瓶片短纤数据日报-20251119

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints - Recently, the PX market has shown a rebound due to multiple factors. Despite the end of some planned maintenance and the gradual recovery of production capacity, PX output remains limited, driven by two key factors: the soaring gasoline profit margin, which prompts refineries to reduce raw material input into aromatics units and increase gasoline production, and the drop in benzene prices to a near - three - year low, leading refineries to lower the load of reforming and STDP units to limit benzene output and thus restrict PX supply [2] - PTA supply has slightly contracted, polyester operation has remained stable with a load above 90%, and domestic polyester exports are still optimistic. Although the "Golden September and Silver October" period has ended, downstream weaving has performed well, and export demand may improve. The costs of bottle chips and short fibers follow these trends [2] Group 3: Summary by Related Catalogs Price Changes - PTA spot price decreased from 4615 to 4610, a drop of 5; MEG inner - market price fell from 3980 to 3952, a decrease of 28; PTA closing price declined from 4692 to 4670, a drop of 22; MEG closing price dropped from 3938 to 3907, a decrease of 31 [2] - 1.4D direct - spun polyester staple fiber price decreased from 6375 to 6350, a drop of 25; short - fiber basis increased from 146 to 147, an increase of 1; 12 - 1 spread decreased from 46 to 42, a decrease of 4; polyester staple fiber cash flow increased from 240 to 246, an increase of 6 [2] - 1.4D direct - spun and imitation large - chemical fiber price difference decreased from 975 to 950, a decrease of 25; East China water bottle chip price decreased from 5727 to 5716, a drop of 11; hot - filled polyester bottle chip price decreased from 5727 to 5716, a drop of 11; carbonated - grade polyester bottle chip price decreased from 5827 to 5816, a drop of 11 [2] - T32S pure polyester yarn price remained unchanged at 10300; T32S pure polyester yarn processing fee increased from 3925 to 3950, an increase of 25; polyester - cotton yarn 65/35 45S price remained unchanged at 16300; cotton 328 price decreased from 14315 to 14280, a drop of 35; polyester - cotton yarn profit increased from 1662 to 1692, an increase of 30 [2] - The price of primary three - dimensional hollow (with silicon) remained unchanged at 7020; the cash flow of hollow short fiber 6 - 15D increased from 541 to 555, an increase of 14; the price of primary low - melting - point short fiber remained unchanged at 7480 [2] Market Conditions - In the short - fiber market, the main futures of polyester staple fiber dropped 40 to 6188. The prices of polyester staple fiber production factories were stable, while those of traders declined. Downstream demand was limited, and on - site transactions were sluggish [2] - In the bottle - chip market, the mainstream negotiation price of polyester bottle chips in the Jiangsu and Zhejiang markets was 5700 - 5820 yuan/ton, with the average price dropping 10 yuan/ton compared to the previous working day. PTA and bottle - chip futures fluctuated weakly, supply - side quotations were mixed, market trading was light, and downstream terminal demand was mainly rigid. The price center of bottle chips showed a slight downward trend [2] Operational Data - The weekly load of direct - spun short fibers increased from 85.63% to 89.32%, an increase of 3.69% [3] - The sales volume of polyester staple fibers decreased from 45.00% to 44.00%, a decrease of 1.00% [3] - The weekly startup rate of polyester yarn remained unchanged at 63.50% [3] - The load index of recycled cotton - type fibers increased from 51.00% to 51.50%, an increase of 0.50% [3]