During Spring Festival holiday (Jan 31-Feb 6), most large direct-spun PSF plants will not reduce or suspend production. And the capacity of those who plan to cut or suspend production is below 200kt/yr. Firstly, most plants were shut down for maintenance during previous dual control on energy consumption and periodical production reduction. Secondly, current product inventory of direct-spun PSF plants is low, especially that for spinning, and most plants hold orders to be finished at hand. Before the suspension of Huahong, the operating rate of direct-spun PSF plants only inched down to about 80%. In end-Jan, Huahong’s shutdown dragged the operating rate of direct-spun PSF to 73-74%, but it has few impacts on the output. The operating rate averaged at about 81% in Jan, slightly lower than that in Dec, and with the same number of days, Jan output will not be much less than Dec. In early Feb, the operating rate will be relatively low and it may recover to 85-90% during mid- to late Feb, averaging at 83.4%, but there are only 28 days in Feb, so the output will be low. In terms of downstream spinners, most of them purchased enough raw materials at low prices for pre-holiday use in Dec, but as the price of direct-spun PSF further moves up in Jan, they start to be hesitant to buy, so they do not have adequate raw materials stocks for post-holiday production. Therefore, post-holiday restocking demand is still worth expecting.