July 4th, 2011 Daily Review on Polyester Prices

On upstream:3rd July, in NYMEX, the Aug delivery light crude oil futures price dropped 48 cents to $94.94 per barrel, the drop amount is 0.5%.

PTA/MEG:PTA quotation out abroad went down slightly, Taiwan ship loaded cargo was quoted at $1160/t, Korean goods was quoted at $1150/t. PTA quotation in China weakened, suppliers reduce the price down to 9000-9050CNY/t. MEG quotation in eastern China market is around 9400-9450CNY/t, buyers offer 9350-9400CNY/t, and actual negotiated price is estimated at 9400CNY/t.

Semi-bright poly chips price in China stabilized, the mainstream quotation is at 11850-12050CNY/t (cash take). Poly bottle chips market also stabilized, now the eastern China market offered the price of 11900-12000CNY/t(EXW)

On downstream:Poly staple fiber quotation in eastern China market fell back slightly, of which, the 1.4D*38mm direct spinning poly staple fiber market quoted its mainstream at 12650-12750CNY/t.Now the mainstream plants quoted poly staple fiber FDY50D/24F cash take price at 15400CNY/t.