Volatile crude oil and polyester feedstock force market participants to the sidelines

During Spring Festival holiday, crude oil surged, so direct-spun PSF plants successively adjusted up their prices when the holiday finished. However, there were no buyers as downstream plants were still in suspension. Subsequently, the changeable situation of Russia and Ukraine dragged down crude oil, as well as polyester feedstock and direct-spun PSF. Facing the volatility, downstream plants focused on consuming pre-holiday raw materials stocks. Those having limited stocks just purchased based on their immediate demand