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Enterprises grow anxious as PSF market steps down further
May '08
May Day holidays did not really have any effect on the weak Polyester Staple Fibre (PSF) market which continues to remain feeble while while stocks continued to rise.

Prices for PSF in some of the major markets showed no signs of checking the downtrend and dropped down to 11,000 yuan per ton. It being the traditional production season, the low price levels have aroused concerns regarding PSF trend for the entire year.

Tianjin Petrochemical and Luoyang Petrochemical from Sinopec Group has continued to lower their PSF offers. Current price for 1.4 D is 11,400 yuan per ton, for 1.2 D its 11,450 yuan per ton while 1.2 D bright stands at 11,600 yuan per ton. On the whole, prices are down by 200 yuan per ton from the offer in April.

Infact, prices for 1.4 D PSF in the domestic mainstream market range between 10,800-11,000 yuan per ton.

Coupled with declining price trends are the unimproved market turnovers which explains why inventory pressures have been mounting. The situation is getting so grave that PSF manufacturers have started announcing their plans of reducing production.

This according to the experts, seems to be the only viable option to stabilize the market situation since waiting for it to get better on its own may be too much to expect.

Fibre2fashion News Desk - China

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