瓶片短纤数据日报-20250805

Group 1: Report's Investment Rating - No information provided Group 2: Core Views - Commodity sentiment has weakened, PTA basis has weakened and trading volume has declined. Domestic PTA production capacity supply has contracted, and PTA port inventory has decreased. The spread between PX and naphtha has expanded to around $250, while the alkyl transfer and TDP profit margins are not optimistic. The spread between PX and MX has remained at around $90. In July, bottle chips and staple fibers are about to enter the maintenance period. The market port inventory has decreased, and polyester replenishment has improved under the weakening basis. The overall polyester inventory is not high, and the polyester load has dropped to 88% [2] Group 3: Summary by Indicators Price and Spread - PTA spot price decreased from 4750 to 4690, a change of -60; MEG inner - market price increased from 4455 to 4480, a change of 25; PTA closing price decreased from 4698 to 4744, a change of -46; MEG closing price increased from 4389 to 4405, a change of -16; 1.4D direct - spun polyester staple decreased from 6575 to 6600, a change of -25; short - fiber basis decreased from 151 to 140, a change of 11; 8 - 9 spread increased from 35 to 48, a change of 13; the spread between 1.4D direct - spun and imitation large - chemical decreased from 825 to 850, a change of -25; bottle - chip spot processing fee decreased from 433 to 386, a change of 46.68; T32S pure - polyester yarn processing fee decreased from 3725 to 3700, a change of 25; polyester - cotton yarn profit decreased from 1329 to 1335, a change of -6.11; hollow short - fiber 6 - 15D cash flow decreased from 358 to 308, a change of 49.68 [2] Market Conditions - In the staple - fiber market, the price of polyester staple - fiber production factories remained stable, while the price of traders decreased. Downstream buyers purchased as needed, and the trading volume was low. The price of 1.56dtex*38mm semi - bright (1.4D) polyester staple fiber in the East China market was 6310 - 6700 cash on the spot, tax - included self - pick - up; in the North China market, it was 6430 - 6820 cash on the spot, tax - included delivery; in the Fujian market, it was 6310 - 6600 cash on the spot, tax - included delivery. In the bottle - chip market, the mainstream negotiation price of polyester bottle chips in the Jiangsu and Zhejiang market was 5880 - 5980 yuan/ton, with the average price down 30 yuan/ton from the previous working day. Polyester raw materials and bottle - chip futures fluctuated weakly, most offers on the supply side were adjusted down, downstream terminals replenished inventory at low prices, and the market negotiation atmosphere was okay, but the price center of bottle chips declined today [2] Operating Rates - Direct - spun staple - fiber load (weekly) decreased from 93.00% to 92.30%, a change of -0.01; polyester staple - fiber sales rate decreased from 52.00% to 50.00%, a change of 2.00%; polyester yarn operating rate (weekly) increased from 65.00% to 66.00%, a change of -0.01; recycled cotton - type load index (weekly) increased from 46.00% to 51.50%, a change of -0.06 [3]