短纤：短期反弹瓶片：短期反弹

1. Report Industry Investment Rating - Short fiber: Short-term rebound [1] - Bottle chip: Short-term rebound [1] 2. Core Viewpoints - Short fiber futures rebounded after following the decline of raw materials. Most factory quotes for short fiber spot remained unchanged, and transactions were negotiated on a case-by-case basis. The sales of direct-spun polyester staple fibers were light, with an average production and sales rate of 38% as of around 3:00 pm [1]. - Polyester bottle chip factories continued to slightly lower their export quotes. The negotiation range of mainstream bottle chip factories in East China was between 765 - 785 US dollars/ton FOB Shanghai Port, and that in South China was between 760 - 770 US dollars/ton FOB main ports, with overall discounts negotiated based on quantity [2]. 3. Summary According to Relevant Catalogs 3.1 Fundamental Tracking Short Fiber - Futures prices: Short fiber 2509 was 6250 (down 4 from the previous day), short fiber 2510 was 6348 (up 6), short fiber 2511 was 6334 (down 76) [1]. - Spread: PF09 - 10 was -98 (down 10), PF10 - 11 was 14 (up 82), PF basis was 87 (down 21) [1]. - Position and volume: The short fiber main contract's open interest was 168,093 (up 21,285), and the trading volume was 150,977 (up 20,764) [1]. - Spot price and production - sales rate: The short fiber spot price in East China was 6,435 (down 15), and the production - sales rate was 39% (down 6%) [1]. Bottle Chip - Futures prices: Bottle chip 2509 was 5694 (down 58), bottle chip 2510 was 5842 (up 16), bottle chip 2511 was 5840 (up 20) [1]. - Spread: PR09 - 10 was -148 (down 74), PR10 - 11 was 2 (down 4), PR main contract basis was -22 (up 14) [1]. - Position and volume: The bottle chip main contract's open interest was 37,165 (up 1,278), and the trading volume was 38,013 (down 64,262) [1]. - Spot price: The bottle chip spot price in East China was 5820 (up 30), and in South China was 5880 (up 20) [1]. 3.2 Spot News - Short fiber: Short fiber futures rebounded after following the decline of raw materials. Factory quotes mostly remained unchanged, and sales were light with an average production - sales rate of 38% [1]. - Bottle chip: Polyester bottle chip factories continued to slightly lower their export quotes, with different negotiation ranges in East and South China [2]. 3.3 Trend Intensity - Short fiber trend intensity: 1 [3] - Bottle chip trend intensity: 1 (only referring to the daily - session main - contract futures price fluctuations on the report day) [3]