East China PET Bottle Chip Prices Rise on January 28
East China polyester bottle grade chip closed at 6,350 RMB/mt, up 50 RMB/mt. Crude oil prices rose significantly, providing continued support for raw materials. Additionally, tight supply for some sources pushed the market center higher. For January-February delivery, offers were quoted at 6,280-6,500 RMB/mt, or at a premium of 30-60 RMB/mt over the 2603 futures contract. Bids were placed around 6,250 RMB/mt. Due to the wide bid-ask spread, market negotiations remained quiet.
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