Weekly Report: PSF (Oct.24-Oct.28)

Due to the surged crude oil prices in the upstream market and increased PTA futures, the Polyester Staple Fiber market was mainly stiff and consolidating this week. However, the downstream buyers' cautious purchasing attitude led the overall trading atmosphere be weak in the market and the PSF prices slightly decreased this Friday. 

This week, Sinopec announced its October settlement prices; among which, 1.4D semi-dull PSF was settled 13000 Yuan/ton and 1.2D bright PSF was settled 13800 Yuan/ton by both Yizheng and Jinshan.

In East China, PSF price was adjusting this week.  Supported by cost effect from the upstream market, the quotations stopped dropping and turned stable. Among which, 1.4D*38mm direct spinning PSF decreased to 12300-12400 Yuan/ton. 

Also in this week, quotation focus fell down and showed weak tendency in South China. 1.4D*38mm direct spinning PSF quoted around 12400-12500 Yuan/ton by cash and with delivery. This price slightly lost 200 Yuan/ton compared with last weekend. 

For the downstream yarn market, the 100% polyester yarn still showed weak tendency. Some of the products’ quotation fell down and the general trading atmosphere was pessimistic.  At present, 32S 100% polyester yarn decreased to 16400 Yuan/ton; 45S 100% polyester yarn is around 17400 Yuan/ton. Generally speaking, the downstream yarn manufacturers all face high inventories and tight financial problems, the operating pressure is great. Therefore, the 100% polyester yarn market is predicted to be weak and declining

Price Tendency of 1.4D*38mm Direct Spinning PSF