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PSF has moved all the way down since mid-Jun amid the decline of crude oil and recession of demand, with PSF futures dropping from above 9,000yuan/mt to below 7,000yuan/mt with a decrease of 2,400yuan/mt and spot PSF sliding less by 1,400yuan/mt due to low inventory. Thus, the gap between spot PSF a
After great production reduction in Apr-May and the surge in early Jun, physical PSF stocks in PSF plants were at a small amount. Thus, though the market faltered in Jun and basis trade showed evident price advantage, the spot-futures traders could not deliver spot goods and raised their prices, whi
In mid-Dec, PSF and polyester yarn stopped falling and stabilized. As crude oil strengthened and PTA run rate declined, they showed uptrend, and then speculative demand appeared. At first, export orders were placed intensively. Most spinners with export business in Fujian, Jiangsu and Zhejiang recei
Affected by China-US trade war, direct-spun PSF price retreats again after the slight rebound last week and moves close to year’s low.Market players speculate that direct-spun PSF price may break through 7,000yuan/mt and record year’s low.
