I. Key Focus Points
Core Logic: Frequent geopolitical changes are having a diminishing impact on the market; expectations for loose supply in the long term remain.
II. Price Table
| Variety | Date | 2026/10/20 | 2026/10/21 | Change | % Change | Unit |
|---|---|---|---|---|---|---|
| Crude Oil | ICE Brent | 108.79 | 108.82 | 0.03 | 0.03% | USD/bbl |
| NYMEX WTI | 101.79 | 97.15 | -4.64 | -4.78% | USD/bbl | |
| INE Shanghai | 727.30 | 700.80 | -26.50 | -3.78% | CNY/bbl | |
| Methanol | CFR China | 1212 | 1207 | -5.00 | -0.41% | USD/ton |
| PX | CFR China | 1289.67 | 1272.67 | -17.00 | -1.34% | USD/ton |
| MEG Spot | USD Basis | 655 | 675 | 20.00 | 2.96% | USD/ton |
| RMB Basis | 5405 | 5505 | 100.00 | 1.82% | CNY/ton | |
| PTA Price | USD Basis | 936 | 934 | -2.00 | -0.21% | USD/ton |
| Spot (RMB) | 6960 | 6940 | -20.00 | -0.29% | CNY/ton | |
| Processing Spread | 417 | 484 | 67.01 | 13.84% | CNY/ton | |
| Polyester | Semi-dull Chip | 8470 | 8430 | -40.00 | -0.47% | CNY/ton |
| Bottle Grade Chip | 8700 | 8700 | 0.00 | 0.00% | CNY/ton | |
| Direct-spun Semi-dull POY 150D/48F | 9450 | 9475 | 25.00 | 0.26% | CNY/ton | |
| Direct-spun Semi-dull FDY 150D/96F | 9600 | 9600 | 0.00 | 0.00% | CNY/ton | |
| DTY 150D/48F Low Elasticity | 10450 | 10450 | 0.00 | 0.00% | CNY/ton | |
| 1.4 Denier Direct-spun Staple Fiber | 8940 | 8910 | -30.00 | -0.34% | CNY/ton | |
| Utilization Rate | PX | 83.22% | 83.22% | 0.00% | 0.00% | -- |
| PTA | 67.63% | 67.63% | 0.00% | 0.00% | -- | |
| MEG | 64.76% | 64.76% | 0.00% | 0.00% | -- | |
| Polyester | 72.49% | 72.81% | 0.32% | 0.44% | -- | |
| Weaving | 51.67% | 51.67% | 0.00% | 0.00% | -- |
Note: Weaving operating rate data is updated every Thursday.
III. Data Table (Units: tons, 10,000 tons)
| Data Type | Oct 21 | Oct 20 | Change Rate | Weekly Trend |
|---|---|---|---|---|
| MEG Shipments | 6,500 | 9,800 | -33.67% | ↘ |
| MEG Operating Rate | 64.76% | 64.76% | 0.00% | → |
| MEG Port Inventory | 16.3 | 11.5 | 41.74% | ↗ |
| Polyester Operating Rate | 72.81% | 72.49% | 0.32% | → |
| Filament Sales Ratio | 29.70% | 31.60% | -1.90% | ↘ |
Note: Shipment data reflects figures from the previous working day.
IV. Market Outlook
Geopolitical developments remain limited, weakening their impact on the ethylene glycol market. Although supply-demand structures continue to face downward pressure, the market has experienced a rapid decline previously and now shows signs of stabilization and rebound. Today’s trading range is expected to be between 5,450 and 5,550 CNY/ton.
V. Data Calendar (Units: 10,000 tons)
| Data Type | Release Time | Previous Period Data | Current Period Forecast |
|---|---|---|---|
| MEG Port Inventory | Mon & Thu 11:00 AM | 16.3 | ↗ |
| MEG Production | Thu 16:00 PM | 41.55 | ↗ |
| Polyester Production | Thu 16:00 PM | 134.08 | ↗ |
| Jiangsu/Zhejiang Weaving Operating Rate | Thu 16:00 AM | 51.67% | ↗ |
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