Sales of PFY and PSF decreased again, and stocks of PFY turned to rise.

Sales of polyester products hiked, especially in early-Apr. Stocks of POY and FDY reduced by around 15-20 days. This round of destocking was mainly driven by the speculative demand, belonging to bottom fishing of downstream players. The buyers included the direct downstream companies, traders and players from other industries. Around 20% of the inventory reduction of PFY was attributed to the traders and capital from other industries. Downstream buyers showed weaker momentum to chase up with high feedstock and finished goods stocks after buy-the-bottom. Sales of PFY and PSF decreased again, and stocks of PFY turned to rise.