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Due to the improved market situation in the second half of the year, the performance of HC virgin PSF market has been relatively good this year, overall better than last year and also better than HC re-PSF market.HC virgin PSF production continues to increase. In the past two years, the growth rate
The RMB exchange rate continues to depreciate. The current central parity rate has reached around 7.2. The downstream' s willingness to purchase USD-denominated products has significantly declined, and they are more inclined to purchase yuan-denominated materials and get the tax refunded, further su
Since the beginning of November, the overall downstream demand has weakened. For example, the demand for agricultural film has gradually returned to the off-season. With weak orders and a slight decline in operating rates compared to the previous period, the procurement demand for raw materials has
The most obvious aspect on the supply side is the significant increase in domestic production capacity. Currently, the 500kt/year HDPE plant and 300kt/year HDPE/LLDPE plant of Sinopec/Ineos Tianjin has been commenced in Nov. It is estimated that the average monthly increase is around 70,000 tons. Su
