聚酯数据日报-20260324

Group 1: Report Industry Investment Rating - No relevant information provided Group 2: Core View of the Report - The Asian PTA market is affected by the dual impacts of sharp fluctuations in crude oil and tightening PX supply. The price increase of naphtha is much higher than that of PX, and the profit is significantly compressed. The supply - side risks have significantly increased, and the polyester industry may face production decline risks due to shortages of PX and MEG. The market is in a state of chaos with downstream resistance to high prices [2] - The MEG market is also affected by the tense Middle - East situation. Northeast Asian refineries face crude oil supply shortages, leading to large - scale production cuts and shutdowns of naphtha cracking units. The domestic MEG price has risen due to reduced raw materials and overseas price increases [2] Group 3: Summary by Directory 1. Market Data - Crude Oil: INE crude oil price increased from 773.6 yuan/barrel on March 20, 2026, to 834.6 yuan/barrel on March 23, 2026, with a change of 61 yuan/barrel [2] - PTA: PTA - SC increased from 1028.2 yuan/ton to 1068.9 yuan/ton; PTA/SC decreased from 1.1829 to 1.1762; PTA主力期价 rose from 6650 yuan/ton to 7134 yuan/ton; PTA现货价格 increased to 7005 yuan/ton; 现货加工费 increased from 184 yuan/ton to 273.6 yuan/ton; 盘面加工费 increased from 299 yuan/ton to 347.6 yuan/ton; 主力基差 changed from - 74 to - 73; PTA仓单数量 increased from 143452 to 146188 [2] - PX: CFR中国PX increased from 1221 to 1302; PX - 石脑油价差 increased from 81 to 162 [2] - MEG: MEG主力期价 increased from 5353 yuan/ton to 5574 yuan/ton; MEG - 石脑油 changed from - 425.81 yuan/ton to - 426 yuan/ton; MEG内盘 increased from 5108 to 5478; 主力基差 changed from - 80 to - 50 [2] 2. Industry Chain Start - up Situation - PX开工率: Remained at 80.34% [2] - PTA开工率: Increased from 76.69% to 79.51% [2] - MEG开工率: Decreased from 52.16% to 51.87% [2] - 聚酯负荷: Decreased from 85.83% to 85.44% [2] 3. Product Price and Cash - Flow - 涤纶长丝: POY150D/48F decreased from 9105 to 9040; POY现金流 decreased from 539 to - 34; FDY150D/96F decreased from 9445 to 9265; FDY现金流 decreased from 379 to - 309; DTY150D/48F decreased from 10580 to 10455; DTY现金流 decreased from 814 to 181; 长丝产销 increased from 12% to 54% [2] - 涤纶短纤: 1.4D直纺涤短 increased from 8300 to 8505; 涤短现金流 decreased from 84 to - 219; 短纤产销 increased from 59% to 61% [2] - 聚酯切片: 半光切片 increased from 7320 to 7700; 切片现金流 decreased from - 346 to - 474; 切片产销 increased from 37% to 40% [2] 4. Device Maintenance - An East - China 2.5 - million - ton PTA device that was shut down for maintenance around February 10 has returned to normal. An East - China 3.6 - million - ton PTA device that was operating at 50% capacity has returned to normal. A South - China 1.25 - million - ton PTA device that was under maintenance in mid - January has returned to normal [2]