Petroleum processing industry weekly refining: Jiangsu and Zhejiang short-term power cuts at the end of the year

[Summary of the research report]

PX: The focus of the market rose first and then fell.

PTA: The market is mainly adjusted within a narrow range.

MEG: Prices continue to rise.

Polyester filament: The production and sales of polyester filament are in large quantities.

Weaving: Some factories shut down due to power cuts.

Polyester bottle flakes: the market fluctuates within a narrow range.

Cinda Refining and Chemical Index: From September 4, 2017 to December 25, 2020, the Cinda Refining and Chemical Index rose by 180.

Related listed companies: Tongkun Stock (601233) (601233.

Risk factors: (1) The large refining and chemical plant was put into production, and the progress of reaching production was not as expected.
(2) The macroeconomic growth rate has severely declined, resulting in a serious slack in the polyester demand side.
(3) Geopolitics and El Niño have greatly interfered with oil prices.
(4) Unpredictable major changes in the production capacity of the PX-PTA-PET industry chain.

Transfer from: Cinda Securities

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