March 17, 2011-Polyester Price In Jiangsu-Zhejiang, China

The Upstream Market Becomes Stable, The Polyester Yarn Price Mainly In Stalemate

The polyester yarn price keeps steady in Shengze, China today. The local mainstream manufacturers stabilized the quotations. Now a local direct spinning manufacturer quoted FDY 50D/24F for 19,900 Yuan/ton (6-month Acceptance), DTY 75D/72F 21,600 Yuan/ton (6-month Acceptance) and POY 75D/72F 18,100 Yuan/ton (6-month Acceptance). Another local melt spinning manufacturer quoted low-stretch DTY 150D/48F for 18,000 Yuan/ton and FDY 50D/48F 20,000 Yuan/ton. The other manufacturer quoted light FDY 40D/24F for 19,500 Yuan/ton. The manufacturers said that the sales rose back yesterday and the production-marketing were around 50-70%. The polyester price is also unchanged in Taicang. Now a local manufacturer quoted POY 75D/72F for 17,750 Yuan/ton (3-month Acceptance) and FDY 50D/24F for 19,100 Yuan/ton (Spot Exchange). The manufacturers said that the early inquiry had a little increase compares with last few days. The polyester price keeps stable in Zhang Jiagang. Now a local mainstream manufacturer quoted light FDY 40D/24F for 19,100 Yuan/ton (Spot Exchange).

The polyester yarn price is mainly steady in Zhejiang Market, but one of POY manufacturers in Xiao Shan reduced the quotation of POY by 100 Yuan/ton. Now they quoted POY 150D/144F for 14,950 Yuan/ton. Another local manufacturer’s quotations keep steady, who quoted FDY 66D/24F for 17,900 Yuan/ton and low-stretch DTY 150D/48F for 16,500 Yuan/ton. The manufacturers said that the downstream market was still holding back and the production-marketing was hard to be balanced. The polyester price is adjusting in Tong Xiang. Local manufacturers stabilized the quotations. Now a local manufacturer quoted POY 150D/144F for 15,600 Yuan/ton and low-stretch DTY 150D/48F for 16,800 Yuan/ton. They said the production-marketing was around 80-90%.

The international oil price stopped dropping and began to rise yesterday. NY oil price futures increased 0.80 dollars to 97.98 dollars per drum; Brent oil futures increased 2.10 dollars to 110.62 dollars per drum. Asian PX price stays steadily at 1,795 dollars FOB Korea and European PX price stays at 1,780 dollars FOB Rotterdam. Because the straddle attitude is strong in the downstream market and it is hard to sell raw material numerously, the polyester price in Jiangsu-Zhejiang will mainly keep steady.