瓶片短纤数据日报-20251021

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Views of the Report - PTA supply side is contracting, with Ningbo Yisheng Petrochemical Phase 4 reducing its load by 50% until the end of the month. PTA processing fees remain low, and industry profits are still constrained by over - capacity due to new plant commissions. [2] - Polyester downstream load remains above 90%, but high load has not led to large - scale inventory accumulation. With the end of the "Golden September and Silver October" period, there are concerns that subsequent textile and clothing demand will be affected by the trade war. [2] - PTA's operating rate may decline further, and due to the decline in crude oil prices, it is difficult for PTA to have an independent market. Bottle chips and short fibers continue to fluctuate with costs. [2] Group 3: Summary by Indicators Price Indicators - PTA spot price decreased from 4340 to 4315, a decrease of 25 [2] - MEG domestic price decreased from 4115 to 4100, a decrease of 15 [2] - PTA closing price decreased from 4402 to 4384, a decrease of 18 [2] - 1.4D direct - spun polyester staple fiber price decreased from 6370 to 6355, a decrease of 15 [2] - Polyester bottle chip prices in the Jiangsu and Zhejiang markets decreased, with the average price down 10 yuan/ton compared to the previous working day [2] Spread and Basis Indicators - Short - fiber basis decreased from 201 to 199, a decrease of 2 [2] - The 11 - 12 spread decreased from 26 to 4, a decrease of 22 [2] - The price difference between 1.4D direct - spun and imitation large - chemical fiber decreased from 920 to 905, a decrease of 15 [2] Cash Flow and Processing Fee Indicators - Polyester staple fiber cash flow decreased from 246 to 240, a decrease of 6 [2] - Bottle chip spot processing fee decreased from 539 to 542, a decrease of 2.6 [2] - T32S pure polyester yarn processing fee increased from 3910 to 3925, an increase of 15 [2] Load and Production and Sales Indicators - Direct - spun short - fiber load (weekly) decreased from 94.40% to 93.90% [3] - Polyester staple fiber production and sales decreased from 81.00% to 77.00%, a decrease of 4.00% [3] - Polyester yarn startup rate (weekly) remained unchanged at 63.50% [3] - Recycled cotton - type load index (weekly) decreased from 51.50% to 51.00% [3]