瓶片短纤数据日报-20251110

Industry Investment Rating - No relevant information provided Core Viewpoints - Gasoline profit and low benzene prices jointly support PX. The gasoline crack spread has risen above $15, prompting refineries to prioritize gasoline production and reduce feedstock for aromatics units. The processing fee of PTA has been compressed to less than 200 again. Industry profits are still constrained by overcapacity due to new plant commissions. Although the peak seasons of "Golden September and Silver October" are over, export demand may improve under the background of the easing of the Sino - US trade war. The downstream weaving has performed well recently, and the current peak season is expected to last until November. It is necessary to pay attention to whether the reduction of Sino - US tariffs can further stimulate domestic exports. Bottle chips and staple fibers follow the cost [2] Summary by Related Indicators Spot Price Changes - PTA spot price increased from 4540 to 4575, up 35 [2] - MEG internal price increased from 3972 to 4013, up 41 [2] - PTA closing price decreased from 4688 to 4664, down 24 [2] - MEG closing price increased from 3924 to 3942, up 18 [2] - 1.4D direct - spun polyester staple fiber price increased from 6380 to 6415, up 35 [2] - Short - fiber basis decreased from 135 to 122, down 13 [2] - 12 - 1 spread decreased from 34 to 38, down 4 [2] - Polyester staple fiber cash flow increased from 240 to 246, up 6 [2] - 1.4D imitation large - chemical fiber price remained unchanged at 5400 [2] - The price difference between 1.4D direct - spun and imitation large - chemical fiber increased from 980 to 1015, up 35 [2] - East China water bottle chip price decreased from 5700 to 5698, down 2 [2] - Hot - filled polyester bottle chip price decreased from 5700 to 5698, down 2 [2] - Carbonated - grade polyester bottle chip price decreased from 5800 to 5798, down 2 [2] - Outer - market water bottle chip price remained unchanged at 760 [2] - Bottle chip spot processing fee decreased from 488 to 442, down 45.66 [2] - T32S pure polyester yarn price remained unchanged at 10310 [2] - T32S pure polyester yarn processing fee decreased from 3930 to 3865, down 35 [2] - Polyester - cotton yarn 65/35 45S price remained unchanged at 16300 [2] - Cotton 328 price decreased from 14490 to 14465, down 25 [2] - Polyester - cotton yarn profit decreased from 1593 to 1579, down 13.75 [2] - Primary three - dimensional hollow (with silicon) price remained unchanged at 7020 [2] - Hollow staple fiber 6 - 15D cash flow decreased from 608 to 564, down 43.66 [2] - Primary low - melting - point staple fiber price remained unchanged at 7480 [2] Operating Rate and Sales Rate - Direct - spun staple fiber load (weekly) increased from 93.90% to 94.40%, up 0.01 [3] - Polyester staple fiber sales rate decreased from 86.00% to 48.00%, down 38.00% [3] - Polyester yarn startup rate (weekly) remained unchanged at 63.50% [3] - Regenerated cotton - type load index (weekly) increased from 51.00% to 51.50%, up 0.01 [3]