UNISKY SHANGHAI HONGKONG LTD
PSF market operates well in the first half of 2017PSF market operates well in the first half of 2017 2017-06-27 Except for a price slump in Mar-Apr, 2017, direct-spun PSF market performed good on the whole in the first half of 2017.  Like 2016, direct-spun PSF price peaked down in the first half year. Yet compared with the range of 6,000-7,500yuan/mt last year, the level was higher at 7,000-9,000yuan/mt in 2017. And despite of big fluctuation of price and price plunge in Mar-Apr, direct-spun PSF cash flow greatly improved year on year, prevailing at 200-400yuan/mt with higher at 500-600yuan/mt. There was only an occasional mild losses in direct-spun PSF plants, while in the same period of 2016, the profit basically remained at the breakeven line.  As for operating rate, this index presented higher, averaging at 81.5% compared with 72.1% in the first half of 2016. Excluding 5.4% hike due to effective capacity reduction, the average run rate was still 4% higher. To mention that less number of plants halted or lowered production and the production halt or decrease was shorter during the Lunar New Year holiday.  Direct-spun PSF plant inventory hiked to as high as above 20 days in Mar-Apr, yet later kept falling until Jun when the level was basically equal with that in last Jun. Average stock in the first half of 2017 was around 10.8 days compared with 9.1 days in the same period of 2016.  Thus on the whole, direct-spun PSF market operated well in the first half of 2017. |