瓶片短纤数据日报-20250430

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core Viewpoints - Due to the concentrated maintenance of PTA devices and the intensive maintenance of upstream PX devices, the internal - external price difference of PX has been significantly repaired. The load of PX devices has changed with the large - scale maintenance of reforming devices. More domestic PTA and reforming devices are planned to be maintained in May. PTA has weakened significantly, and market sentiment has begun to calm down [2]. - The profits of polyester downstream products are compressed, and the polyester load remains at a high level. Recently, polyester sales have continued to improve, and polyester inventory has been significantly reduced. However, the downstream load is decreasing, and the terminal export demand has significantly weakened. PTA has entered the de - stocking cycle, with an expected de - stocking amplitude of more than 400,000 tons in the next period, and the de - stocking will stop in June [2]. - PXN has shrunk to 160, and the price difference between PX - MX has shrunk to 65. The load of domestic PX devices has declined. The processing fee of PTA still remains at around 350 yuan and has expanded [2]. - The downstream of polyester may cut production, including FDY, short - fiber, and bottle, all showing production cuts. The downstream load has decreased, and orders have significantly decreased [3]. 3) Summary by Indicators Price and Price Difference Indicators - PTA spot price decreased from 4585 to 4540, a decrease of 45; PTA closing price decreased from 4480 to 4440, a decrease of 40 [2]. - MEG internal - market price increased from 4210 to 4216, an increase of 6; MEG closing price decreased from 4190 to 4187, a decrease of 3 [2]. - 1.4D direct - spinning polyester staple fiber price decreased from 6460 to 6430, a decrease of 30; the price difference between 1.4D direct - spinning and imitation large - chemical fiber decreased from 610 to 555, a decrease of 55 [2]. - Polyester bottle - chip prices in the Jiangsu - Zhejiang market decreased, with the average price down 35 yuan/ton compared to the previous working day. Various types of bottle - chip prices, such as East China water - bottle chips, hot - filling polyester bottle chips, and carbonated - grade polyester bottle chips, all decreased by 48 [2]. - T32S pure polyester yarn price decreased from 10600 to 10570, a decrease of 30; the processing fee remained unchanged at 4140 [2]. - Cotton 328 price decreased from 13875 to 13790, a decrease of 85 [2]. Load and Production and Sales Indicators - Direct - spinning short - fiber load (weekly) increased from 88.90% to 91.30%, an increase of 0.02 [3]. - Polyester staple fiber production and sales decreased from 89.00% to 74.00%, a decrease of 15.00% [3]. - Polyester yarn startup rate (weekly) remained unchanged at 67.00% [3]. - Regenerated cotton - type load index (weekly) remained unchanged at 50.40% [3].