supply/demand contradiction sustains even under continuous promotions

Price of polyester filament yarn was in downward correction since late-Sep, successively refreshing the low level since Q4 2016. Taking POY semi-dull 150/48 as an example, price of it has reduced by 970yuan/mt or above 12% to below 7,000yuan/mt since Sep 20.

During this reduction process, price of PFY did not continue falling slowly, but rapidly dropped during 5 times of promotions: 2 times before the National Day holiday, and 3 times after the National Day holiday, almost promoting once a week.