瓶片短纤数据日报-20251219

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core View of the Report - Gasoline crack spreads have declined, but PX prices are strong, supporting the PX - naphtha spread [2]. - Despite no significant fundamental changes in supply or demand, PTA plants maintain high - load operation, and PX consumption remains stable [2]. - The spread between PX and mixed xylene has widened to $120, leading Korean manufacturers to cut STDP operations and plan to shut down relevant facilities in the second half of December [2]. - PX costs are high, squeezing PTA profits, but integrated enterprises have improved economic benefits due to raw material self - sufficiency [2]. - New polyester plant startups keep polyester load at a high level, PTA consumption is high, and market hoarding willingness increases, causing the basis to strengthen rapidly [2]. - Although domestic demand is seasonally weak, polyester factories have low - to - medium inventory levels, so their 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 and Spread Changes - PTA spot price increased from 4605 to 4650, a change of 45; PTA closing price rose from 4684 to 4748, a change of 64 [2]. - MEG domestic price remained at 3667, with no change; MEG closing price increased from 3758 to 3767, a change of 9 [2]. - 1.4D direct - spun polyester staple fiber price rose from 6340 to 6350, a change of 10; short - fiber basis increased from 139 to 140, a change of 1 [2]. - The 1 - 2 spread decreased from 24 to 8, a change of - 16; polyester staple fiber cash flow increased from 240 to 246, a change of 6 [2]. - The price difference between 1.4D direct - spun and imitation large - chemical fiber increased from 1065 to 1075, a change of 10 [2]. - East China water - bottle chip price rose from 5677 to 5695, a change of 18; hot - filling polyester bottle chip price increased from 5677 to 5695, a change of 18; carbonated - grade polyester bottle chip price rose from 5777 to 5795, a change of 18; outer - market water - bottle chip price increased from 750 to 755, a change of 5 [2]. - Bottle - chip spot processing fee decreased from 511 to 491, a change of - 20 [2]. - T32S pure - polyester yarn price remained at 10270, with no change; T32S pure - polyester yarn processing fee decreased from 3930 to 3920, a change of - 10 [2]. - Polyester - cotton yarn 65/35 45S price remained at 16290, with no change; polyester - cotton yarn profit decreased from 1524 to 1504, a change of - 20 [2]. - Cotton 328 price rose from 14715 to 14750, a change of 35 [2]. 3.2 Industry Operation Indicators - Direct - spun staple fiber load (weekly) increased from 88.37% to 89.32%, a change of 0.95% [3]. - Polyester staple fiber sales increased from 66.00% to 72.00%, a change of 6.00% [3]. - Polyester yarn startup rate (weekly) remained at 66.00%, with no change [3]. - Regenerated cotton - type load index (weekly) remained at 51.10%, with no change [3].