瓶片短纤数据日报-20251010

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints - Crude oil prices are running weakly, and the PX market has few transactions. Polyester downstream procurement stagnated during the holiday. The Asian naphtha crack spread was stable during the holiday, the spread between MX and naphtha narrowed from $88/ton last week to $85/ton, and the spread between PX and MX dropped to $132, continuing to support PX short - process profits. The US - Asia MX arbitrage window widened to $185, but there was no news of shipments from South Korea to the US. Domestic large - scale PTA plants are undergoing rotational inspections, and domestic PTA production has declined. The domestic PTA basis has quickly declined, and demand has not significantly increased. The polyester operating load has rebounded to 91%. Due to the weak crude oil, PTA has shown weakness. Bottle chips and staple fibers continue to fluctuate with costs [2] Group 3: Summary by Indicators Spot and Futures Prices - PTA spot price decreased from 4535 to 4500, a decrease of 35; MEG inner - market price decreased from 4275 to 4224, a decrease of 51; PTA closing price decreased from 4594 to 4584, a decrease of 10; MEG closing price decreased from 4207 to 4158, a decrease of 49 [2] - 1.4D direct - spun polyester staple fiber price decreased from 6465 to 6460, a decrease of 5; short - fiber basis increased from 129 to 137, an increase of 8; 10 - 11 spread decreased from 22 to 0, a decrease of 22 [2] - Polyester bottle - chip market prices declined. The prices of East China water bottle chips, hot - filled polyester bottle chips, and carbonated - grade polyester bottle chips all decreased by 46, and the outer - market water bottle chips decreased from 760 to 755, a decrease of 5 [2] Cash Flows and Processing Fees - Polyester staple - fiber cash flow increased from 240 to 246, an increase of 6; bottle - chip spot processing fee increased from 502 to 503, an increase of 1.01; T32S pure - polyester yarn processing fee increased from 3835 to 3840, an increase of 5; polyester - cotton yarn profit increased from 1566 to 1586, an increase of 20.32; hollow short - fiber 6 - 15D cash flow increased from 510 to 537, an increase of 27.01 [2] Operating Rates and Sales Ratios - Direct - spun short - fiber load (weekly) decreased slightly from 94.40% to 93.90%; polyester staple - fiber sales ratio increased from 57.00% to 67.00%, an increase of 10.00%; polyester yarn startup rate (weekly) remained unchanged at 63.50%; recycled cotton - type load index (weekly) decreased slightly from 51.50% to 51.00% [3] Other Prices - 1.4D direct - spun and imitation - large - chemical spread decreased from 940 to 935, a decrease of 5; T32S pure - polyester yarn price remained unchanged at 10300; polyester - cotton yarn 65/35 45S price remained unchanged at 16350; cotton 328 price decreased from 14545 to 14500, a decrease of 45; primary three - dimensional hollow (with silicon) price decreased from 7020 to 7000, a decrease of 20; primary low - melting - point short - fiber price remained unchanged at 7350 [2]