stocks of PFY are transferred to downstream market

In terms of price, when stocks of PFY are transferred to downstream market and the inventory burden is mitigated periodically, the profit of PFY is expected to improve and price of PFY may follow the uptrend on feedstock market. The feedstock market is anticipated to curve a similar trend as crude oil. The inventory of PFY keeps high and the quality of PFY stocks is worrying amid heat weather. Therefore, PFY producers will focus on selling and the increment of PFY will be restricted. In medium run, although the inventory of PFY plants has been mitigated, if downstream plants’ operating rate fails to rise effectively. PFY producers will encounter inventory burden again. In addition, PX market is likely to see mounting stocks from destocking later and the stocks of PTA may accumulate.