On January 29, Jiangsu Sanfangxiang quoted PET at 6,340 yuan/ton, and Zhejiang Wankai quoted PET at 6,400 yuan/ton, both down compared to the previous trading day. PriceSeek’s analysis of PET shows a bearish score of -1.5. The report indicates a decline in PET spot prices, with Jiangsu Sanfangxiang quoting 6,340 yuan/ton and Zhejiang Wankai quoting 6,400 yuan/ton, down from the previous trading day, suggesting ample market supply or weak demand, which is bearish for spot prices. Combined with PET bottle chip futures data, the main contract, such as 2603, closed at 6,344 yuan/ton, down 26 yuan, with a trading volume of 60,061 lots and open interest decreasing by 4,436 lots, indicating increased downward pressure in the futures market. The change in open interest reflects a strengthening bearish sentiment, with overall bearish influence being significant.
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