On February 26th, PET prices in Sanfangxiang, Jiangsu were reported at 6,300 RMB/ton, while PET prices in Wankai, Zhejiang were reported at 6,360 RMB/ton, a decrease from the previous trading day.

The article shows that the spot price of PET has fallen (reported at 6,300 RMB/ton in Sanfangxiang, Jiangsu and 6,360 RMB/ton in Wankai, Zhejiang), indicating that weak downstream demand or oversupply has led to short-term market pressure, which is negative for spot prices. Although there has been a slight increase in recent contracts such as 2612 (closing price of 6,388 RMB/ton, up 62 RMB) and 2701 (closing price of 6,388 RMB/ton, up 36 RMB) for bottle chip futures (corresponding to PET), the weakness of spot prices may suppress the potential for futures to continue rising, increase the risk of pullback, and have an overall bearish impact.

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