July 20th, 2011 Daily Review on Polyester Prices

Upstream: On 19th July, in NYMEX, the Aug delivery light crude oil futures price increased $1.57 to $97.50 per barrel; the increase amount is 1.6%. Asian PX price increased $29 to $1514/t, FOB Korea; European PX price increased $35 to $1455/t, FOB Rotterdam.

PTA/MEG: PTA quotation out abroad stabilized, Taiwan goods was quoted at $1175-1180/t, Korean goods was quoted at $1160-1165/t. PTA quotation in China also stabilized, suppliers offered the price of 9150-9200CNY/t, and the strike price was around 9120-9150CNY/t. MEG quotation in eastern China market is 9350CNY/t, and the strike price is 9300CNY/t.Semi-bright poly chip price stabilized, the mainstream, cash take price is quoted around 12500CNY/t.

Downstream: Poly staple fiber quotation in eastern China market kept unchanged, of which, the 1.4D*38mm direct spinning poly staple fiber was quoted around 12600-12700CNY/t.