Direct-spun PSF keeps rangebound in May

After sharp rise and fall in Apr, direct-spun PSF stayed rangebound in May.

In end-Apr to early May, direct-spun PSF price slid to 5,300-5,500yuan/mt, close to Apr's low. Downstream spinners which had missed previous low went bottom fishing successively, resulting in smooth transactions of direct-spun PSF before and after May Day holiday. Some over-the-counter capacity was even heard to be involved. Quickly, direct-spun PSF plants revised prices up to about 6,000yuan/mt. Although the trading volume was small later due to higher prices, the plants kept prices firm with shortage of supply.