the price spread between virgin PSF and re-PSF was normal

Before 2018, the price spread between virgin PSF and re-PSF was normal, and the obvious substitution of virgin PSF for re-PSF appeared apparently in 2020. In 2021, some market shares of re-PSF recovered. Currently, the substitution between HC virgin PSF and HC re-PSF is relatively easy, based on their price spread and demand. With weak demand at present, even the price spread is 1,000-1,500yuan/mt, it is hard to see substitution. But if the demand is good in buoyant season, substitution will appear even the price spread is below 1,000yuan/mt. For solid PSF, the factors influence the substitution also include downstream demand, continuity of orders, continuity of price spread, low-priced feedstock consumption, profits of yarn mills, available supply of virgin and recycled PSF.