瓶片短纤数据日报-20260211

Report Summary 1. Report Industry Investment Rating - No information provided regarding the industry investment rating. 2. Core Viewpoints of the Report - The sentiment in the commodity market has declined. PX maintains fundamental resilience during its high - level correction, and there are still risks in crude oil prices due to the geopolitical risks in Iran [2]. - The downstream PTA industry remains strong. China's PTA production in January is expected to reach a new high, with no production cut plans for the Spring Festival. There are no new PTA production capacities throughout the year, and existing facilities will operate at full capacity to meet the growing polyester demand, providing a solid demand base for PX [2]. - The PX supply side remains tight. The South Korean TDP plant has increased its load, and a PX plant in the Middle East is scheduled to shut down before February, resulting in limited global effective capacity release [2]. - The PX - mixed xylene spread remains around $150. Although the PX - naphtha spread has fallen to $335 per ton, it is still at a healthy level. Domestic PTA maintains high - level operation, domestic demand has declined, and the production cuts of polyester factories have a limited negative impact on PTA [2]. - Bottle chip profits are expanding, while short - fiber profits are declining [2][3]. 3. Summary by Related Indicators Price Changes - PTA spot price increased from 5115 to 5140, a change of 25; PTA closing price rose from 5192 to 5230, an increase of 38 [2]. - MEG domestic price decreased from 3635 to 3623, a change of - 12; MEG closing price dropped from 3739 to 3733, a decrease of 6 [2]. - 1.4D direct - spun polyester staple fiber price increased from 6575 to 6585, a change of 10 [2]. - Short - fiber basis increased from 41 to 52, an increase of 11 [2]. - 3 - 4 spread increased from - 80 to - 74, a change of 6 [2]. - Polyester staple fiber cash flow increased from 240 to 246, an increase of 6 [2]. - 1.4D direct - spun and imitation large - chemical spread increased from 1275 to 1285, a change of 10 [2]. - East China water bottle chip price increased from 6233 to 6270, a change of 37; hot - filled polyester bottle chip price rose from 6233 to 6270, an increase of 37; carbonated - grade polyester bottle chip price increased from 6333 to 6370, a change of 37 [2]. - Outer - market water bottle chip price increased from 835 to 840, a change of 5 [2]. - Bottle chip spot processing fee increased from 642 to 662, an increase of 20 [2]. - T32S pure polyester yarn price remained unchanged at 10700; T32S pure polyester yarn processing fee decreased from 4125 to 4115, a change of - 10 [2]. - Polyester - cotton yarn 65/35 45S price remained unchanged at 16800; polyester - cotton yarn profit decreased from 1533 to 1496, a change of - 37 [2]. - Cotton 328 price increased from 15630 to 15710, an increase of 80 [2]. - Primary three - dimensional hollow (silicon - containing) price remained unchanged at 7290; hollow staple fiber 6 - 15D cash flow decreased from 499 to 482, a change of - 17 [2]. - Primary low - melting - point staple fiber price remained unchanged at 7895 [2]. Market Conditions - Short - fiber: The main short - fiber futures rose 44 to 6626. In the spot market, polyester staple fiber production factories mainly negotiated prices, and trader prices increased slightly. Downstream demand was weak, and on - site transactions were scarce [2]. - Bottle chip: The mainstream negotiation price of polyester bottle chips in the Jiangsu and Zhejiang markets was 6250 - 6350 yuan/ton, with the average price rising 15 yuan/ton compared to the previous working day. PTA and bottle chip futures prices were running warmly. The supply side's quotations were stable with a slight increase, the market's spot supply was tight, and downstream end - user demand only maintained just - in - time replenishment. The market negotiation center shifted slightly upward [2]. Operating Rates and Sales Ratios - Direct - spun short - fiber load (weekly) increased from 86.77% to 88.84%, a change of 2.07% [3]. - Polyester staple fiber sales ratio decreased from 38.00% to 31.00%, a change of - 7.00% [3]. - Polyester yarn startup rate (weekly) increased from 70.00% to 70.32%, a change of 0.32% [3]. - Recycled cotton - type load index (weekly) decreased from 55.44% to 54.81%, a change of - 0.63% [3].