Actual downstream orders rise limitedly and lack durability

In short run, price of PFY will keep rebounding stimulated by macro atmosphere and the performance of commodities, which will further improve the downstream market sentiment and drive speculative demand. However, there are still no incentives from the market fundamentals of polyester and downstream market. Actual downstream orders rise limitedly and lack durability. Price of grey fabrics meets resistance in rising. The grey fabric plants suffer losses again based on current PFY price. Once commodities prices stop rising, downstream players are estimated to retreat to sideline again, which will further drag down sales and profit of PFY market. Therefore, the rise of polyester polymerization rate may be not smooth