Some plants are scheduled to shut for maintenance in July. For example, Shaanxi Yanchang plans to shut for maintenance since mid Jul for around one-and-a-half-month, and Zhongan Lianhe plans to shut for maintenance in late Jul for around 45days. But the actual implementation of maintenance still nee Read More

Recently, more and more plants shut for maintenance, some shut on schedule, and some shut accidentally. The overall operating rate of PP once again dropped to a low level, currently close to 80%, and it is not difficult to find that it is already a low point of the year. Meanwhile, the overall opera Read More

Leading VFY companies like Jilin Chemical Fiber and Xinxiang Chemical Fiber generally lowered operating rates in the first half of 2022 due to the COVID-19 epidemic and Winter Olympics, but the operation had resumed in the second quarter and selling pressure was alleviated owing to destocking. In th Read More

As for downstream demand, VFY market was gradually closed for Chinese Lunar New Year holiday in Jan and downstream plants gradually suspended operation after building up stocks, which had not resumed until mid-Feb. However, the new wave of COVID-19 infections in some regions of China affected the pr Read More

VFY price of China kept rising in the first half of 2022, which was mainly driven by higher cost and orders, especially demand from export market. The inventory declined apparently when the supply was reducing, which further triggered the intention of price rise by VFY companies. At the same time, p Read More

During the production curtailment of PSF plants, the stocks of traders were squeezed. Starting about Jun, spot-futures traders accomplished much less orders as PSF plants failed to provide sources. In the meantime, PSF plants dominated more in pricing. The price gap between spot PSF and PSF futures Read More