瓶片短纤数据日报-20251028

Report Industry Investment Rating - No relevant content provided Core Viewpoints - Market rumors of the PTA industry's "anti-involution" policy drove the PTA price to rise rapidly in the afternoon. Despite the continuous recovery of crude oil prices, the PTA price had only rebounded slightly before. Although the overall load of domestic PTA plants decreased due to low processing fees, the polyester industry's profit was still constrained by overcapacity pressure from new production capacity and overseas plant commissioning. With the cost support provided by rising crude oil prices, the PTA price rebounded rapidly after a long period of low operation, stimulated by policy expectations. Currently, the operating rate of the polyester downstream remains above 91%, with demand slightly exceeding expectations, and recent polyester production and sales have been relatively high. Additionally, against the backdrop of positive news from the China-US economic and trade negotiations over the weekend, overseas demand for Chinese textile and clothing products is expected to recover [2] Summary by Related Catalogs Short Fiber Data - The main futures of polyester staple fiber rose by 82 to 6242. In the spot market, the prices of polyester staple fiber production plants fluctuated slightly, while those of traders increased slightly. Downstream purchasing intention was low, and on-site transactions were average. The price of 1.56dtex*38mm semi-gloss (1.4D) polyester staple fiber in the East China market was 6150 - 6460 (cash on the spot, tax-included, self-pickup), 6270 - 6580 in the North China market (cash on the spot, tax-included, delivered), and 6150 - 6370 in the Fujian market (cash on the spot, tax-included, delivered) [2] - The short fiber basis decreased from 178 to 78, a change of -100. The 11 - 12 spread decreased from 32 to 14, a change of -18. The polyester staple fiber cash flow increased from 240 to 246, a change of 6 [2] Bottle Chip Data - Market news indicated that raw material PTA and bottle chip enterprises were about to launch anti-involution work, which was beneficial to the supply side. Raw material prices rose significantly, and polyester bottle chip factories followed suit, increasing prices by 50 - 70. The market center also moved up. However, downstream and traders were unable to follow the price increase. It was reported that the morning transaction price was 5650 - 5700, and it was raised by 50 in the afternoon. The difference between bid and ask prices was large, and transactions were scarce [2] Price and Cost Data - PTA spot price increased from 4450 to 4505, a change of 55. MEG domestic price decreased from 4187 to 4183, a change of -4. PTA closing price increased from 4518 to 4616, a change of 98. MEG closing price increased from 4077 to 4109, a change of 32 [2] - The price of 1.4D direct-spun polyester staple fiber increased from 6400 to 6405, a change of 5. The price of 1.4D imitation large chemical fiber remained unchanged at 5400. The price difference between 1.4D direct-spun and imitation large chemical fiber increased from 1000 to 1005, a change of 5 [2] - The price of East China water bottle chips increased from 5677 to 5725, a change of 48. The price of hot-filled polyester bottle chips increased from 5677 to 5725, a change of 48. The price of carbonated polyester bottle chips increased from 5777 to 5825, a change of 48. The price of overseas water bottle chips increased from 750 to 755, a change of 5 [2] - The bottle chip spot processing fee increased from 470 to 472, a change of 2.32. The price of T32S pure polyester yarn remained unchanged at 10300. The T32S pure polyester yarn processing fee decreased from 3900 to 3865, a change of -5 [2] - The price of polyester-cotton yarn 65/35 45S remained unchanged at 16350. The price of cotton 328 increased from 14555 to 14565, a change of 10. The profit of polyester-cotton yarn decreased from 1605 to 1598, a change of -7.1 [2] - The price of primary three-dimensional hollow (with silicon) remained unchanged at 6955. The cash flow of hollow staple fiber 6 - 15D decreased from 548 to 502, a change of -45.69. The price of primary low-melting staple fiber remained unchanged at 7410 [2] Operating Rate and Production and Sales Data - The direct-spun staple fiber load (weekly) increased from 93.90% to 94.40%, a change of 0.01. The polyester staple fiber production and sales increased from 51.00% to 80.00%, a change of 29.00%. The polyester yarn startup rate (weekly) remained unchanged at 63.50%. The recycled cotton-type load index (weekly) decreased from 51.50% to 51.00%, a change of 0.01 [3]