瓶片短纤数据日报-20251222

Group 1: Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Group 2: Report's Core View - 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 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. PX costs are high while PTA profits are under pressure, but integrated enterprises have improved economic benefits due to raw material self - sufficiency. New polyester installations have pushed the polyester load to a high level, PTA consumption is high, market inventory willingness has increased, and the basis has strengthened 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]. Group 3: Summary According to Related Data (Market Conditions) 1. Price Changes of Key Products - PTA spot price increased from 4650 to 4750, a change of 100; MEG internal - market price decreased from 3667 to 3633, a change of - 34; PTA closing price rose from 4748 to 4882, a change of 134; MEG closing price dropped from 3767 to 3738, a change of - 29; 1.4D direct - spun polyester staple fiber price increased from 6350 to 6400, a change of 50; short - fiber basis decreased from 140 to 121, a change of - 19; 2 - 3 spread increased from 12 to 16, a change of 4; polyester staple fiber cash flow increased from 240 to 246, a change of 6; 1.4D imitation large - chemical fiber price remained unchanged at 5275; the spread between 1.4D direct - spun and imitation large - chemical fiber increased from 1075 to 1125, a change of 50; East China water - bottle chip price increased from 5695 to 5708, a change of 13; hot - filling polyester bottle chip price increased from 5695 to 5708, a change of 13; carbonated - grade polyester bottle chip price increased from 5795 to 5808, a change of 13; outer - market water - bottle chip price increased from 755 to 765, a change of 10; bottle - chip spot processing fee decreased from 491 to 430, a change of - 61; T32S pure - polyester yarn price remained unchanged at 10270; T32S pure - polyester yarn processing fee decreased from 3920 to 3870, a change of - 50; polyester - cotton yarn 65/35 45S price remained unchanged at 16290; cotton 328 price increased from 14750 to 14785, a change of 35; polyester - cotton yarn profit decreased from 1504 to 1458, a change of - 46; primary three - dimensional hollow (with silicon) price increased from 7000 to 7030, a change of 30; hollow staple fiber 6 - 15D cash flow decreased from 596 to 552, a change of - 44; primary low - melting - point staple fiber price remained unchanged at 7515 [2]. 2. Market Conditions of Short - fiber and Bottle - chip - Short - fiber: The main futures of polyester staple fiber rose 142 to 6292. In the spot market, the prices of polyester staple fiber production plants were stable with some increases, and the prices of traders were raised. There was more replenishment in the futures and spot markets, but downstream purchases were less, and the production and sales of factories were fair. The price of 1.56dtex*38mm semi - bright (1.4D) polyester staple fiber in the East China market was 6180 - 6460 (cash on the spot, tax - included, self - pick - up), in the North China market was 6300 - 6580 (cash on the spot, tax - included, delivered), and in the Fujian market was 6150 - 6400 (cash on the spot, tax - included, delivered) [2]. - Bottle - chip: The mainstream negotiation price of polyester bottle chips in the Jiangsu and Zhejiang markets was 5720 - 5810 yuan/ton, and the average price increased by 40 yuan/ton compared with the previous working day. PTA and bottle - chip futures fluctuated strongly. The supply side mainly raised offers, the market trading atmosphere was light, downstream terminals were cautiously waiting and watching, and the market negotiation center rose [2]. 3. Load and Production - Sales Data - Direct - spun short - fiber load (weekly) increased from 88.37% to 89.32%, an increase of 0.95%; polyester staple fiber production and sales increased from 72.00% to 92.00%, an increase of 20.00%; polyester yarn startup rate (weekly) remained unchanged at 66.00%; recycled cotton - type load index (weekly) remained unchanged at 51.10% [3].