July 6th, 2011 Daily Review on Polyester Prices

At the close of July.5, the price of COMEX light crude oil futures for August delivery raised 1.95 dollars to 96.89 dollars per barrel. The price of London market Brent Oil futures for August delivery raised 2.22 dollars to 113.61 dollars per barrel .While July.5 the price of Asia PX raised 6 dollars to 1356 dollars per ton FOB Korea, Europe PX stayed the price at 1423 dollars per ton FOB Rotterdam.

PTA: Today PTA domestic market is flat, the suppliers’offer is around 9050-9100 RMB/T and the practical negotiated price is at 9050 RMB/T. The abroad market is falling. The Taiwan cargo offers around 1165-1170 dollars/ton, the practical negotiated price is about 1160-1165 dollars/ton. Korea cargo quotes at 1150-1160 dollars/ton, and the practical negotiated price is about 1150-1155 dollars/ton. MEG: Today the MEG market is consolidated. Some domestic quotation is at 9450 RMB/T, the practical offer of shipping cargo in overseas market is at 1235 USD/T.

Downstream Market: today the domestic market of PET Bottle Chip keeps stable, mainstream price from the main manufactories is around 12050 RMB/T (cash, factory price). In China Jiangsu and Zhejiang market, the offer of semi-dull polyester chips from mainstream factories is mainly stable. The discussion price is around 12100 RMB/T (acceptance for three months). The mainstream factory price of polyester spun yarn 1.4D*38mm in East China market keeps stable and the price is around 12600-12700 RMB/T.