瓶片短纤数据日报-20251229

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints - PX market sentiment is supported by the expectation of tight supply in Q1 2026, with the PX - naphtha spread widening to $360 and the PX - mixed xylene spread rising to $244, which encourages PX producers to actively purchase MX for conversion [2] - Demand remains robust, with domestic PTA maintaining high operation rates, benefiting from stable domestic demand and the resumption of exports to India since the end of November [2] - High gasoline spreads support aromatics. New polyester installations drive high polyester load, keeping PTA consumption high and increasing market hoarding willingness, leading to a rapid strengthening of the basis [2] - Polyester demand weakens seasonally in China, but polyester factory production cuts are insufficient to form a negative feedback. Amid the enthusiasm in the commodity market, PTA prices are significantly boosted, and the costs of bottle chips and short fibers follow suit [2] Group 3: Summary of Index Data PTA and MEG Prices - PTA spot price increased from 5050 to 5175, a rise of 125; PTA closing price rose from 5152 to 5280, an increase of 128 [2] - MEG domestic price increased from 3653 to 3666, a rise of 13; MEG closing price rose from 3818 to 3846, an increase of 28 [2] Short Fiber Data - 1.4D direct - spun polyester staple fiber price increased from 6575 to 6690, a rise of 115; short - fiber basis increased from 100 to 114, an increase of 14 [2] - 2 - 3 spread decreased from 6 to 0, a decline of 6; 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 spread increased from 1300 to 1415, a rise of 115 [2] - Direct - spun short - fiber load (weekly) increased from 88.37% to 89.32%, a rise of 0.95%; polyester staple fiber production and sales increased from 56.00% to 90.00%, a rise of 34.00% [2][3] - Polyester yarn startup rate (weekly) remained unchanged at 66.00%; recycled cotton - type load index (weekly) remained unchanged at 51.10% [3] Bottle Chip Data - Polyester bottle chip prices in the Jiangsu - Zhejiang market increased, with the average price rising by 95 yuan/ton; prices of various types of bottle chips (including water bottle chips, hot - filled polyester bottle chips, etc.) all increased by 80 [2] - Outer - market water bottle chip price increased from 795 to 805, a rise of 10; bottle chip spot processing fee decreased from 469 to 438, a decline of 31 [2] Other Product Data - T32S pure polyester yarn price increased from 10350 to 10360, a rise of 10; T32S pure polyester yarn processing fee decreased from 3775 to 3670, a decline of 105 [2] - Polyester - cotton yarn 65/35 45S price increased from 16300 to 16350, a rise of 50; polyester - cotton yarn profit decreased from 1271 to 1137, a decline of 134 [2] - Cotton 328 price increased from 15000 to 15285, a rise of 285 [2] - Primary three - dimensional hollow (with silicon) price increased from 7150 to 7215, a rise of 65; hollow short - fiber 6 - 15D cash flow decreased from 408 to 362, a decline of 46 [2] - Primary low - melting - point short - fiber price increased from 7690 to 7775, a rise of 85 [2]