Polyester filament yarn (PFY) inventories in China dropped significantly during the week as a Ningbo plant underwent maintenance and mainstream producers expanded production cuts, reducing market supply. The supply reduction stimulated downstream purchasing interest, with actual order discounts widening through negotiations. However, u201cSilver Octoberu201d demand fell short of expectations, with downstream weaving enterprises loss-making and negative feedback transmitting to the PTA market, where prices retreated from highs. PX market remained range-bound at high levels amid tight supply and rising oil prices. MEG prices moved lower on insufficient demand support.
Source: Xinda Securities / Sina Finance
