瓶片短纤数据日报-20260105

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints - The US raided Venezuela, escalating geopolitical risks; OPEC+ stated that eight member countries will suspend increasing oil production in Q1 2026 [2] - The PX market has experienced a sharp rise, mainly driven by speculative funds rather than fundamental changes. Although there are concerns about bubbles, the PX fundamentals are supported, and the market is expected to remain tight in 2026 [2] - Domestic PTA maintains high production, benefiting from stable domestic demand and the resumption of exports to India since the end of November. High gasoline spreads support aromatics. New polyester installations keep the polyester load high, with high PTA consumption and increased market hoarding willingness [2][3] - Polyester demand weakens seasonally in China, but polyester factory production cuts are insufficient to form a negative feedback [3] Group 3: Summary by Relevant Catalogs Spot Price Changes - PTA spot price decreased from 5100 to 5095, a drop of 5 [2] - MEG domestic price decreased from 3694 to 3681, a drop of 13 [2] Closing Price Changes - PTA closing price decreased from 5144 to 5110, a drop of 34 [2] - MEG closing price decreased from 3847 to 3803, a drop of 44 [2] Short Fiber Market - 1.4D direct-spun polyester staple fiber price decreased from 6640 to 6545, a drop of 95 [2] - Short fiber basis decreased from 86 to 70, a drop of 16 [2] - 2 - 3 spread decreased from 8 to 4, a drop of 12 [2] - Polyester staple fiber cash flow increased from 240 to 246, an increase of 6 [2] Bottle Chip Market - Polyester bottle chip prices in the Jiangsu and Zhejiang markets increased by 35 yuan/ton on average, with a range of 6030 - 6100 yuan/ton [2] - PTA and bottle chip futures were closed, supply-side offers were stable with a slight increase, market negotiation was light, and downstream terminal demand was weak, but the negotiation focus shifted slightly upward [2] Other Product Price Changes - T32S pure polyester yarn price increased from 10400 to 10450, an increase of 50 [2] - T32S pure polyester yarn processing fee increased from 3760 to 3905, an increase of 145 [2] - Polyester-cotton yarn 65/35 45S price remained unchanged at 16370 [2] - Cotton 328 price increased from 15280 to 15315, an increase of 35 [2] - Polyester-cotton yarn profit increased from 1192 to 1242, an increase of 50 [2] Operating Rates and Production and Sales - Direct-spun short fiber load (weekly) increased from 88.37% to 89.32%, an increase of 0.95% [3] - Polyester short fiber production and sales increased from 55.00% to 57.00%, an increase of 2.00% [3] - Polyester yarn operating rate (weekly) remained unchanged at 66.00% [3] - Recycled cotton-type load index (weekly) remained unchanged at 51.10% [3]