瓶片短纤数据日报-20250519

Group 1: Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints - The Sino-US economic and trade high-level talks held in Geneva from May 10th to 11th were candid, in-depth, and constructive, reaching important consensus and achieving substantial progress. The two sides agreed to establish a Sino-US economic and trade consultation mechanism, significantly reducing reciprocal tariffs. The 24% tariff will be suspended for the initial 90 days, while the right to impose the remaining 10% tariff on these goods as stipulated in the executive order is retained. The additional tariffs on these goods imposed under Executive Order No. 14259 on April 8, 2025, and Executive Order No. 14266 on April 9, 2025, are cancelled. The intensive maintenance of PX has led to an obvious repair of the internal and external price difference of PX. Coupled with the maintenance of domestic PTA plants, the basis of PTA has strengthened significantly. Some traders' concentrated restocking has caused a certain tension in the market. Due to the contraction of the supply side of PTA and PX, the positive spread in the market has emerged, and the PTA monthly spread has been significantly pulled up. The destocking of polyester factories is approaching two weeks, with downstream concentrated destocking, and the inventory of polyester has improved [2] Group 3: Data Summary Price Changes - PTA spot price decreased from 5030 to 4990, a change of -40 [2] - MEG internal market price decreased from 4581 to 4570, a change of -11 [2] - PTA closing price decreased from 4798 to 4774, a change of -24 [2] - MEG closing price decreased from 4461 to 4460, a change of -1 [2] - 1.4D direct-spun polyester staple fiber decreased from 6805 to 6750, a change of -55 [2] - Short fiber basis increased from 57 to 92, a change of 35 [2] - 6 - 7 spread decreased from 38 to 28, a change of -10 [2] - Polyester staple fiber cash flow increased from 240 to 246, a change of 6 [2] - 1.4D imitation large chemical fiber price remained unchanged at 6000 [2] - The price difference between 1.4D direct-spun and imitation large chemical fiber decreased from 805 to 750, a change of -55 [2] - East China water bottle chip increased from 6188 to 6193, a change of 5 [2] - Hot-filled polyester bottle chip increased from 6188 to 6193, a change of 5 [2] - Carbonated-grade polyester bottle chip increased from 6288 to 6293, a change of 5 [2] - Outer market water bottle chip decreased from 805 to 800, a change of -5 [2] - Bottle chip spot processing fee increased from 353 to 396, a change of 42.89 [2] - T32S pure polyester yarn price remained unchanged at 10780 [2] - T32S pure polyester yarn processing fee increased from 3975 to 4030, a change of 55 [2] - Polyester-cotton yarn 65/35 45S price remained unchanged at 16500 [2] - Cotton 328 price decreased from 14415 to 14390, a change of -25 [2] - Polyester-cotton yarn profit increased from 1539 to 1585, a change of 45.92 [2] - Primary three-dimensional hollow (with silicon) price remained unchanged at 7210 [2] - Hollow staple fiber 6 - 15D cash flow increased from 175 to 213, a change of 37.89 [2] - Primary low-melting staple fiber price increased from 7250 to 7270, a change of 20 [2] Load and Production and Sales - Direct-spun staple fiber load (weekly) increased from 88.90% to 91.30%, a change of 0.02 [3] - Polyester staple fiber production and sales decreased from 30.00% to 47.00%, a change of -17.00% [3] - Polyester yarn startup rate (weekly) remained unchanged at 67.00% [3] - Regenerated cotton-type load index (weekly) remained unchanged at 50.40% [3]