On December 10th, Hainan Yisheng PET quoted 5,760 RMB/ton, and Dalian Yisheng quoted 5,730 RMB/ton, both lower than the previous trading day.

Excess supply or weak demand in the spot market puts downward pressure on prices. Based on the data of bottle futures, such as the closing price of contract 2601 at 5,576 RMB/ton (down 32 RMB/ton) and contract 2602 at 5,692 RMB/ton (down 36 RMB/ton), the recent contract prices have generally fallen, and changes in trading volume and position reflect the market's bearish sentiment. The futures trend is consistent with the spot market, strengthening the bearish forecast.

On December 10th, PET prices in Sanfangxiang, Jiangsu were reported at 5,660 RMB/ton, while PET prices in Wankai, Zhejiang were reported at 5,690 RMB/ton, a decrease from the previous trading day.

This indicates that there is sufficient supply or weak demand in the spot market, which puts negative pressure on the spot price of bottle chips. Based on the market trend of bottle chip futures, the settlement price of the main contract 2602 yesterday was 5,692 RMB/ton, a decrease of 36 RMB/ton. The change in holding volume indicates a bearish sentiment in the market; The decline in spot prices today may strengthen bearish expectations for futures, leading to downward pressure on futures prices.

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