2 5年四季度涤纶短纤策略报告 涤纶短纤：成本端承压，短纤基本面尚可 p 2 | 目 | 录 | | --- | --- | | 1、涤纶短纤价格：跟随原油价格震荡 | | | 2、涤纶短纤成本端：关注装置新投产落地情况 | | | 3、涤纶短纤供应端：开工持续高位 | | | 4、涤纶短纤需求端：订单恢复一般 | | | 5、涤纶短纤终端需求：终端需求预期收缩 | | | 6、涤纶短纤持仓情况 | | 2 0 2 5 年 9 月 1 光大证券 2020 年 半 年 度 业 绩 E V E R B R I G H T S E C U R I T I E S p 3 1.1 价格：涤纶短纤期货、现货、基差 资料来源：iFind，光大期货研究所 | 单位 ：元/吨 | PF主力收盘价 | 1 4D直纺涤短 . | 基 差 | | --- | --- | --- | --- | | 2025/9/24 | 6296 | 6460 | 164 | | 2025/6/30 | 6542 | 6805 | 263 | | 变化值 | -246 | -345 | -99 | | 涨跌幅 | -3 8% . | -5 ...

瓶片短纤数据日报 险,入市需谨慎。 ITG国贸期货 世界500强投资企业 国贸期货有限公司 成为一流的衍生品综合服务商 入 用 市 市 lle 41 客 官 方 网 站 服 热线 la 风 400-8888-598 www.itf.com.cn | | | | | 投资咨询号: | | --- | --- | --- | --- | --- | | | | | 国贸期货研究院 | Z0017251 2025/9/29 | | | | | 能源化工研究中心 陈胜 | 从业资格号: | | | | | | F3066728 | | 指标 | 2025/9/25 | 2025/9/26 | 变动值 | | | PTA现货价格 | 4585 | 4590 | 5.00 | | | MEG内盘价格 | 4315 | 4294 | (21.00) | 现货资讯: | | PTA收盘价 | 4678 | 4646 | (32.00) | 短纤:现货市场:涤纶短纤生产工厂价格稳定, | | MEG收盘价 | 4246 | 4213 | (33.00) | 贸易商价格区间整理,下游按需采买,场内成交 不振。1.56dtex*3 ...

Group 1: Report Industry Investment Rating - Not provided in the given content Group 2: Core Viewpoints of the Report - PTA: As domestic PTA plants gradually resume operation, PTA production is on the rise. However, PTA profits are still constrained by over - capacity and new plant commissions. Recently, with improved demand, delayed new plant commissions, and some enterprises reducing production to maintain prices, PTA processing fees show signs of recovery. High polyester loads without significant inventory accumulation indicate optimistic market demand, especially in exports. PTA's operating rate may further improve [2]. - Ethylene Glycol: The inventory of ethylene glycol at East China ports is 46.5 tons. The overall inventory continues to decline, and it is expected to further deplete. Although overseas imports are expected to decline, domestic plant commissions keep the ethylene glycol price under pressure. Polyester inventory is in good condition, and the downstream weaving load is rising [2]. Group 3: Summary by Relevant Catalogs 1. Market Data Comparison - INE crude oil price increased from 490.6 yuan/barrel on September 25, 2025, to 491.3 yuan/barrel on September 26, 2025, with a change of 0.70 yuan/barrel [2]. - PTA - SC decreased from 1112.8 yuan/ton to 1075.7 yuan/ton, a decrease of 37.09 yuan/ton; PTA/SC ratio decreased from 1.3121 to 1.3013, a decrease of 0.0108 [2]. - CFR China PX decreased from 817 to 814, a decrease of 3; PX - naphtha spread decreased from 211 to 206, a decrease of 5 [2]. - PTA main futures price decreased from 4678 yuan/ton to 4646 yuan/ton, a decrease of 32.0 yuan/ton; PTA spot price increased from 4585 to 4590, an increase of 5.0 [2]. - PTA spot processing fee increased from 213.5 yuan/ton to 222.5 yuan/ton, an increase of 9.0 yuan/ton; PTA futures processing fee decreased from 291.5 yuan/ton to 273.5 yuan/ton, a decrease of 18.0 yuan/ton [2]. - MEG main futures price decreased from 4246 yuan/ton to 4213 yuan/ton, a decrease of 33.0 yuan/ton; MEG - naphtha decreased from (133.89) yuan/ton to (135.48) yuan/ton, a decrease of 1.6 yuan/ton [2]. - MEG domestic price decreased from 4315 to 4294, a decrease of 21.0 [2]. 2. Industry Chain Operating Conditions - PX operating rate remained at 85.57%; PTA operating rate decreased from 78.12% to 77.23%, a decrease of 0.89%; MEG operating rate remained at 62.62%; polyester load decreased from 88.74% to 87.81%, a decrease of 0.93% [2]. 3. Product Data Polyester Filament - POY150D/48F increased from 6530 to 6605, an increase of 75.0; POY cash flow increased from (86) to (8), an increase of 78.0 [2]. - FDY150D/96F increased from 6720 to 6790, an increase of 70.0; FDY cash flow increased from (396) to (323), an increase of 73.0 [2]. - DTY150D/48F increased from 7840 to 7870, an increase of 30.0; DTY cash flow increased from 24 to 57, an increase of 33.0 [2]. - Filament sales decreased from 175% to 40%, a decrease of 135% [2]. Polyester Staple Fiber - 1.4D direct - spun polyester staple fiber decreased from 6500 to 6495, a decrease of 5; polyester staple fiber cash flow decreased from 234 to 232, a decrease of 2.0 [2]. - Polyester staple fiber sales decreased from 88% to 60%, a decrease of 28% [2]. Polyester Chips - Semi - bright chips increased from 5725 to 5745, an increase of 20.0; chip cash flow increased from 9 to 32, an increase of 23.0 [2]. - Chip sales decreased from 152% to 38%, a decrease of 114% [2]. 4. Device Maintenance - Two PTA plants in South China with a total capacity of 5 million tons have reduced their loads recently due to weather conditions, and the recovery time is to be tracked [2].

交易咨询业务资格：证监许可【2012】1091号 棉花周报（9.22-9.26） 大越期货投资咨询部 王明伟 从业资格证号：F0283029 投资咨询证号： Z0010442 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 前日回顾 2 每日提示 3 4 5 今日关注 基本面数据 持仓数据 本周回顾： 金九预期落空，新疆棉花丰收在望，本周棉花延续下跌走势，郑棉大幅回落。 全国棉花产量预计722万吨，新疆再创新高。ICAC9月报：25/26年度产量2550万吨，消费2550 万吨。USDA9月报：25/26年度产量2562.2万吨，消费2587.2万吨，期末库存1592.5万吨。海 关：8月纺织品服装出口265.4亿美元，同比下降5%。8月份我国棉花进口7万吨，同比减少 51.6%；棉纱进口13万吨，同比增加18.18%。农村部9月25/26年度：产量636万吨，进口140万 吨，消费740万吨，期末库存82 ...

芳烃橡胶早报 研究中心能化团队 2025/09/29 POY 1 50D/4 8F 石脑油裂 解价差 PX加工差 PTA加 工差 聚酯毛利 PTA平衡 负荷 PTA负 荷 仓单+有 效预报 TA基差 产销 66.6 596 808 4510 6600 107.67 212.0 137 139 80.6 76.8 31310 -80 0.50 67.6 598 803 4470 6620 101.77 205.0 125 209 80.6 76.8 32714 -80 0.30 69.3 606 812 4525 6600 97.96 206.0 120 140 80.6 76.8 32714 -75 0.75 69.4 609 817 4585 6530 99.65 208.0 151 14 80.6 76.8 32714 -73 1.85 70.1 608 814 4590 6630 93.95 206.0 172 117 80.1 76.8 32714 -70 0.65 变化 0.7 -1 -3 5 100.00 -5.70 -2.0 21 103 -0.5 0.0 0 3 -1.20 PTA装置变化 福 ...