Close virgin PSF market change

Affected by sluggish HC re-PSF market, a few big plants in Hebei turn to produce from HC re-PSF to solid re-PSF. The product in North Jiangsu is hard to be sold to North China, and losses are seen. In addition, the downstream demand in South China is weak, so plants cut production or suspend operation. In Jiangyin of Jiangsu, feedstock and product transportation is blocked affected by the strict control on logistics, and some plants curtail production. In Wujiang of Jiangsu, a few plants have cut operating rate, and inventory in some plants is around 20 days.

Recently, close virgin PSF offers stay flat mostly, and trading prices are mixed. Price spread between North China and South China narrows, and prices have no big difference for medium-grade re-PSF, close virgin PSF and HTLS close virgin PSF.

In general, more recycled plants cut operating rate or suspend operation, and some plants plan to curtail production or shut down in late Apr and early May