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Insight | Time:Jun 21 2018 1:30PM
New capacities weigh on virgin PSF market
 
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Since 2018, capacity growth of virgin PSF obviously sped up with some old units resuming operation and new units starting, thus production obviously increased.

Production surges up

Except during the Spring Festival, virgin PSF production year-on-year growth increased rapidly, especially since the second quarter when Zhejiang Hengyi, Jiangsu Yida and Zhejiang Quandi increased production or resumed operation. In May, monthly production hit a record high.

Price increase lacks drive compared with other polyester varieties

Since last August to the second quarter, virgin PSF price showed relatively firm compared with other polyester products, increasing from a level lower than POY to a higher one and even sometimes flat with FDY. Yet after the period, the price distinctively weakened to a level again lower than POY.

Cash flow gradually falls

Virgin PSF cash flow remained good in the first half of 2018, yet was obviously lower than last fourth quarter. What’s more, it was in the downward trend.

However, in the second half of this year, another 800kt/yr units will start or resume operation, which is very likely to bring up virgin PSF production. What impacts will these capacities bring to virgin PSF market? How is going of new growth areas such as low-melting PSF, PSF for spun-laid nonwovens, HC PSF and PSF for sewing thread? Will these products face a big change like PSF for spinning?

As a reference, CCFGroup will hold 2018 PSF Industry Forum& the 6th Re-PET Forum on Jul 12-13, at which domestic and international PSF industrial players such as PSF enterprises, spun-laid nonwovens enterprises, home-textiles ones and spinners will gather together to discuss future industrial development. About the conference, please refer to 2018 PSF Industry Forum& the 6th Re-PET Forum )
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