聚酯数据日报-20260115

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Report's Core View - PTA market experiences a tug - of - war between cost support and falling demand, with a slight price increase; PX market is at a critical juncture where speculative sentiment intersects with fundamental tension; MEG price is under supply pressure, but may be supported by policies [2] Group 3: Summary by Related Catalogs 1. Market Data Comparison - INE crude oil price dropped from 445.6 yuan/barrel on January 13th to 445.5 yuan/barrel on January 14th [2] - PTA - SC decreased from 1901.8 yuan/ton to 1878.5 yuan/ton, and PTA/SC ratio dropped from 1.5873 to 1.5802 [2] - CFR China PX decreased from 899 to 897, and PX - naphtha spread decreased from 341 to 336 [2] - PTA main futures price decreased from 5140 yuan/ton to 5116 yuan/ton, while the spot price increased from 5060 to 5075 yuan/ton [2] - PTA spot processing fee increased from 302.1 yuan/ton to 311.5 yuan/ton, and the disk processing fee decreased from 382.1 to 367.5 yuan/ton [2] - MEG main futures price increased from 3815 yuan/ton to 3867 yuan/ton; the domestic price increased from 3686 to 3711 yuan/ton [2] 2. Industry Chain Start - up Situation - PX start - up rate remained at 87.87%, PTA start - up rate at 77.40%, MEG start - up rate increased slightly from 61.12% to 61.15%, and polyester load remained at 87.80% [2] 3. Product Price and Cash - Flow Changes - POY150D/48F price increased from 6650 to 6715, and its cash - flow improved from - 161 to - 117 [2] - FDY150D/96F price increased from 6870 to 6920, and its cash - flow improved from - 441 to - 412 [2] - DTY150D/48F price increased from 7795 to 7830, and its cash - flow improved from - 216 to - 202 [2] - 1.4D direct - spun polyester staple fiber price decreased from 6520 to 6510, and its cash - flow decreased from 59 to 28 [2] - Semi - bright chip price decreased from 5780 to 5770, and its cash - flow decreased from - 131 to - 162 [2] 4. Product Sales Situation - Long - filament sales remained at 46%, short - fiber sales decreased from 93% to 68%, and chip sales increased from 50% to 79% [2] 5. Device Maintenance Dynamics - Sanfangxiang's 500,000 - ton device is restarting, and a 750,000 - ton device is under maintenance; some devices of Xinjiang Yipu, Jinyu, Tiansheng, and Guxiandao are either under maintenance or have reduced loads [2]