On January 28th, PET prices in Sanfangxiang, Jiangsu were reported at 6,380 RMB/ton, while PET prices in Wankai, Zhejiang were reported at 6,420 RMB/ton, a decrease from the previous trading day.

On January 28th, the spot price of PET fell, with Jiangsu Sanfangxiang quoting 6,380 RMB/ton and Zhejiang Wankai quoting 6,420 RMB/ton, a decrease from the previous trading day. This indicates that there is sufficient market supply or weakened demand, which is bearish on spot prices. Based on the data of bottle futures, the main contracts such as 2603 have a settlement price of 6,312 RMB/ton (down 112 RMB) and 2604 have a settlement price of 6,322 RMB/ton (down 110 RMB), indicating that the futures market is in a downward trend. Further decline in spot prices may strengthen bearish sentiment in the futures market, leading to downward pressure on futures contracts, particularly affecting liquidity in recent months.

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