Polyester staple fiber prices have continued sharply rebounding in the past seven days in China whereas being also raised in Pakistan. The low level of Chinese inventories could continue supporting prices.
Polyester fiber prices could rapidly stabilize in the coming period in China, after having sharply rebounded in the last 10 days.
In Pakistan, PSF prices have been raised after import offers for Chinese fibers have increased in the last days.
In China, operating rates have been rapidly raised after demand has begun recovering, now returning to as high as 90% in the polyester fiber industry.
Production levels have also been significantly increased at PTA plants, now reaching 84%.
On the other hand, inventory levels have stayed very weak at both PTA and polyester plants, whereas paraxylene prices have significantly increased in the past 10 days.
Polyester filament prices have less risen in the last days than PSF prices, only gaining 200 to 300 yuan per metric ton or 2% to 3.4%.
In the meantime, PSF prices have surged 380 yuan or 5% in a single week.
Market participants are actually waiting for the result of the G20 summit at the end of the week.
If China and the US would not find an agreement, anticipations could return to negative territory and prices could fall.