Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - Domestic PTA plants have experienced concentrated breakdowns and maintenance, leading to a slight decline in domestic PTA production [2]. - The spread between PX and naphtha has widened, and the weakness of benzene prices has to some extent suppressed the further increase in PX production. The spread between PX and MX has rebounded, and the downstream load of polyester has remained at around 88%. The inventory of polyester factories is optimistic [2]. - The main polyester production cuts are concentrated in short - fiber and bottle - chip varieties. With the recent improvement in production and sales and inventory reduction, polyester prices have shown good performance, especially the inventory of filament has been well reduced, production and sales have been continuously optimistic, and profits have been significantly repaired. Attention should be paid to the impact of subsequent device progress on the market [2]. 3. Summary by Related Indicators 3.1 Price and Spread Changes - PTA spot price decreased from 4870 to 4850, a change of - 20 [2]. - MEG inner - market price increased from 4518 to 4542, a change of 24 [2]. - PTA closing price decreased from 4868 to 4862, a change of - 6 [2]. - MEG closing price increased from 4474 to 4509, a change of 35 [2]. - 1.4D direct - spun polyester staple fiber price decreased from 6680 to 6675, a change of - 5 [2]. - Short - fiber basis increased from 98 to 108, a change of 10 [2]. - 9 - 10 spread decreased from 108 to 110, a change of - 2 [2]. - Polyester staple fiber cash flow increased from 240 to 246, a change of 6 [2]. - The spread between 1.4D direct - spun and imitation large - chemical fiber decreased from 980 to 975, a change of - 5 [2]. - East China water bottle - chip price decreased from 5975 to 5954, a change of - 21 [2]. - Hot - filling polyester bottle - chip price decreased from 5975 to 5954, a change of - 21 [2]. - Carbonated - grade polyester bottle - chip price decreased from 6075 to 6054, a change of - 21 [2]. - Outer - market water bottle - chip price remained unchanged at 780 [2]. - Bottle - chip spot processing fee decreased from 298 to 286, a change of - 11.94 [2]. - T32S pure - polyester yarn price remained unchanged at 10350 [2]. - T32S pure - polyester yarn processing fee increased from 3670 to 3675, a change of 5 [2]. - Polyester - cotton yarn 65/35 45S price remained unchanged at 16300 [2]. - Cotton 328 price increased from 15180 to 15260, a change of 80 [2]. - Polyester - cotton yarn profit decreased from 1133 to 1106, a change of - 26.93 [2]. - Primary three - dimensional hollow (with silicon) price remained unchanged at 7100 [2]. - Hollow short - fiber 6 - 15D cash flow increased from 223 to 232, a change of 9.06 [2]. - Primary low - melting - point short - fiber price increased from 7450 to 7470, a change of 20 [2]. 3.2 Market Conditions - In the short - fiber market, the prices of polyester staple fiber production plants are stable, while those of traders are stable or falling. Downstream procurement enthusiasm is low, and on - site transactions are sluggish [2]. - In the bottle - chip market, the mainstream negotiation price of polyester bottle - chips in the Jiangsu and Zhejiang markets is between 5950 - 6080 yuan/ton, with the average price down 10 yuan/ton compared to the previous working day. Polyester raw materials and bottle - chip futures fluctuate within a narrow range, the supply - side offers are a mix of stable and falling, downstream terminals follow up cautiously, and the market trading atmosphere is light [2]. 3.3 Operating Rates and Production - Sales Ratios - Direct - spun short - fiber load (weekly) increased from 90.60% to 91.10%, a change of 0.01 [3]. - Polyester staple fiber production - sales ratio decreased from 61.00% to 45.00%, a change of - 16.00% [3]. - Polyester yarn startup rate (weekly) increased from 62.00% to 62.80%, a change of 0.01 [3]. - Regenerated cotton - type load index (weekly) decreased from 49.50% to 49.00%, a change of 0.01 [3].
瓶片短纤数据日报-20250826
Guo Mao Qi Huo·2025-08-26 12:38