Upstream Raw Material Went Weak, the Polyester Yarn Price Keeps Steady In Jiangsu-Zhejiang (2011-2-25)

The polyester yarn price is mainly stable in Shengze, China today. Local manufacturers’ quotations keep unchanged. Now A local direct spinning manufacturer quoted FDY 50D/24F for 19, 200 Yuan/ton (6 Months Acceptance) and DTY 75D/144F 21,300 Yuan/ton. Another local melt spinning manufacturer quoted low-stretch DTY 150D/48F for 17,800 Yuan/ton. And the other manufacturer quoted spot exchange of FDY 50D/48F for 18, 800 Yuan/ton and light FDY 40D/24F 19,500 Yuan/ton. Manufacturers reported that yesterday’s sales were obviously lower than previous days, and the production-marketing fell back to 70-80%. However, POY selling went flat yesterday, while the FDY was comparatively good. The polyester yarn price keeps steady in Taicang, China. The local manufacturers stabilized the quotations. Now one of them quoted FDY 50D/24F for 19, 000 Yuan/ton (Spot Exchange) and POY 75D/72F is quoted 17, 350 Yuan/ton (Spot Exchange). Manufacturers said the production-marketing fell back to 70%.

The polyester yarn prices are mainly steady in Xiao-Shao Market, China. The local mainstream manufacturers’ quotation keeps unchanged. Now a local manufacturer in Xiao Shan quoted FDY 68D/24F for 17,900 Yuan/ton. Another POY manufacturer quoted POY 75D/144F 17,560 Yuan/ton and POY 75D/72F 16,710Yuan/ton. One manufacturer in Shao Xing quoted light FDY 75D/36F for 16,900 Yuan/ton and FDY 68D/24F 17,500 Yuan/ton.

The polyester price keeps steady in Tong Xiang Market. The local manufacturer unchanged the quotations. Now one of them quoted POY 150D/144F for 15,400 Yuan/ton and low-stretch DTY 150D/48F 16,500 Yuan/ton. The manufacturer said yesterday’s production-marketing slightly fell back to 120%-150% and the early inquiry was obviously down.

Yesterday, the international crude oil price slightly fell back. Ended by the close on Feb.24, the futures price of light crude oil delivered in April dropped 82 cents and closed at 97.28 dollars/drum. In the London Market, the futures price of the North Sea Brent oil delivered in April tinily increased 11 cents and closed at 111.36 dollars/drum. The main force of PTA futures in ZCE, contract 1105 finally ended its violently boost tendency and closed at 11,632 Yuan/ton, which dramatically dropped 230 Yuan/ton compared with last trading day. Therefore, this run of concentrative cover which pulled by the high cost is weakening. I predict that today’s sales will slide down and the wait-see attitude in the downstream will rise again.