瓶片短纤数据日报-20251016

Report Summary 1. Report Industry Investment Rating - No information provided in the report. 2. Core Viewpoints - Market competition intensifies, and crude oil prices drop significantly. PX market transactions are scarce, and transaction prices plummet. Polyester downstream procurement halts. Asian naphtha cracking operates stably, with the spread between MX and naphtha narrowing from $88/ton last week to $85/ton, and the spread between PX and MX dropping to $132, continuing to support PX short - process profits. The US - Asia MX arbitrage window widens to $185, but there is no news of South Korea shipping to the US. Domestic large - scale PTA plants undergo rotational inspections, and domestic PTA production declines. Domestic PTA basis weakens, and demand remains stable. Polyester's operating load rebounds to 91%. Due to weak crude oil, PTA performs poorly. Bottle chips and short fibers continue to fluctuate with costs [2]. 3. Key Data Summaries Price Changes - PTA spot price drops from 4380 to 4325, a decrease of 55 [2]. - MEG domestic price falls from 4145 to 4114, a decrease of 31 [2]. - 1.4D direct - spun polyester staple fiber price decreases from 6385 to 6375, a decrease of 10 [2]. - Polyester bottle chip prices in the South China market drop, with the average price falling by 20 yuan/ton [2]. Market Conditions - Polyester short - fiber futures fall by 26 to 6050. In the spot market, prices of polyester short - fiber production plants are weakly negotiated, and trader prices decline. Downstream purchases as needed, and there are few transactions in the market [2]. - In the bottle - chip market, PTA and bottle - chip futures operate weakly. Supply - side offers are mainly lowered, downstream end - users replenish stocks with small orders for rigid demand, and the market negotiation atmosphere is cautious [2]. Operating Load and Production and Sales - Direct - spun short - fiber load (weekly) rises from 93.90% to 94.40%, an increase of 0.01 [3]. - Polyester short - fiber production and sales increase from 46.00% to 49.00%, an increase of 3.00% [3]. - Polyester yarn startup rate (weekly) remains unchanged at 63.50% [3]. - Regenerated cotton - type load index (weekly) drops from 51.50% to 51.00%, a decrease of 0.01 [3].