I. Focus Points

1, 3/26: United StatesCrude oilDue to the decrease in refined oil inventory and the unstable geopolitical situation, international oil prices have risen. NYMEXCrude oil futuresThe May contract for WTI crude oil is at $69.65, up $0.65 per barrel, a month-on-month increase of +0.94%; the May contract for ICE Brent crude oil is at $73.79, up $0.77 per barrel, a month-on-month increase of +1.05%. The main contract for China’s INE crude oil futures 2505 is up 2.1 to 539.4 yuan per barrel, with a night session increase of 3.5 to 542.9 yuan per barrel.

2、PTA marketThe upward momentum is weak, and the BDO market is operating steadily but weakly.

3. The equipment is stable in production.

Core logicThe cost support is generally weak, the PBT market is fluctuating weakly, and downstream and end users continue to adopt a wait-and-see attitude.

Price List

3. Market Outlook

It is expected that the PBT market will operate cautiously today. The PTA balance sheet maintains a de-stocking expectation, and under low valuations, cost support remains stable. However, the tight balance between supply and demand has eased, and the performance of the industrial chain is lukewarm, with low downstream purchasing enthusiasm. In the short term, there is insufficient upward momentum in the domestic PTA spot market. The supply side of BDO continues to maintain a price defense stance, while downstream industries continue to follow up on contract orders. Holders are cautious in their operations, and the market is weakly stable. As the weekend approaches, market fluctuations may be limited. Cost changes are expected to be minimal, and the PBT market may continue to fluctuate within a range, with market sentiment remaining cautiously observant. Therefore, Longzhong estimates that today the market for medium and low viscosity PBT resin in East China will be around 7900-8200 yuan/ton.

Four, Data Calendar