瓶片短纤数据日报-20251217

Report Summary 1. Report Industry Investment Rating - No information provided in the given content. 2. Core Viewpoints - Gasoline crack spreads have declined, but PX prices are strong, supporting the PX - naphtha spread. Despite no significant fundamental changes in supply disruptions or sudden demand increases, PTA plants maintain high - load operation, and PX consumption remains stable. The PX - mixed xylene spread has widened to $120, leading Korean manufacturers to cut STDP operations and plan to shut down relevant facilities in the second half of December. PX cost is high while PTA profit is under pressure, but integrated enterprises have improved economic benefits due to raw material self - sufficiency. New polyester plant startups keep polyester load at a high level, PTA consumption remains high, and market hoarding willingness increases, causing the basis to strengthen rapidly. Although domestic demand is seasonally weak, polyester factories have medium - to - low inventories, so the willingness to cut production is low. The cancellation of India's BIS certification is expected to drive export growth [2]. 3. Summary by Related Indicators 3.1 Price Changes - PTA spot price remained unchanged at 4620 from 2025/12/15 to 2025/12/16 [2]. - MEG inner - market price decreased by 12 to 3634 [2]. - PTA closing price increased by 40 to 4668 [2]. - MEG closing price increased by 40 to 3700 [2]. - 1.4D direct - spinning polyester staple fiber price remained unchanged at 6325 [2]. - Short - fiber basis remained unchanged at 130 [2]. - 1 - 2 spread increased by 4 to 16 [2]. - Polyester staple fiber cash flow increased by 6 to 246 [2]. - 1.4D imitation large - fiber price remained unchanged at 5300 [2]. - The price difference between 1.4D direct - spinning and imitation large - fiber remained unchanged at 1025 [2]. - East China water - grade bottle chips price decreased by 18 to 5653 [2]. - Hot - filling polyester bottle chips price decreased by 18 to 5653 [2]. - Carbonated - grade polyester bottle chips price decreased by 18 to 5753 [2]. - Outer - market water - grade bottle chips price remained unchanged at 750 [2]. - Bottle - chip spot processing fee decreased by 14 to 486 [2]. - T32S pure polyester yarn price remained unchanged at 10270 [2]. - T32S pure polyester yarn processing fee remained unchanged at 3945 [2]. - Polyester - cotton yarn 65/35 45S price remained unchanged at 16290 [2]. - Cotton 328 price increased by 25 to 14715 [2]. - Polyester - cotton yarn profit decreased by 9 to 1534 [2]. - Primary three - dimensional hollow (silicone - containing) price decreased by 30 to 7000 [2]. - Hollow staple fiber 6 - 15D cash flow decreased by 26 to 633 [2]. - Primary low - melting - point staple fiber price increased by 1 to 7606 [2]. 3.2 Load and Production - Sales Rates - Direct - spinning staple fiber load (weekly) increased by 0.95% to 89.32% [3]. - Polyester staple fiber production - sales rate increased by 23.00% to 79.00% [3]. - Polyester yarn startup rate (weekly) remained unchanged at 66.00% [3]. - Regenerated cotton - type load index (weekly) remained unchanged at 51.10% [3].