瓶片短纤数据日报-20260112

Group 1: Report's Investment Rating - No relevant information provided Group 2: Core Viewpoints - Market sentiment is receding, and the PX market has experienced a rapid rise. This surge is mainly driven by speculative funds rather than fundamental changes. The futures market is now leading the price - discovery mechanism, and the trend is self - strengthening. Although there are concerns about bubbles, the PX fundamentals are supported, and the market is expected to remain tight in 2026, driven by new PTA capacity in India and organic demand growth [2] Group 3: Summary by Indicators Price Indicators - PTA spot price decreased from 5070 to 5035, a decrease of 35; MEG inner - market price decreased from 3717 to 3697, a decrease of 20; PTA closing price increased from 5086 to 5108, an increase of 22; MEG closing price increased from 3846 to 3866, an increase of 20 [2] - 1.4D direct - spinning polyester staple fiber price decreased from 6520 to 6515, a decrease of 5; short - fiber basis decreased from 34 to 33, a decrease of 1; 2 - 3 spread remained unchanged at 18 [2] - Polyester staple fiber cash flow increased from 240 to 246, an increase of 6; 1.4D imitation large - chemical fiber price remained unchanged at 5275; the price difference between 1.4D direct - spinning and imitation large - chemical fiber decreased from 1245 to 1240, a decrease of 5 [2] - East China water bottle chip price increased from 6032 to 6062, an increase of 30; hot - filling polyester bottle chip price increased from 6032 to 6062, an increase of 30; carbonated - grade polyester bottle chip price increased from 6132 to 6162, an increase of 30; outer - market water bottle chip price decreased from 805 to 800, a decrease of 5 [2] - Bottle - chip spot processing fee increased from 452 to 519, an increase of 67; T32S pure polyester yarn price remained unchanged at 10500; T32S pure polyester yarn processing fee increased from 3980 to 3985, an increase of 5 [2] - Polyester - cotton yarn 65/35 45S price remained unchanged at 16600; cotton 328 price decreased from 15610 to 15510, a decrease of 100; polyester - cotton yarn profit increased from 1377 to 1418, an increase of 41 [2] - Primary three - dimensional hollow (with silicon) price remained unchanged at 7210; hollow staple fiber 6 - 15D cash flow increased from 430 to 467, an increase of 37; primary low - melting - point staple fiber price remained unchanged at 7775 [2] Market Conditions - Short - fiber: The main short - fiber futures dropped 16 to 6504. In the spot market, polyester staple fiber production factories mainly negotiated prices, while traders' prices declined. Downstream purchasing enthusiasm was poor, and on - site transactions were scarce [2] - Bottle - chip: The mainstream negotiation price of polyester bottle chips in the Jiangsu and Zhejiang markets was 6030 - 6100 yuan/ton, with the average price rising 10 yuan/ton compared to the previous working day. PTA and bottle - chip futures fluctuated, the support from the cost side was average, most supply - side offers were lowered, local supplies were tight, the low - end price center shifted upward, the overall market trading atmosphere was weak, and the market negotiation center moved up slightly [2] Operating Rate and Sales Rate - Direct - spinning short - fiber load (weekly) increased from 86.77% to 88.84%, an increase of 2.07%; polyester staple fiber sales rate increased from 66.00% to 72.00%, an increase of 6.00% [2][3] - Polyester yarn startup rate (weekly) remained unchanged at 66.00%; recycled cotton - type load index (weekly) remained unchanged at 51.10% [2][3]