Weekly Report: PSF (Nov.7-Nov,11)
This week, PSF price followed the previously declining tendency due to the weak tendency of downstream market. Sinopec adjusted their quotations of November contracts twice with one week. Among all the products, 1.4D semi-dull PSF is quoted 11500 Yuan/ton, which greatly lost 1500 Yuan/ton compared with previous quotations. Judged from the
In Upstream feedstocks market, international crude oil market showed increasing tendency. Ended by the close on 10th, December futures of
Judged from the present PSF market, as the feedstocks price is in fluctuation and PTA futures broke 8000 Yuan, the supportive effect for the PSF market turned weak. Besides, the weak tendency in the downstream market also restricted the cover intention of downstream yarn manufacturers. Therefore, PSF market is predicted to be weak and decline in a short term.