direct-spun PSF performance is eye-catching with profits

Take a review of two periods of high PSF spread. One is during Jun-Aug, after long period of plant shutdown, another is the period since Oct, after product cut during Aug-Sep. Normally, the process of “production cut-tight spot supply-profit improved” is closely linked, and the product cut has good stimulus for PSF spread. But the improvement of PSF spread is always delayed after product cut. The route reason is the volumes of cargos held by spot-futures traders drag down the market prices, so producers cannot sell at high level. In addition, the delayed time largely depends on the volumes of cargos held by traders. It can be obviously seen during Mar-Aug, 2021. During the half of the year, PSF plants had low discursive power to market prices. PSF spread kept low and sales sustained bleak. Till the volumes of cargos held by traders were sold out, the discursive power for PSF plants returned. After that, plants draw a lesson and are cautious to sell products to spot-futures traders. The good PSF spread is closely linked with the discursive power of PSF plants currently.