Weekly Report: PSF (Nov.14- Nov.18)

This week, PSF price followed the previously tendency. Sinopec announced their quotations of direct spinning PSF. Among all the products, 1.4D semi-dull PSF is quoted 11200 Yuan/ton, which greatly lost 500 Yuan/ton compared with previous quotations. Judged from the East China market, 1.4D direct spinning PSF stayed at 10800-10900 Yuan/ton, decreased 200 Yuan/ton compared with last weekend, down 1.80%. As for the South China market, quotations also went down. At present, 1.4D PSF is quoted 10900-11000 Yuan/ton, down 200 Yuan/ton and the decreased rate was 1.79%.

Judged from the present PSF market, due to the unsteady crude oil price is and stiff PTA futures, the supportive effect for the PSF market turned weak. Besides, the weak tendency in the downstream market also restricted the consumption of downstream yarn manufacturers. Therefore, PSF market is predicted to be weak and decline in a short term.