PTA/MEG Market Express (Sep 6, 2010)

PTA
	Offers	Traded Price
China domestic (yuan/mt)	7450-7500	7420-7450
Taiwan origin PTA($/mt CIF China L/C 90 days)	910-915	905-910
Korea origin PTA($/mt CIF China L/C 90 days)	895-900	890-895

MEG
	Offers	Traded Price
China domestic(yuan/mt)	6550-6600	6520-6550
Import market($/mt CFR China L/C 90 days)	$815-820	$807-812

Spurred by PTA futures, PTA spot offer moves up to 7450yuan/mt or above and its price also ticks up. This morning, one spot deal is done at 7420yuan/mt by cash, ex-work and another deal is done at 7450yuan/mt in Zhejiang. Korea-origin spot cargos are offered at $900/mt, against traded price at $890-895/mt. Taiwan-origin spot cargos were offered at $915/mt, against traded price at $905-910/mt. Traders continue to push offer up further but polyester plants are unwilling to purchase at high price.　

On RMB market, MEG is offered at 6550-6600yuan/mt and some traders with low inventory plan to purchase. Large-quantities transaction is to be done above 6500yuan/mt and small-quantities deal may be done around 6500yuan/mt. Some MEG traders are willing to sell.

On USD market, MEG price presents stable and ship cargoes are offered at $915-920/mt but buyers make bid around $805/mt. Transaction is involved in stalemate and its talked price is placed around $810/mt.

$1=CNY6.78