瓶片短纤数据日报-20260203

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core Viewpoints of the Report - The commodity market has declined significantly. PX maintains fundamental resilience during its high - level correction. Due to the geopolitical risks in Iran, there are still risks in crude oil prices. The downstream PTA industry remains strong, with China's PTA production in January expected to reach a new high, and there are no plans for Spring Festival production cuts. With no new PTA production capacity throughout the year, existing facilities will operate at full capacity to meet the growing polyester demand, providing a solid demand foundation for PX. The PX supply remains tight, with the South Korean TDP plant increasing its load and a Middle - Eastern PX plant scheduled to shut down before February, resulting in limited global effective production capacity release. The PX - mixed xylene toluene spread remains around $150. In terms of the profit structure, although the PX - naphtha spread has fallen to $335/ton, it remains at a healthy level. China's PTA maintains high - level operation, domestic demand has declined, and the production cuts by polyester factories have a limited negative impact on PTA. Bottle chip profits are expanding, while staple fiber profits are declining [2] Group 3: Summary by Related Indicators Price and Price Change - PTA spot prices dropped from 5280 to 5095, a decrease of 185; MEG domestic prices fell from 3835 to 3722, a decrease of 113; PTA closing prices decreased by 178 from 5270 to 5092; MEG closing prices dropped by 146 from 3913 to 3767; 1.4D direct - spun polyester staple fiber prices decreased by 140 from 6685 to 6545; short - fiber basis decreased by 5 from 23 to 18; the 3 - 4 spread increased by 28 from - 56 to - 28; polyester staple fiber cash flow increased by 6 from 240 to 246; the price of 1.4D imitation large - chemical fiber remained unchanged at 5300; the price difference between 1.4D direct - spun and imitation large - chemical fiber decreased by 140 from 1385 to 1245; East China water bottle chip prices decreased by 126 from 6309 to 6183; hot - filled polyester bottle chip prices decreased by 126 from 6308 to 6183; carbonated - grade polyester bottle chip prices decreased by 126 from 6409 to 6283; foreign - market water bottle chip prices decreased by 15 from 845 to 830; bottle chip spot processing fees increased by 70 from 510 to 580; T32S pure polyester yarn prices remained unchanged at 10720; T32S pure polyester yarn processing fees increased by 140 from 4035 to 4175; polyester - cotton yarn 65/35 45S prices remained unchanged at 16800; cotton 328 prices decreased by 125 from 15695 to 15570; polyester - cotton yarn profits increased by 140 from 1435 to 1575; the price of primary three - dimensional hollow (with silicon) remained unchanged at 7300; the cash flow of hollow staple fiber 6 - 15D increased by 196 from 301 to 497; the price of primary low - melting - point staple fiber remained unchanged at 7895 [2] Market Conditions - Short - fiber: The main short - fiber futures dropped 240 to 6484. In the spot market, the prices of polyester staple fiber production plants were stable with a slight decline, and traders' prices followed the futures price decline. Downstream buyers replenished stocks at low prices, but there was not much trading volume. The price of 1.56dtex*38mm semi - bright (1.4D) polyester staple fiber was 6410 - 6690 in the East China market (cash on delivery, tax - included, self - pick - up), 6530 - 6810 in the North China market (cash on delivery, tax - included, delivered), and 6550 - 6750 in the Fujian market (cash on delivery, tax - included, delivered) - Bottle chip: The mainstream negotiation price of polyester bottle chips in the Jiangsu and Zhejiang markets was 6200 - 6350 yuan/ton, with the average price dropping 75 yuan/ton compared to the previous working day. The PTA and bottle chip futures prices fluctuated weakly, the cost - side support weakened, most supply - side quotes were lowered, the market spot supply was tight, and downstream end - user demand was mainly for rigid needs, causing the market negotiation center to shift down [2] Operating Rate and Production and Sales - The direct - spun staple fiber load (weekly) decreased by 2.07% from 88.84% to 86.77% - Polyester staple fiber production and sales decreased by 21% from 65% to 44% - The polyester yarn startup rate (weekly) increased by 0.32% from 70% to 70.32% - The recycled cotton - type load index (weekly) decreased by 0.63% from 54.81% to 55.44% [3]