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Insight | Time:Jan 5 2018 10:37AM
Feedstock shortage drives up HC re-PSF market in Guangdong
 
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Against the weakness in the past one month, HC re-PSF market increased by 200-300yuan/mt in recent two days in Guangdong. Local 7-15D HC re-PSF offers now prevails at 8,300-8,600yuan/mt, pre-tax, ex-works.



Feedstock shortage---major push
Feedstock supply sustained tight in 2017. In December, though some plants in Guangdong lowered purchase price due to falling HC re-PSF price, suppliers were reluctant to sell sources with low price. And though feedstock price increased in recent days, plants still found it hard to procure the sources. At present, local purchase price is mixed. Cold washed blue and white flake for HC re-PSF price prevails at 6,250-6,300yuan/mt with higher at 6,500-6,600yuan/mt, pre-tax, ex-works. Moreover, environmental protection still intensified the tightness. Some flake suppliers were shut down from Dec, 26-Dec 31. For recycled polyester plants, they had little stock of feedstock yet needed to build up inventory before the Lunar New Year. In the past month, some plants stopped or limited the procurement of feedstock. And the overall stock in Guangdong was lower than in Zhejiang. Coupled with expected falling imports and later production recovery of flake suppliers than recycled fiber enterprises after the Lunar New Year holiday, local recycled polyester plants found it more urgent to replenish as soon as possible.



Other markets hover around
Shandong: amid shortage of natural gas and hiking production cost as well as weakening demand, local operating rate slumped. And plants that stopped production had high inventory and sales was weak.

Jiangsu: Local plants were faced with mounting pressure amid hiking feedstock cost. Though some plant intended to increase, more took a wait and see attitude.

Zhejiang: Local offer hovered round and sales remained tepid. Large plants’ movement was much attended by other market players.

As the price spread between these markets was low, sources flow was slow.

On the whole, feedstock shortage pushed up HC re-PSF price in Guangdong, making it an eye-catching picture in the overall tepid presence. Downstream plants and traders may restock moderately. And its sustainability shall be attended.
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