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The sales of spot-futures traders sustained since the fall of PSF futures from the second half of Oct. The cargos they held were reduced quickly, and thereby the basis got enhanced without basis appropriate for replenishment. Especially in East China, with stricter electricity restriction in Jiangsu
But with the spread between spot and futures PP kept widening, downstream felt difficult to follow up. When prices jumped up, sales weakened. Stock piled up gradually and orders were thin, forcing some plants to shut temporarily. And some major plants suffered tight capital flow as their stock was h
