供给收缩、原料价格下跌，涤纶长丝价差环比修复。供给端，据百川资讯数据，本周涤纶长丝行业总产量38.61 万吨，环比上周减少7.29%。需求端，据百川资讯数据，本周江浙地区化纤织造综合开机率19%，环比上周下滑12 pcts。原料端，本周PTA（华东）环比上周下跌240元/吨、乙二醇（华东）环比上周下跌18 元/吨。供给端及原料端双重作用下，POY 价格环比上周上涨100 元/吨至7450 元/吨，DTY 价格环比上周上涨150 元/吨至8700 元/吨，FDY 价格环比上周上涨120 元/吨至8200 元/吨；POY 与原料价差较上周扩大313 元/吨至1542 元/吨，DTY 与原料价差环比上周扩大363 元/吨至2792 元/吨，FDY 与原料价差环比上周扩大333 元/吨至2292 元/吨。综合来看，当前中长期纺服需求预期修复，后续行业有望从前期承压状态逐步回暖，龙头企业有望充分受益。建议关注涤纶长丝行业龙头：新凤鸣、桐昆股份；有望同样受益于纺服需求复苏的氨纶行业领军企业：华峰化学。

涤纶长丝库存消化。需求端，国内疫情解控，支撑长丝原料消耗需求。供给端，临近年末，市场开工率触及低点。供需偏紧下，市场库存降至低位。根据百川资讯数据，截止1 月6 日，长丝行业周度库存517 万吨，较2022 年12 月库存高点-16%，涤纶长丝POY/FDY/DTY 价格为7300/8025/8650 元/ 吨， 分别较2022 年11 月价格低点+8.96%/+7.36%/+9.84%。

Equipment Type: Asphalt mineral-surfaced roll roofing and cap sheets, fiberglass base Industry: Asphalt shingle and coating materials manufacturing

Equipment Type: Building and construction reinforced and fiberglass plastics products, excluding piping Industry: Other plastics product manufacturing

Equipment Type: Coextruded bags, pouches, and liners, for medical uses Industry: Plastics packaging materials and unlaminated film and sheet manufacturing

Equipment Type: Nylon single-web film, rolls, and sheets for flexible packaging uses Industry: Plastics packaging materials and unlaminated film and sheet manufacturing

Equipment Type: Transportation polystyrene foam products (including seating, dash, and other interiorexterior components) Industry: Polystyrene foam product manufacturing

Equipment Type: Saturated asphalt and tar building ply felts, organic base Industry: Asphalt shingle and coating materials manufacturing

Equipment Type: Saturated asphalt and tar building ply felts, fiberglass base Industry: Asphalt shingle and coating materials manufacturing

Equipment Type: Rubber shoe soling slabs and top lift sheets Industry: Other rubber product manufacturing