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Market review of recycled market in 2020

2021-01-06 08:40:21 CCFGroup

Time	Monthly key notes
Jan	Oil prices surged after the news that Qasem Soleimani, the Iranian commander, was killed by a US air strike at Baghdad airport on Jan 3. Recycled market was mainly in consolidation, and most plants set off for holiday during Jan 5 and Jan 15.
Fev	Affected by the outbreak of coronavirus pandemic, market concerned about the late demand. Polyester product prices stepped lower, and recycled plants experienced the longest holiday in history.
Mar	Crude oil prices slumped, and shuffle and upgrading of recycled market accelerated. PSF market appeared paper contracts.
Apr	Under the pandemic, anti-coronavirus product supply was tight, and the hot non-woven market drove a serious of alternative products. Some solid re-PSF plants turned to produce non-woven market. Polyester product costs continued to collapse and recycled chemical fiber prices were higher than virgin polyester prices.
May	In May, anti-coronavirus product prices fell down continually. HC virgin PSF prices fell down largely, which was approaching the level of HC re-PSF. Some HC re-PSF plants suspended operation, and one large plant in Guangdong confirmed to withdraw from the market.
Jun	With large selling pressure, some solid re-PSF producers turned to produce HC re-PSF.
Jul	Oil prices climbed up, and recycled chemical fiber sales were soft. Virgin polyester market continued to seize the market shares of recycled market.
Aug	Home textiles market improved first. PET flake prices rebounded somewhat, and HC re-PSF prices also rose.
Sep	The largest HC re-PSF plant, Guangdong Yingfeng, withdrew from the market, and operating rate was low in some plants. Local supply was tight, and stimulated by demand from both domestic and export markets, prices moved up and trading volumes increased.
Oct	PSF futures market was launched on Oct 12, and experienced continual uplimit. With the speculative sentiment and demand, non-delivery product prices also climbed up, and product inventory was sold out.
Nov	Plants have orders at hand and focused on delivery this month. Some prices softened and fell down.
Dec	Prices were largely flat, and inventory was low overall. With stricter environmental reregulate and energy consumption limit, some plants cut production or suspended operation.

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