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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
Direct-spun PSF market is in weak adjustment recently, and market sentiment is hard to be stimulated impacted by the weakening demand. Though operating rate of PSF plants lowers due to power rationing, downstream spinners is also restricted. Therefore, the fundamentals and PSF spread sees no improve
From perspective of market fundamentals, direct-spun PSF now stays in a period of quantitative change.Inventory: direct-spun PSF experienced a wave of dip buying in late Nov, reducing the inventory largely. In Dec, the inventory increased limitedly as operating rate remained only around 80% despite
In conclusion, the hot sales will not last long. Direct-spun PSF is not likely to move up continuously, which eliminates the speculative demand. Current weak downstream demand and plain export orders limit overall trading volume too. As a consequence, polyester yarn trade will return to be cool and
