I. Key Focus Points
Core Logic: Geopolitical tensions have eased somewhat, but expectations of tight supply continue.
II. Price Table
| Category | Date/Item | Sep 20, 2026 | Sep 21, 2026 | Change | % Change | Unit |
|---|---|---|---|---|---|---|
| Crude Oil | ICE Brent | 103.87 | 100.34 | -3.53 | -3.52% | USD/barrel |
| NYMEX WTI | 100.30 | 95.78 | -4.52 | -4.72% | USD/barrel | |
| INE Shanghai | 754.40 | 730.80 | -23.60 | -3.23% | CNY/barrel | |
| Methanol (MX) | CFR China | 1158 | 1166 | 8.00 | 0.69% | USD/ton |
| Paraxylene (PX) | CFR China | 1216.00 | 1231.33 | 15.33 | 1.24% | USD/ton |
| MEG Spot | USD Basis | 805 | 790 | -15.00 | -1.90% | USD/ton |
| RMB Basis | 7325 | 7165 | -160.00 | -2.23% | CNY/ton | |
| PTA | USD Basis | 936 | 939 | 3.00 | 0.32% | USD/ton |
| Spot (RMB) | 6995 | 7015 | 20.00 | 0.29% | CNY/ton | |
| Processing Spread | 796 | 741 | -54.99 | -7.42% | CNY/ton | |
| Polyester | Semi-dull Chips | 8750 | 8635 | -115.00 | -1.33% | CNY/ton |
| Bottle-grade Chips | 8685 | 8650 | -35.00 | -0.40% | CNY/ton | |
| Filament | Semi-dull POY 150D/48F | 9700 | 9600 | -100.00 | -1.04% | CNY/ton |
| Semi-dull FDY 150D/96F | 9875 | 9825 | -50.00 | -0.51% | CNY/ton | |
| DTY 150D/48F Low Stretch | 10600 | 10600 | 0.00 | 0.00% | CNY/ton | |
| Staple Fiber | 1.4d Direct Spinning PSF | 8750 | 8720 | -30.00 | -0.34% | CNY/ton |
| Utilization Rate | PX | 80.39% | 80.39% | 0.00% | 0.00% | -- |
| PTA | 72.08% | 73.79% | 1.71% | 2.32% | -- | |
| MEG | 64.11% | 64.11% | 0.00% | 0.00% | -- | |
| Polyester | 73.23% | 72.57% | -0.66% | -0.91% | -- | |
| Weaving | 51.94% | 51.94% | 0.00% | 0.00% | -- |
Note: Weaving operating rate data is updated every Thursday.
III. Data Table (Units: Tons, 10,000 Tons)
| Data Type | Sep 21 | Sep 20 | Change Rate | Weekly Trend |
|---|---|---|---|---|
| MEG Shipments | 9,133 | 8,634 | 5.78% | ↑ |
| MEG Operating Rate | 64.11% | 64.11% | 0.00% | ↘ |
| MEG Port Inventory | 10.4 | 11.4 | -8.77% | ↓ |
| Polyester Operating Rate | 72.57% | 73.23% | -0.66% | ↘ |
| PET Filament Sales Ratio | 25.80% | 14.20% | 11.60% | ↘ |
Note: Shipment data refers to figures from the previous business day.
IV. Market Outlook
With geopolitical tensions easing, crude oil prices have fallen significantly from highs. This has lowered the cost floor for ethylene glycol. As expectations of tight supply in far-month contracts diminish, the market is likely to correct. Today's ex-warehouse spot price in East China is expected to range between 6,900 and 7,000 CNY/ton.
V. Data Calendar (Units: 10,000 Tons)
| Data Type | Release Time | Previous Value | Expected Trend |
|---|---|---|---|
| MEG Port Inventory | Mon & Thu 11:00 AM | 10.4 | ↘ |
| MEG Production | Thu 4:00 PM | 40.10 | ↗ |
| Polyester Production | Thu 4:00 PM | 136.21 | ↗ |
| Jiangsu-Zhejiang Weaving Rate | Thu 11:00 AM | 51.94% | ↘ |
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