the main reason for the rise is the higher oil prices during the Spring Festival holiday

Actually, the main reason for the rise is the higher oil prices during the Spring Festival holiday, leading to the higher costs of PSF. According to CCFGroup, the polymerization costs are 6,743yuan/mt on Feb 8, up 265yuan/mt from 6,478yuan/mt on Jan 30, and up 571yuan/mt from 6,172yuan/mt on Jan 8.