August 30th, 2011 Daily Review on Polyester Prices

Upstream Market：Aug.29th the price of COMEX light crude oil futures raised to 87.27 dollars per barrel at the close. The price of Brent Oil futures in London market raised to 111.88 dollars per barrel .While Aug.29th the price of Asia PX raised 17 dollars to 1655 dollars per ton FOB Korea, Europe PX was stable at 1570 dollars per ton FOB Rotterdam.

PTA: the PTA domestic market is stable. The suppliers’ offer is at 10100 RMB/T. The abroad market is stable too. The Taiwan cargo offers 1290 dollars/ton, and Korea cargo offers 1270-1275 dollars/ton.

MEG: today the MEG market goes up. The domestic offer is at 9850-9900 RMB/T, the overseas offer is at 1275 USD/T.

Downstream Market:
Polyester spun yarn: The polyester spun yarn in east China market goes up slightly. The mainstream factories quote 1.4D*38mm direct spinning at 13350－13450 RMB/T. Meanwhile, the south China market goes up too. The offer is around 13450-13550 RMB/T.

PET Bottle Chip: the domestic market of PET Bottle Chip goes up, mainstream price from the main manufactories is around 13200-13300 RMB/T.