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Rebalance of China PSF market
!!Zhu Peijun, Sinopec Chemical Commercial Holding Company Limited

2018-07-13 10:47:54
Zhu Peijun, Sinopec Chemical Commercial Holding Company Limited, presented his report of Rebalance of China PSF market 

The speech is divided into four parts: 
1. 2017 climate index obviously went up with rising profits and output, which was boosted by rising price resulting from PSF cost, increasing substitutional demand by virgin PSF, improving profits of companies and better market sentiment. 

2. 2018 climate index gradually goes down. PSF price keeps weak with falling profits, but inventory and output keep growing. 

3. Policy uncertainty may break the balance. The increment of PSF conventional consumption is slow and producers turn to purchase virgin PSF from re-PSF. If the policy on imported re-PET clean flakes looses, PSF market will be affected and the cost of market mechanism rebalance will be enormous. 

4. Suggestions 
(1). The recall of the waste import policy should be an improved adjustment. 
(2). Work together to increase export prices and evade anti-dumping. 
(3). To limit production and insure price is a necessary measure for the healthy operation of the industry. 
(4). Differential product development is the way to survive. 
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