July 12th, 2011 Daily Review on Polyester Prices

Upstream Market: New York Crude futures closed down on Monday. The futures price of light crude oil delivered by August decreased 1.05 dollars to 95.15 dollars per barrel in NYMEX on Monday. The decreasing rate was 1.1%, a new low since July 1.

PTA: Although PTA futures dropped dramatically, the spot market is comparatively firm. In domestic market, some selling offering is around 9100-9105 Yuan/ton and the practical negotiated price is around 9000-9050 Yuan/ton. The selling offering of Taiwan cargo is around 1165 dollars/ton and the practical price is around 1155-1160 dollars/ton, but there is not much shipment during the real trades.

MEG: MEG market continues weak and adjusting tendency. Some selling offering in domestic market is around 9350-9400 Yuan/ton, the practical price is trade lowly around 9300-9350 Yuan/ton. The prices are comparatively weak in abroad market. Suppliers quoted some cargo for 1220-1225 dollars/ton, but the buying offering is lowly around 1210 dollars/ton. The practical trades are also comparatively weak.