瓶片短纤数据日报-20250428

Group 1: Report's Industry Investment Rating - No information provided Group 2: Report's Core View - Due to the concentrated maintenance of PTA plants and the intensive maintenance of upstream PX plants, the internal and external price difference of PX has been significantly repaired. The load of PX plants has changed with the large - scale maintenance of reforming plants. More domestic PTA and reforming plants are planned to be overhauled in May. The contraction of the domestic PTA and PX supply side has led to a gradual tightening of PTA spot, and there are market rumors that mainstream factories are considering injecting and selling warehouse receipts to complete the supply of contract goods. PTA has become significantly stronger, the monthly spread has widened, and market sentiment has continued to ferment. As the price of PTA rises, the profits of polyester downstream products are compressed, while the polyester load remains at a high level. Recently, the polyester production and sales have continued to improve, the polyester inventory has been significantly reduced, but the downstream load is decreasing, and the terminal export demand has weakened significantly. PTA has entered a de - stocking cycle, with an expected de - stocking volume of more than 400,000 tons, and the de - stocking will stop in June. The PTA basis has continued to strengthen, the maintenance of PTA plants has continued to increase, the market liquidity has slightly shrunk due to the maintenance supply, and large - scale traders have a relatively positive buying atmosphere. The downstream of polyester may cut production, including FDY and short - fiber bottle chips [2]. Group 3: Summary According to Related Data Price and Price Difference - PTA spot price increased from 4350 on April 24, 2025, to 4415 on April 25, 2025, with an increase of 65 [2]. - MEG internal - market price decreased from 4221 to 4188, a decrease of 33 [2]. - PTA closing price rose from 4370 to 4400, an increase of 30 [2]. - MEG closing price dropped from 4179 to 4160, a decrease of 19 [2]. - 1.4D direct - spinning polyester short - fiber price increased from 6360 to 6375, an increase of 15 [2]. - Short - fiber basis decreased from 354 to 310, a decrease of 44 [2]. - 5 - 6 spread decreased from 60 to 62, a decrease of 2 [2]. - The price difference between 1.4D direct - spinning and imitation large - chemical fiber increased from 510 to 525, an increase of 15 [2]. - East China water - bottle chip price increased from 5648 to 5710, an increase of 62 [2]. - Hot - filling polyester bottle chip price increased from 5648 to 5710, an increase of 62 [2]. - Carbonated - grade polyester bottle chip price increased from 5748 to 5810, an increase of 62 [2]. - Outer - market water - bottle chip price increased from 745 to 750, an increase of 5 [2]. - T32S pure - polyester yarn price remained unchanged at 10600 [2]. - T32S pure - polyester yarn processing fee decreased from 4240 to 4225, a decrease of 15 [2]. - Polyester - cotton yarn 65/35 45S price remained unchanged at 16550 [2]. - Cotton 328 price increased from 13910 to 13915, an increase of 5 [2]. - Polyester - cotton yarn profit decreased from 2075 to 2064, a decrease of 11.84 [2]. - Primary three - dimensional hollow (with silicon) price remained unchanged at 6890 [2]. - Hollow short - fiber 6 - 15D cash flow decreased from 557 to 512, a decrease of 44.52 [2]. - Primary low - melting - point short - fiber price remained unchanged at 7150 [2]. Processing Fee and Cash Flow - Bottle - chip spot processing fee increased from 515 to 532, an increase of 17.48 [2]. - Polyester short - fiber cash flow increased from 240 to 246, an increase of 6 [2]. Load and Production and Sales - Direct - spinning short - fiber load (weekly) increased from 84.80% to 88.60%, an increase of 0.04 [3]. - Polyester short - fiber production and sales increased from 8.00% to 62.00%, an increase of 70.00% [3]. - Polyester yarn startup rate (weekly) remained unchanged at 66.00% [3]. - Regenerated cotton - type load index (weekly) increased from 37.10% to 43.80%, an increase of 0.07 [3].