瓶片短纤数据日报-20260113

Group 1: Report Industry Investment Rating - No relevant content found Group 2: Core View of the Report - The PX market has experienced a rapid rise, mainly driven by speculative funds rather than fundamental changes. The futures market is leading the price - discovery mechanism, showing a "irrational prosperity" feature with self - reinforcing trends. Although there are concerns about bubbles, the PX fundamentals are supported, and the market is expected to remain tight in 2026. The PX - naphtha spread has widened to $360, and the PX - mixed xylene spread has reached $155, improving the economics of aromatics extraction. The PX market is at a critical juncture between speculative sentiment and fundamental tensions. [2] Group 3: Summary According to the Data in the Report Price and Price Change - From January 9th to January 12th, 2026, the PTA spot price rose from 5035 to 5100, an increase of 65; the MEG inner - market price rose from 3697 to 3734, an increase of 37; the PTA closing price rose from 5108 to 5142, an increase of 34; the MEG closing price rose from 3866 to 3880, an increase of 14; the 1.4D direct - spinning polyester staple fiber price rose from 6515 to 6520, an increase of 5; the short - fiber basis decreased from 54 to 38, a decrease of 16; the 2 - 3 spread remained unchanged at 18; the polyester staple fiber cash - flow increased from 240 to 246, an increase of 6; the 1.4D imitation - large - chemical fiber price remained unchanged at 5275; the price difference between 1.4D direct - spinning and imitation - large - chemical fiber increased from 1240 to 1245, an increase of 5; the East - China water - bottle chip price rose from 6062 to 6125, an increase of 63; the hot - filling polyester bottle chip price rose from 6062 to 6125, an increase of 63; the carbonated - grade polyester bottle chip price rose from 6162 to 6225, an increase of 63; the outer - market water - bottle chip price rose from 800 to 810, an increase of 10; the bottle - chip spot processing fee decreased from 519 to 514, a decrease of 5; the T32S pure - polyester yarn price rose from 10500 to 10600, an increase of 100; the T32S pure - polyester yarn processing fee rose from 3985 to 4080, an increase of 95; the polyester - cotton yarn 65/35 45S price remained unchanged at 16600; the cotton 328 price decreased from 15510 to 15365, a decrease of 145; the polyester - cotton yarn profit increased from 1418 to 1469, an increase of 51; the primary three - dimensional hollow (with silicon) price remained unchanged at 7210; the hollow staple fiber 6 - 15D cash - flow decreased from 467 to 399, a decrease of 68; the primary low - melting - point staple fiber price remained unchanged at 7775. [2] Market Conditions - Short - fiber market: The short - fiber main futures rose 8 to 6502. The polyester staple fiber production factory prices were stable, and the trader prices increased slightly. Downstream buyers purchased as needed, and the on - site transactions were light. The price of 1.56dtex*38mm semi - bright natural white (1.4D) polyester staple fiber in the East - China market was 6400 - 6650 for cash - on - delivery, tax - included self - pick - up; in the North - China market, it was 6520 - 6770 for cash - on - delivery, tax - included delivery; in the Fujian market, it was 6460 - 6630 for cash - on - delivery, tax - included delivery. The direct - spinning staple - fiber load increased from 86.77% to 88.84%, and the polyester staple - fiber production and sales increased from 72.00% to 87.00%. The polyester - yarn startup rate and the recycled cotton - type load index remained unchanged. [2][3] - Bottle - chip market: Crude oil continued to rise, and raw materials were strong. Supply continued to shrink, and polyester bottle - chip factory quotes mostly increased by 10 - 100. The market center increased significantly. It was reported that the January supply was traded at 6050 - 6140, with some supplies slightly lower at 6030, 6000, and slightly higher at 6170. The basis was stable, and the 2603 contract was at par to a premium of 40. Downstream buyers made sporadic spot purchases for rigid needs, and the trading was light. [2] Industry Situation - Domestic PTA maintained a high operating rate, benefiting from stable domestic demand and the resumption of exports to India since the end of November. The high gasoline spread supported aromatics. The commissioning of new polyester plants kept the polyester load at a high level, the PTA consumption remained high, and the market's inventory - stocking willingness increased, with the basis strengthening rapidly. Although domestic polyester demand weakened seasonally, the production cuts by polyester factories were not enough to form a negative feedback. [2][3]