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As the epidemic gets controlled gradually, the plants restart successively, including HC virgin PSF plants of which the operating rate has improved since last week. However, downstream operating rate stays bearish, only about 20%. Previously, solid virgin PSF plants transferred the inventory rapidly
In 2018, the import ban of re-PET resulted in the rise of the cost and deprived the competition advantage of re-PSF, while in 2019, the falling polyester feedstock created cost edge for virgin PSF. In 2018, some re-PSF plants mixed virgin chips without losses when producing, but in 2019, as the poly
Virgin PSF has been constantly weak since late July, to around 7,000yuan/mt at present, which is close to the quality close virgin PSF or even be lower than the latter one.Downstream spinning mills witness high product inventory. Close virgin PSF plants have suspended operation or cut production gra
Orders of virgin PSF and re-PSF were placed in advance due to the decline of VAT rate in Apr and were concentrated on Mar. Later on, as end-user demand turned soft and the orders were overdrawn, PSF price stepped downward and then the decrease quickened as China-US trade dispute escalated. From the
