国金证券：2025年—2026年国内涤纶长丝供需或将持续偏紧

Group 1 - The polyester filament industry is nearing the end of its expansion cycle, with an ongoing trend of increasing industry concentration, strengthening the bargaining power of leading companies [1] - Current industry inventory levels are at historical lows, and with stable growth in domestic and international demand for textiles and apparel, the supply-demand situation for polyester filament in China is expected to remain tight from 2025 to 2026 [1] - This tight supply-demand balance is likely to drive polyester filament prices into an upward cycle [1]