Surging oil and polyester feedstock price stimulated sales of polyester products

Transactions of PSF hiked yesterday afternoon driven by rallying oil and feedstock price, with sales ratio mainly around 200-300%, lower around 100% and higher at 500-600%. Most buyers purchased to cover the pressing demand, cautious in having bottom-fishing. Sales of downstream polyester yarn remained slack, failing to show signals to improve. Stocks of finished goods in PSF plants were normal, at 10-11 days. Eyes are suggested to whether price of feedstock market will stabilize.