April 14, 2011- Polyester Price Steadily Increase In Jiangsu-Zhejiang, China

-Manufacturers Focus on the Selling Quantity, Today’s Price Keeps Steady

Today’s polyester yarn price mainly keeps steady in Jiangsu market. For example, the mainstream manufacturers in Shengze stabilized their quotations. A melt spinning manufacturer’s quotation keep steady, and they quote DTY 75D/72F for 20,700 Yuan/ton. A local direct spinning manufacturer quoted FDY 50D/24F for 17,500 Yuan/ton. The other manufacturer quoted light FDY 40D/24F for 18,000 Yuan/ton. The manufacturers reported that the production and marketing can be balanced yesterday, but the ratio fell back a little. The polyester price is steady in Taicang. A local manufacturer quoted FDY75D/36F for 16,000 Yuan/ton and POY 75D/72F 17, 250 Yuan/ton. The polyester price keeps steady in Zhang Jiagang. Now a local manufacturer quoted light FDY 40D/24F for 18,200 Yuan/ton. Manufacturer reported that the early inquiry weakened.

The polyester price is mainly steady in Zhejiang Market. A local POY manufacturer in Xiao Shan increased the price of fine denier series which are in short supply by 100 Yuan/ton and reduced the price of some rough denier products which have high storage by 50 Yuan/ton. Now they quote POY 150D/144F for 14,610 Yuan/ton. And other manufacturers unchanged the prices. One manufacturer there quoted FDY 66D/24F for 16,700 Yuan/ton. Manufacturer said the production-marketing fell back. The polyester prices keep steady in Shao Xing. Now a local manufacturer quoted FDY 75D/36F for 16,000 Yuan/ton. The polyester price keeps steady in Tong Xiang market. A local manufacturer quoted POY 150D/144F for 15,100 Yuan/ton and POY 150D/48F 14,800 Yuan/ton. Manufacturers said the production-marketing was good and around 150%; however, some of the goods were all ordered the day before yesterday.

Because of the regulation yesterday, ended by the close, the futures price of light crude oil delivered in May increased 86 cents in NYMEX, which closed at 107.11 dollars per drum. In London Market, the futures price of North Sea Brent oil increased 1.96 dollars, closed at 122.88 dollars per drum and the increasing rate was 1.62%. However, the Asian PX price continued to decrease yesterday. On April 13, it decreased 15 dollars to 1583 dollars/ton FOB Korea and the European PX price stayed at 1607 FOB Rotterdam basically. Although the production-marketing of the polyester yarn manufacturers was good these days, it only reduced the storage amount by 4-day to 6-day amount. So the stock pressure of the manufacturers still exists. See from yesterday’s situation, this run of periodical cover is coming to an end, so the manufacturers will focus on the selling quantity recently.