March 18, 2011- Polyester Price in Jiangsu-Zhejiang, China

-Crude Oil Dramatically Increased, The Polyester Price Keep Consolidating

The polyester yarn price keeps in stalemate 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 early inquiry was good and the straddle attitude became weak in the downstream market. The polyester price is also stable 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). Another local manufacturer quoted POY 75D/72F for 17,400 Yuan/ton and 150D/144F 15,400 Yuan/ton. The polyester price keeps stable in Zhang Jiagang. The local manufacturers’ quotations keep unchanged. Now a local mainstream manufacturer quoted light FDY 40D/24F for 19,100 Yuan/ton (Spot Exchange).

The polyester yarn price has slight adjustment in Zhejiang Market today. One of the POY manufacturers in Xiao Shan increased the quotation of POY by 100 Yuan/ton, who now quoted POY 150D/144F for 14,950 Yuan/ton. Another local manufacturer decreased the price of FDY products. Among those, 100D/72F decreased 300 Yuan/ton; 120D and TCS decreased 200 Yuan/ton and others decreased 100 Yuan/ton; 200DC kept unchanged and other decreased 100 Yuan/ton. Now they quoted FDY 66D/24F for 17,900 Yuan/ton and FDY 100D/72F 15,900 Yuan/ton. The other local manufacturer kept the previous quotations and quoted POY 75D/72F for 17,100 Yuan/ton. The manufacturers said that the storage amount was a little high. The polyester price keeps 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 that the sales of POY and FDY were ordinary yesterday and their production-marketing was 60-80%, while the DTY sales were good and the production-marketing was balanced.

The international oil price surged yesterday. Ended by the close, the futures price of light crude oil delivered in April sharply increased 3.44 dollars to 101.42 dollars per drum in COMEX and its increasing rate was 3.51%. The futures price of North Sea Brent Oil delivered in May increased 4.28 dollars to 114.90 dollars per drum in London Market, and the increasing rate was 3.9%. The main force PTA futures, contract 1105 closed at 11,490 Yuan/ton, which increased 140 Yuan/ton compared with last trading day. Affected by this, the polyester price is still adjusting in Jiangsu-Zhejiang Market today.