Views:0 Author:Site Editor Publish Time: 2019-08-15 Origin:Site
Firstly, the cash flow of direct-spun PSF has room to be compressed.
Recently PTA keeps dropping, followed by direct-spun PSF. But the decrease of the latter is less than that of the former, so the cash flow of direct-spun PSF remains healthy. As PX-PTA spread is compressed close to cost line at 700-800yuan/mt, the decline of PTA may slow down. But for direct-spun PSF, amid accumulating inventory of product, the plants will keep selling with discounts, thus the cash flow is likely to shrink further.