Though crude oil and the feedstock for polyester advanced sharply right back from the holiday

Though crude oil and the feedstock for polyester advanced sharply right back from the holiday, downstream polyester sales ratio was lackluster. It averaged 70% on Fen 7, the first trading day after the holiday, but then declined to around 20% for the rest of the week. Besides from slower recovery of end-use demand, market sentiment was cautious with participants unwilling to raise price. When would the end-use demand could recover need further observation, and it could take place as late as in end-Feb or early Mar