The sales of spot-futures traders sustained since the fall of PSF futures from the second half of Oct

The sales of spot-futures traders sustained since the fall of PSF futures from the second half of Oct. The cargos they held were reduced quickly, and thereby the basis got enhanced without basis appropriate for replenishment. Especially in East China, with stricter electricity restriction in Jiangsu and Zhejiang at early stage, the actual stocks in the warehouses of direct-spun PSF plants stayed at a small amount–like that of Sanfangxiang, Huahong and Huaxicun ranged in 7-15 days, so the basis there strengthened obviously. In South China, the restriction on electricity had less impacts and the actual inventory maintained at about half a month for long. Therefore, spot-futures traders put priority on selling out South China sources while turned reluctant to sell East China ones.