PSF fluctuated back again on Tuesday and Wednesday

PSF fluctuated back again on Tuesday and Wednesday, weakening downstream buying interest. The sales of polyester yarn fell back and the cash flow moved to minus 300yuan/mt. Dragged by the poor demand, the improvement of sales could not last and even the losses are hard to be alleviated. After last Saturday’s meeting, polyester yarn mills did not lower run rate immediately and still produced according to their own tempo. On the one hand, the stabilization of raw materials was favorable to the sales of polyester yarn. On the other hand, with Aug coming, the demand is expected to improve marginally. According to CCFGroup, the largest production cut has passed and the operating rate in Jul is predicted at 48% at the lowest