Direct-spun PSF market may face replenishment point

With the partial withdrawal of speculative funds, direct-spun PSF futures market also declined by 300-400yuan/mt following the trend of polyester feedstock prices , with some prices dropping to around 7,200yuan/mt, gradually approaching the year-low level of 7,000.

In terms of downstream spinning mills and traders, recent activities have mainly focused on sales or digestion, resulting in a decrease in the feedstock inventory levels to the year-low.

Therefore, whether from the perspective of absolute prices or considering the feedstock inventory in downstream spinners, there is a replenishment point in the near term. However, due to factors such as weak sales of polyester yarn and weak support from the raw materials side, there is currently a cautious attitude among downstream buyers.

If the raw materials stabilize or rebound, direct-spun PSF market may face improved sales in the short term, but the sustainability remains weak. The market holds no optimistic expectations on December, and the direct-spun PSF market may continue to consolidate at a low level.