瓶片短纤数据日报-20251121

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core Viewpoints - Recently, the PX market has rebounded due to multiple factors. Despite the end of some planned maintenance and the gradual recovery of production capacity, PX output is still limited, driven by two key factors: the soaring gasoline profit margin, which prompts refineries to reduce raw material input in aromatic 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 PX supply [2] - PTA supply has slightly shrunk, polyester operation remains stable with a load of over 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 of Related Data Price Data - PTA spot price increased from 4610 to 4630, a change of 20; MEG inner - market price decreased from 3919 to 3885, a change of - 34; PTA closing price decreased from 4712 to 4696, a change of - 16; MEG closing price decreased from 3903 to 3822, a change of - 81 [2] - 1.4D direct - spun polyester staple fiber price remained at 6370; short - fiber basis decreased from 128 to 110, a change of - 18; 12 - 1 spread decreased from 48 to 50, a change of - 2; polyester staple fiber cash flow increased from 240 to 246, a change of 6 [2] - 1.4D imitation large - denier fiber price remained at 5400; the price difference between 1.4D direct - spun and imitation large - denier fiber remained at 970; East China water bottle chip price decreased from 5758 to 5716, a change of - 42; hot - filled polyester bottle chip price decreased from 5758 to 5716, a change of - 42; carbonated - grade polyester bottle chip price decreased from 5858 to 5816, a change of - 42; outer - market water bottle chip price remained at 760; bottle - chip spot processing fee decreased from 504 to 456, a change of - 48 [2] - T32S pure polyester yarn price remained at 10300; T32S pure polyester yarn processing fee remained at 3930; polyester - cotton yarn 65/35 45S price remained at 16300; cotton 328 price increased from 14320 to 14340, a change of 20; polyester - cotton yarn profit decreased from 1664 to 1656, a change of - 8 [2] - Primary three - dimensional hollow (with silicon) price increased from 7020 to 7035, a change of 15; hollow short - fiber 6 - 15D cash flow increased from 566 to 575, a change of 9; primary low - melting - point short fiber price remained at 7480 [2] Operating Rate and Sales Data - Direct - spun short - fiber load (weekly) increased from 88.37% to 89.32%, a change of 0.95%; polyester staple fiber sales decreased from 65.00% to 35.00%, a change of - 30.00%; polyester yarn startup rate (weekly) remained at 66.00%; recycled cotton - type load index (weekly) remained at 51.10% [3]