The fluctuation of direct-spun PSF is mainly attributed to the costs

The fluctuation of direct-spun PSF is mainly attributed to the costs. The prices of direct-spun PSF plants are hit heavily by the participation of spot-futures traders in trades in addition to excessive supply against demand and occupation of re-PSF. For example, spot prices of direct-spun PSF are now offered by the plants at 7,800-7,900yuan/mt, higher at 8,000yuan/mt, but the basis for Jan’22 contracts sources of a large plant is at minus 180yuan/mt (basis=spot price-futures price), thus the purchasing price will reach as low as 7,650yuan/mt by this way. By contrast, direct-spun PSF plants have to adjust down prices along with costs.