Pioneer Futures: Costs weaken, spot trading turns light, bottle chip futures prices shift downward.

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On the supply side, domestic bottle chip operating rate fell 0.8 percentage points week-on-week last week, and the average inventory of bottle chip plants continued to increase slightly to a level slightly below 10 days. Later, attention should be paid to the restart of units such as Anhua and Hanjiang, as well as the progress of new unit commissioning such as Tiansheng Phase 2, Kesen, and Fuhai Phase 2.
On the demand side, as PET bottle chip prices continue to decline, downstream restocking actions have gradually increased, and the processing margin has slightly recovered. On the export side, shipments have been slow recently. Bottle chip export prices continue to decline, the market sentiment is cautious, and shipping delays are common.
Overall, spot bottle chip trading has weakened, inventories continue to increase, coupled with weakening costs. It is expected that bottle chip futures prices will fluctuate and adjust in the short term. Pay attention to raw material price trends and inventory changes. (Capital Futures)
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