July 8th, 2011 Daily Review on Polyester Prices

On upstream:

7^th July, in NYMEX, the Aug delivery light crude oil futures price increased $2.02 to $98.67 per barrel, the increase amount is 2.1%. Asian PX price increased $1 to $1363/t, FOB Korea; European PX price increased $20 to $1443/t, FOB Rotterdam.

PTA/MEG:

PTA quotation out abroad stabilized, Taiwan cargo was quoted at $1170/t, Korean goods was quoted at $1150/t. PTA quotation in China also stabilized, suppliers offered the price of 9100CNY/t, and the strike price was at 9050CNY/t. MEG quotation in eastern China market is around 9370-9400CNY/t, and the negotiate price is estimated at 9350-9380CNY/t.

Semi-bright poly chip sales well today, the cash take price is generally around 11900-11950CNY/t and some kind of product can be stroke as high as 12200CNY/t(three month acceptance).

On downstream:

Poly staple fiber quotation in eastern China market still consolidate, of which, the 1.4D*38mm direct spinning poly staple fiber was quoted at 12550-12650CNY/t.