Demand for PSF and PFY is mainly from textiles and apparels market

Demand for PSF and PFY is mainly from textiles and apparels market, including domestic sales and export. By convention, textiles and apparels market will largely rely on export in the first half of year and depend on domestic sales in the second half of year. Export of textiles and apparels may better than domestic sales in 2022, which will be supportive to the demand for fibers in the first half of 2022. PSF and PFY companies are estimated to run at high capacity in the first quarter of 2022 but their run rate is estimated to be revised down from last estimate due to post-holiday inventory burden.