I. Key Focus Points
Core Logic: Crude oil prices have significantly declined, lowering costs, while expectations of loose future supply persist.
II. Price Table
| Category | Date/Item | Nov 11, 2026 | Nov 12, 2026 | Change | % Change | Unit |
|---|---|---|---|---|---|---|
| Crude Oil | ICE Brent | 92.76 | 95.82 | +3.06 | +3.19% | USD/bbl |
| NYMEX WTI | 86.53 | 88.74 | +2.21 | +2.49% | USD/bbl | |
| INE (China) | 584.10 | 595.90 | +11.80 | +1.98% | CNY/bbl | |
| Methanol | CFR China | 1096 | 1109 | +13.00 | +1.17% | USD/ton |
| PX | CFR China | 1175.00 | 1180.00 | +5.00 | +0.42% | USD/ton |
| MEG Spot | USD Basis | 690 | 740 | +50.00 | +6.76% | USD/ton |
| RMB Basis | 5660 | 5980 | +320.00 | +5.35% | CNY/ton | |
| PTA Price | USD Basis | 868 | 879 | +11.00 | +1.25% | USD/ton |
| RMB Spot | 6430 | 6515 | +85.00 | +1.30% | CNY/ton | |
| Processing Spread | 470 | 531 | +61.15 | +11.52% | CNY/ton | |
| Polyester | Semi-dull Chip | 7870 | 7845 | -25.00 | -0.32% | CNY/ton |
| Bottle Grade Chip | 8150 | 8200 | +50.00 | +0.61% | CNY/ton | |
| POY 150D/48F (Semi-dull) | 8750 | 8750 | 0.00 | 0.00% | CNY/ton | |
| FDY 150D/96F (Semi-dull) | 8900 | 8900 | 0.00 | 0.00% | CNY/ton | |
| DTY 150D/48F (Low Stretch) | 10000 | 10000 | 0.00 | 0.00% | CNY/ton | |
| Staple Fiber 1.4D (Direct Spun) | 8540 | 8550 | +10.00 | +0.12% | CNY/ton | |
| Utilization Rate | PX | 83.80% | 83.80% | 0.00% | 0.00% | -- |
| PTA | 70.20% | 68.69% | -1.51% | -2.20% | -- | |
| MEG | 60.26% | 60.80% | +0.54% | +0.89% | -- | |
| Polyester | 75.52% | 75.52% | 0.00% | 0.00% | -- | |
| Weaving | 49.06% | 48.48% | -0.58% | -1.20% | -- |
Note: Weaving operating rate data is updated every Thursday.
III. Data Table (Units: Tons, Ten Thousand Tons)
| Data Type | Nov 12 | Nov 11 | Change Rate | Trend |
|---|---|---|---|---|
| MEG Shipments | 6,700 | 6,700 | 0.00% | N/A |
| MEG Operating Rate | 60.80% | 60.26% | +0.54% | ↗ |
| MEG Port Inventory | 15.3 | 16.5 | -7.27% | ↗ |
| Polyester Operating Rate | 75.52% | 75.52% | 0.00% | → |
| PET Filament Sales Ratio | 37.30% | 37.40% | -0.10% | ↘ |
Note: Shipment data refers to figures from the previous working day.
IV. Market Outlook
Driven by geopolitical impacts, international crude oil prices surged significantly, raising MEG production costs. Favorable supply conditions combined with cost support are expected to sustain market strength today. The estimated spot price for self-pickup in East China ranges between 6,200 and 6,300 CNY/ton.
V. Data Calendar (Units: Ten Thousand Tons)
| Data Type | Release Time | Previous Period Data | Current Period Forecast |
|---|---|---|---|
| MEG Port Inventory | Mon & Thu, 11:00 AM | 15.3 | ↗ |
| MEG Production | Thu, 4:00 PM | 39.54 | ↗ |
| Polyester Production | Thu, 4:00 PM | 139.21 | ↗ |
| Jiangsu/Zhejiang Weaving Operating Rate | Thu, 4:00 PM | 48.48% | ↘ |
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