Daily Review on Polyester Prices(June 23th, 2011)

June.22 at the close, the price of COMEX light crude oil futures for August delivery raised 1.24 dollars to 95.41 dollars per barrel. The price of London market Brent Oil futures for August delivery raised 3.11 dollars to 114.06 dollars per barrel .While June.22 the price of Asia PX sank 6 dollars to 1438 dollars per ton FOB Korea, Europe PX sank 11 dollars to 1454 dollars per ton FOB Rotterdam.

PTA: Today PTA domestic market is falling, the suppliers’offer is around 9350-9400 Yuan/ton and the practical negotiated price is at 9350 Yuan/ton. The abroad market is stable. The Taiwan cargo offers around 1190-1195 dollars/ton and Korea cargo quotes at 1175-1180 dollars/ton.

MEG: Today the MEG market is mainly stayed consolidated. The domestic mainstream quotation is at 9400 RMB/T, the offer of shipping cargo in overseas market is at 1245 USD/T.

Downstream Market: today the domestic market of PET Bottle Chip keeps stable, mainstream price from the manufactories is around 12600 RMB/T (cash, factory price). The market trading atmosphere is flat. In China Jiangsu and Zhejiang market, the offer of semi-dull polyester chips from mainstream factories is few, the spot cash price is around 11900-12000 RMB/T. The mainstream factory price of polyester spun yarn 1.4D*38mm in East China market sank to 13000-13100 RMB/T.