July 7, 2011- The Polyester Price Increased but Steady in China

Last night, People’s Bank of China decided to raise RMB benchmark deposit and lending interest rates since July 7. The annual benchmark deposit and lending interest of financial institutions increased 0.25% separately. The market is digesting the non-interest situation, so the polyester price shows increasing but steady tendency.

In Jiangsu Market, the polyester yarn is mainly steady in Shengze. A local leading manufacturer quoted FDY 50D/24F for 15900 Yuan/ton (6-month acceptance), FDY 50D/48F for 16600 Yuan/ton (6-month acceptance) and DTY 150D/144F for 17000 Yuan/ton (6-month acceptance). Another manufacturer increased FDY products by 100 Yuan/ton. Manufacturers reported that the production-marketing was good. The polyester yarn price in Taicang keeps steady. One of the local manufacturer quoted POY 75D/72F for 16000 Yuan/ton and POY 150D/144F for 15050 Yuan/ton. Manufacturers said the limitation of electricity influenced greatly upon the production, but the production-marketing rate was still good.

In Zhejiang Market, a leading manufacturer in Xiao Shan unchanged the quotations. Now they quoted POY 105/36 for 15150 Yuan/ton, POY 135/38 for 14500 Yuan/ton. Another local manufacturer stabilized the quotations. Now they quoted DTY 150D/48F for 16000 Yuan/ton, DTY 300D/96F low-stretch 14900 Yuan/ton. Other manufacturers quoted DTY 150D/48F 16000 Yuan/ton, DTY 200D/96F 15300 Yuan/ton, DTY 300D/96F 14800 Yuan/ton, DTY 75D/72F light-web 18500 Yuan/ton, DTY 100D/144F low-stretch 17900 Yuan/ton, DTY 150D/144F light-web 16600 Yuan/ton. A local manufacturer in Shao Xing quoted light FDY 50D,75D, 150D for 15410 Yuan/ton, 14560 Yuan/ton and 13910 Yuan/ton separately. Manufacturers reported that the production-marketing was good.

Judge from the entire market, as in the dull season, downstream weaving factories don’t have many orders. The limitation of electricity due to the hot weather also influenced the operating rates indirectly. The upstream material’s prices are still weak, so the polyester yarn can hardly have any change.