July 22th, 2011 Daily Review on Polyester Prices

Upstream Market: Ended by the close on July 21, the futures price of light crude oil delivered by September increased 73 cents to 99.13 dollars/bbl, up 0.74%. On July 21, Asian PX price slumped 68 dollars/ton to 1520 dollars/ton FOB Korea. European PX price slumped 35 dollars to 1470 dollars/ton FOB Rotterdam.

 

PTA: The PTA price continues to increase in the overseas market today. The suppliers quoted Taiwan cargo for 1205-1210 dollars/ton and the downstream bidding price is around 1200 dollars/ton. The practical discussions are around 1205 dollars/ton. The offering of Korean cargo is around 1195 dollars/ton. The downstream bidding price is around 1175 dollars/ton and the practical discussion is around 1180-1185 dollars/ton.

 

MEG: Asian MEG forward cargo is quoted 1215-1220 dollars/ton today. The quotation with protective tariff is around 1210 dollars/ton and the buying offering is around 1200-1205 dollars/ton. The discussions with protective tariff are around 1205-1210 dollars/ton with CFR and L/C 90 days.

 

PET Bottle Chips: The polyester bottle chips play firmly in overseas market today. The leading domestic manufacturers adjusted the price around 1630 dollars/ton (FOB China Ports). The downstream bidding price is around 1600 dollars/ton. The practical discussions are around 1610-1620 dollars/ton (FOB China Ports). The trading atmosphere is dull and the real discussions are rare.

 

PSF: The Polyester Staple Fiber price is still steady in East China, among which 1.4D*38mm PSF’s leading quotations focus on 12600-12700 Yuan/ton. The core of PSF price is also adjusting in South China, among which 1.4D*38mm PSF is quoted 12700-12800 Yuan/ton by cash and with delivery.

 

PFY: The polyester yarn price continues to increase in China.The polyester yarn price keeps stable in Jiangsu Market. A local melt spinning manufacturer in Shengze increased FDY products by 100-200 Yuan/ton and some of DTY products by 100 Yuan/ton. Now they quoted light FDY 50D/36F for 16500 Yuan/ton, semi-dull FDY 55D/24F for 16600 Yuan/ton by cash and DTY 75D/144F for 19700 Yuan/ton by cash. The polyester yarn price slightly increased in Zhejiang Market. A local leading manufacturer in Xiao Shan increased some of DTY products by 100 Yuan/ton and FDY products by 100-200 Yuan/ton. Now they quoted FDY 50D/24F for 16300 Yuan/ton and DTY 150D/288F micro-web for 17000 Yuan/ton. The market is waiting for the new contract price of this month, so the straddle attitude in the market is predicted to strengthen.

 

VSF: The market price of Viscose Staple Fiber generally stayed at 18000 Yuan. Some of the manufacturers focus on the import orders recently and due to the routine maintenance, the supply of PSF became insufficient.