瓶片短纤数据日报-20260310

Report Industry Investment Rating - Not provided Core Viewpoints - Crude oil is expected to strengthen significantly due to geopolitical impacts. Northeast Asian refineries are facing tight crude oil supplies and have to reduce their production loads because of the closure of the Strait of Hormuz. The speculative sentiment in the Asian PX market has rebounded, but the physical supply is tight, and PX physical goods are in short supply. Downstream replenishment is rapid, the polyester operating load is lower than expected, and the post - Spring Festival downstream start - up is average. South Korea, India, and Thailand may face significant operational difficulties, and the floating spread of PX has reached +40. The PX - naphtha spread has rebounded to $300. Tensions in the Middle East bring short - term energy price volatility risks, and the upstream price increase has begun to be transmitted downstream [2]. Summary by Relevant Catalog Price Changes - PTA spot price increased from 5865 to 7200, with a change of 1335; MEG inner - market price rose from 4267 to 4813, a change of 546; PTA closing price increased from 6070 to 6316, a change of 246; MEG closing price rose from 4377 to 4597, a change of 220; 1.4D direct - spun polyester staple fiber price increased from 7375 to 8510, a change of 1135; short - fiber basis increased from - 48 to 1071, a change of 1119; 4 - 5 spread decreased from 0 to - 2, a change of - 2; polyester staple fiber cash flow increased from 240 to 246, a change of 6; 1.4D imitation large - chemical fiber price increased from 5650 to 6215, a change of 565; the spread between 1.4D direct - spun and imitation large - chemical fiber increased from 1725 to 2295, a change of 570; East China water bottle chip price increased from 7039 to 8562, a change of 1523; hot - filled polyester bottle chip price increased from 7039 to 8562, a change of 1523; carbonated - grade polyester bottle chip price increased from 7139 to 8662, a change of 1523; outer - market water bottle chip price increased from 950 to 1050, a change of 100; bottle - chip spot processing fee increased from 595 to 794, a change of 199; T32S pure polyester yarn price increased from 11450 to 12500, a change of 1050; T32S pure polyester yarn processing fee decreased from 4075 to 3990, a change of - 85; polyester - cotton yarn 65/35 45S price increased from 17200 to 17700, a change of 500; cotton 328 price increased from 16400 to 16425, a change of 25; polyester - cotton yarn profit decreased from 1111 to 849, a change of - 262; primary three - dimensional hollow (with silicon) price increased from 7955 to 9275, a change of 1320; hollow staple fiber 6 - 15D cash flow decreased from 311 to 307, a change of - 4; primary low - melting - point staple fiber price increased from 8470 to 9400, a change of 930 [2]. Market Conditions - Short - fiber market: The main short - fiber futures rose 516 to 7864. In the spot market, due to the escalation of geopolitical tensions and strong cost support, polyester staple fiber production factories significantly and successively raised prices. Traders' prices refer to futures and factory offers, but downstream acceptance of high prices is poor, and on - site transactions are light. The price of 1.56dtex*38mm semi - gloss (1.4D) polyester staple fiber in the East China market is 7860 - 9450 cash on delivery including tax for self - pick - up, 7980 - 9570 cash on delivery including tax for delivery in the North China market, and 8500 - 9550 cash on delivery including tax for delivery in the Fujian market [2]. - Bottle - chip market: The polyester bottle - chip market price showed a wide - range upward trend. PTA and bottle - chip futures were strong and hit the daily limit. Tensions in the geopolitical situation and market concerns about raw material supplies strongly supported the market. Most suppliers suspended quotes, downstream demand was cautious, and market transactions were sporadic [2]. Operating Load and Production and Sales - Direct - spun short - fiber load (weekly) decreased from 76.98% to 84.13%, a change of - 7.15%; polyester staple fiber production and sales increased from - 28.00% to 70.00%, a change of 42.00%; polyester yarn startup rate (weekly) increased from 70.00% to 70.32%, a change of 0.32%; recycled cotton - type load index (weekly) decreased from - 0.63% to 55.44%, a change of 54.81% [3].