April 19, 2011- Polyester Price Perform Flatly In Jiangsu-Zhejiang, China

-upstream market became weak, the polyester price decreased

Today’s polyester yarn price became weak in Jiangsu market. For example, one of the mainstream manufacturers in Shengze generally decreased the quotations by 200-300 Yuan/ton; and now they quoted light FDY 40D/24F for 17,500 Yuan/ton and semi-light FDY 50D/24F for 17,000 Yuan/ton. Another melt spinning manufacturer also decreased the price of some expensive products by 200-300 Yuan/ton. Because of the previous price regulation, a local direct spinning manufacturer stabilized the quotations and quoted FDY 50D/24F for 17,500 Yuan/ton and DTY 75D/72F for 20,300 Yuan/ton. The manufacturers reported that the early inquiry was weak. 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 by cash remittance. The polyester price keeps unchanged in Zhang Jiagang. Now a local manufacturer quoted light FDY 40D/24F for 18,200 Yuan/ton with a 100-yuan discount in the practical transaction.

The polyester price went weak today in Zhejiang Market. A local manufacturer in Xiao Shan decreased the price of some products as the following form.

Now they quoted DTY 50D/72F micro-web for 23,400 Yuan/ton and POY 200D/72F for 14,600 Yuan/ton. And other manufacturers unchanged the prices. The polyester prices keep steady in Shao Xing. Now a local manufacturer quoted FDY 75D/36F for 16,000 Yuan/ton; and some manufacturers give discount during the practical transaction in addition. The polyester prices are in stalemate 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 balanced yesterday.

The PTA futures price became decreasing yesterday in ZCE. The main force contract 1109 closed at 10,434 Yuan/ton, which greatly dropped 214 Yuan/ton compared with last settlement day. The mainstream negotiated price of polyester chips was around 13,500 Yuan/ton (3-month acceptance) in Jiangsu-Zhejiang market and partial negotiated price was 13,450 Yuan/ton (3-month acceptance). Because the national policies of regulation and control became tighter and tighter, the capital pressure enlarged a lot, which makes the downstream market hesitate to stock up and hold a straddle attitude. Therefore, the weak situation of the polyester price is hard to change in a short term.