Crude oil and polyester raw materials plummeted in a single day, with the PET market dropping by 320 points.

The US and Iran reached an agreement, quickly clearing the geopolitical premium. Crude oil and polyester raw materials plummeted during the day, with the spot price of PET dropping by 320 yuan today. While the cost support for PET collapsed, expectations of increased supply and limited demand follow-up led to a greater decline in the PET market today compared to the raw material end. From a comprehensive perspective, with insufficient cost support and poor performance in PET's fundamental factors, the PET market may operate weakly in the short term. The actual trend still needs to be monitored for changes in external news, equipment modifications, and actual demand.