On October 10, according SunSirs, PET prices in Sanfangxiang, Jiangsu were 5,710 RMB/ton, while PET prices in Wankai, Zhejiang were 5830 RMB/ton, both of which were lower than the previous trading day.

The spot price of PET fell compared to the previous trading day, with Jiangsu Sanfangxiang reporting 5,710 RMB/ton and Zhejiang Wankai reporting 5,830 RMB/ton, indicating that there may be oversupply or weak demand in the market, forming a general negative impact. The price decline reflects an increase in short-term supply or a decrease in downstream procurement, exerting downward pressure on the spot market.

As an upstream raw material futures variety for polyester chips (PET), the decline in PET prices indicates a weakening of downstream demand, which may lead to a decrease in PTA demand and an increase in inventory pressure, posing a general negative impact on PTA futures prices. This impact is based on PET market signals and may amplify negative sentiment towards PTA futures.

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