短纤：关税预期缓和但仍有变数，低位震荡瓶片：关税预期缓和但仍有变数，低位震荡瓶片

Group 1: Report Industry Investment Rating - No relevant content Group 2: Core Viewpoints of the Report - Short - fiber and bottle - chip industries are expected to see a relaxation in tariff expectations, but there are still uncertainties, and they are in a low - level oscillation [1] Group 3: Summary by Related Catalogs Fundamental Tracking Short - fiber - The prices of short - fiber futures contracts 2511, 2512, and 2601 decreased by 92, 70, and 70 respectively compared to the previous day. PF11 - 12 decreased by 22, PF12 - 01 remained unchanged, and the PF main contract basis increased by 65. The main contract's open interest decreased by 2246, the trading volume decreased by 23204, the East China spot price decreased by 5, and the production - sales ratio decreased by 34% to 32% [1] Bottle - chip - The prices of bottle - chip futures contracts 2511, 2512, and 2601 decreased by 62, 80, and 78 respectively compared to the previous day. PR11 - 12 increased by 18, PR12 - 01 decreased by 2, and the PR main contract basis increased by 30. The main contract's open interest increased by 11245, the trading volume increased by 29431, the East China spot price decreased by 50, and the South China spot price decreased by 55 [1] Spot News Short - fiber - The decline in the short - fiber futures market was less than expected. In the spot market, the quotation in Fujian area was lowered by 50, most prices in Jiangsu and Zhejiang were stable, and a few higher prices were lowered by 50. Traders' sales were mostly stable, and transactions were smooth. As of 3:00 p.m., the average production - sales ratio of direct - spinning polyester staple fiber factories was 59% [1] Bottle - chip - The upstream raw material futures prices fell slightly. Some polyester bottle - chip factories lowered their quotes by 20 - 100 yuan. The trading atmosphere in the polyester bottle - chip market was fair. Orders from October to December were mostly traded at 5640 - 5750 yuan/ton ex - factory, with a slightly lower price around 5610 yuan/ton ex - factory, and prices varied slightly by brand [2] Trend Intensity - The trend intensity of short - fiber and bottle - chip is - 1, indicating a bearish view on the day - session main contract futures price fluctuations on the report day [2]