Group 1: Report Industry Investment Rating - The investment rating for the energy and chemical sector (specifically for bottle chips) is "Oscillating Weakly" [1] Group 2: Report's Core View - The price of bottle chips has declined, with the main contract price dropping by 48 yuan to 5664 yuan/ton, and prices in East China and South China also falling. The short - term price of bottle chips will oscillate, with the main contract reference range between 5600 - 5780 yuan/ton, and the recommended trading strategy is to wait and see [1] Group 3: Summary According to Related Catalogs Market Review - On Wednesday, the main price of bottle chips fell 48 yuan to 5664 yuan/ton. The price of East China water - grade bottle chips dropped 10 yuan to 5750 yuan/ton, and the price of South China bottle chips fell 30 yuan to 5770 yuan/ton. Long - position holdings increased by 175 lots to 58,400 lots, and short - position holdings increased by 1024 lots to 58,200 lots [1] Important Information - In terms of supply, cost, and profit, the domestic polyester bottle chip production was 341,900 tons, a week - on - week increase of 6800 tons. The average weekly capacity utilization rate of domestic polyester bottle chips was 74.8%, a week - on - week increase of 1.49%. The production cost of polyester bottle chips was 5234 yuan/ton, a week - on - week decrease of 33 yuan/ton, and the weekly production gross profit was - 119 yuan/ton, a week - on - week increase of 15 yuan/ton [1] - In September 2025, China's polyester bottle chip exports were 467,700 tons, a decrease of 53,000 tons from the previous month. The cumulative export volume in 2025 was 4.8091 million tons [1] - The market expects the end of the US government shutdown, which boosts demand expectations. Coupled with the instability of the geopolitical situation, international oil prices have risen. The NYMEX crude oil futures December contract rose 0.91 dollars/barrel to 61.04 dollars/barrel, a week - on - week increase of 1.51%. The ICE Brent crude oil futures January contract rose 1.10 dollars/barrel to 65.16 dollars/barrel, a week - on - week increase of 1.72%. The China INE crude oil futures 2601 contract fell 0.8 yuan to 461.8 yuan/ton, and rose 9.3 yuan to 471.1 yuan/ton at night [1] - The Federal Reserve cut the benchmark interest rate by 25 basis points to 3.75% - 4.00%, the second consecutive meeting to cut interest rates, which is in line with market expectations and the fifth interest rate cut since September 2024 [1] Market Logic - This week, the supply of bottle chips has changed little. Downstream factories mainly make rigid restocking, and the market is cautious about the later demand expectations. The export volume of bottle chips in September decreased month - on - month. Affected by the news of the anti - involution meeting in the chemical fiber polyester industry, the price has risen, and the market is waiting for the details of the anti - involution policy to be implemented. The fundamentals may limit the upward space [1] Trading Strategy - The recommended trading strategy is to wait and see [1]