On February 2, Hainan Yisheng reported a PET price of 6,240 yuan/ton, and Dalian Yisheng quoted the same price of 6,240 yuan/ton, both showing a decrease compared to the previous trading day. PriceSeek's analysis of PET gives a long-short score of -1. The article indicates that both Hainan Yisheng and Dalian Yisheng's PET quotations are at 6,240 yuan/ton, lower than the previous trading day, suggesting ample supply in the spot market or weak demand, which puts downward pressure on prices. This generally exerts a bearish influence on PET spot prices, possibly reflecting inventory accumulation in the industry or reduced purchasing willingness downstream. In the short term, prices may continue to show weakness.
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