On July 29, Jiangsu Sanfangxiang quoted PET at 7,430 RMB/tonne, and Zhejiang Wankai quoted PET at 7,470 RMB/tonne; both prices increased compared to the previous trading day.

Regarding the spot market, the quotes of 7,430 RMB/tonne from Jiangsu Sanfangxiang and 7,470 RMB/tonne from Zhejiang Wankai represented increases over the previous trading day. A positive sentiment regarding price support in the spot market drove PET spot prices upward. On the futures front, the main PET (bottle-grade chip) contract (2609) on the Zhengzhou Commodity Exchange closed at 7,312 RMB/tonne on July 22—up 126 RMB/tonne from the prior session. With simultaneous increases in trading volume and open interest, the contract traded strongly, signaling a favorable trend for futures prices.

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