I. Key Focus
There are still no signs of de-escalation in the US–Iran conflict, and Houthi attacks on Saudi oil facilities have intensified, heightening supply risks and driving international crude oil prices further up.
MEG inventory at major East China ports stood at 120,000 tonnes, down 19,000 tonnes from the previous statistical period.
The MEG capacity base is 30.819 million t/y, with capacity utilization at 61.48%.
The polyester capacity base is 90.415 million t/y, with capacity utilization at 73.63%.
Core logic: Geopolitical tensions have re-intensified, and the supply–demand picture is optimistic in the short term.
II. Price Table
| Item | Sub-item | 2026/9/8 | 2026/9/9 | Change | Change % | Unit |
|---|---|---|---|---|---|---|
| Crude Oil | ICE Brent | 97.92 | 101.00 | 3.08 | 3.05% | USD/bbl |
| NYMEX Crude | 93.03 | 96.05 | 3.02 | 3.14% | USD/bbl | |
| China INE | 703.30 | 722.50 | 19.20 | 2.66% | CNY/bbl | |
| MX | CFR China | 1124 | 1130 | 6.00 | 0.53% | USD/mt |
| PX | CFR China | 1235.67 | 1240.00 | 4.33 | 0.35% | USD/mt |
| MEG Spot | MEG (USD) | 750 | 760 | 10.00 | 1.32% | USD/mt |
| MEG (CNY) | 6740 | 6761 | 21.00 | 0.31% | CNY/mt | |
| PTA Price | PTA (USD) | 864 | 878 | 14.00 | 1.59% | USD/mt |
| PTA Spot | 6480 | 6570 | 90.00 | 1.37% | CNY/mt | |
| PTA Processing Spread | 155 | 226 | 71.11 | 31.48% | CNY/mt | |
| Polyester | Semi-dull chip | 8110 | 8185 | 75.00 | 0.92% | CNY/mt |
| Polyester bottle chip | 8315 | 8375 | 60.00 | 0.72% | CNY/mt | |
| Direct-spun semi-dull POY 150D/48F | 9150 | 9250 | 100.00 | 1.08% | CNY/mt | |
| Direct-spun semi-dull FDY 150D/96F | 9375 | 9475 | 100.00 | 1.06% | CNY/mt | |
| Polyester DTY 150D/48F low-elasticity | 10150 | 10250 | 100.00 | 0.98% | CNY/mt | |
| 1.4D direct-spun polyester staple fiber | 8315 | 8390 | 75.00 | 0.89% | CNY/mt | |
| Capacity Utilization | PX | 80.62% | 80.62% | 0.00% | 0.00% | -- |
| PTA | 65.39% | 69.25% | 3.86% | 5.57% | -- | |
| MEG | 61.48% | 61.48% | 0.00% | 0.00% | -- | |
| Polyester | 73.63% | 73.63% | 0.00% | 0.00% | -- | |
| Weaving | 52.11% | 52.11% | 0.00% | 0.00% | -- |
Note: Weaving operating rate data is updated every Thursday.
III. Data Table (Unit: tonnes, 10,000 tonnes)
| Data Type | Sep 9 | Sep 8 | Change Rate | Trend This Week |
|---|---|---|---|---|
| MEG Shipments | 9500 | 4900 | 93.88% | ↑ |
| MEG Operating Rate | 61.48% | 61.48% | 0.00% | ↘ |
| MEG Port Inventory | 12 | 13.9 | -13.67% | ↓ |
| Polyester Operating Rate | 73.63% | 73.63% | 0.00% | ↘ |
| Polyester Filament Production and Sales Ratio | 29.80% | 48.20% | -18.40% | ↘ |
Note: Shipment data refer to the previous working day.
IV. Market Outlook
With geopolitical tensions running high and crude oil rising sharply, the MEG market is expected to move higher again today after consolidating and building momentum. The spot reference range for the East China market today is 7,000–7,200.
V. Data Calendar (Unit: 10,000 tonnes)
| Data Type | Release Date | Previous Data | Expected Trend This Period |
|---|---|---|---|
| MEG Port Inventory | Monday & Thursday, 11:00 AM | 12 | ↘ |
| MEG Production | Thursday, 16:00 | 38.82 | ↗ |
| Polyester Production | Thursday, 16:00 | 137.87 | ↘ |
| Jiangsu-Zhejiang Weaving Operating Rate | Thursday, 16:00 | 52.11% | ↗ |
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