The Comment on Polyester Quotation on April 29th

 

 

   

    The federal government hinted that it will not change the monetary policy, claimed the inflation will be temporary, besides, the U.S. economy is still in the process of a moderate recovery. Thus crude oil futures price of New York Commodity Exchange increased on Wednesday, the June acceptance crude oil price is quoted at $112.76 per barrel, increased 0.5%. While yesterday, Asian PX price increased $18 to $1600 per ton, FOB Korea, and European PX price keeps mainly at $1600 per ton FOB Rotterdam.

 

   

     Today, PTA domestic market quotation is consolidating at a low level, suppliers’ quotation is stably around 10500CNY/t, and its actual strike price is around 10400-10430CNY/t. Market transaction atmosphere is quiet and real transaction is seldom. Abroad market quotation rise up slightly. Taiwan ship loaded cargo price rose $10 per ton to $1330-1340 or so; Korean goods quotation increased $25 per ton to $1330-1335 per ton. The market trading atmosphere is lively, but the actual transaction is still seldom. Today, PTA futures price rebounded up in Zhengzhou Commodity Exchange. Its 1109 contract final quotation is closed at 10240CNY/t, which increased 102CNY/t in compare with the previous trading day.
 

    Comment on MEG price:
 

    Today, MEG price increased slightly. About domestic quotation, suppliers offered the price at the level of 8850CNY/t; mainly it was negotiated at 8800CNY/t or so. And about abroad market quotation, suppliers quoted at $1140/t and the strike price was negotiated around $1135-1140 per ton. Suppliers are generally reluctant to sell up the goods.
 

     Comment on PET Chips Price: 
 

    Today, the poly market tends to be stable, poly bottle chips price is maintained around 13200-13300CNY/t (factory price). The trading atmosphere is just on average. Semi-gloss polyester chips price in Jiangsu and Zhejiang market is mainly around 12900CNY/t (cash take price). Bright chips spot goods price is at 12700-12800CNY/t(cash take price). Poly staple fiber market quotation stabilized in Eastern China market. Now, 1.4D*38mm direct spinning poly staple fiber mainstream is quoted at 13500-13700CNY/t. Poly fiber quotation in Jiangsu and Zhejiang market is generally unchanged, only a few high priced manufacturer made some relevant reduction. Today, the production and marketing rate in plants of Jiangsu and Zhejiang province is generally at 70% to 80%, a few plants distinctively reach 120% -130%.

 

    Forecast:

   

    Now upstream material price kick the bottom and rebound up, while downstream rigid demand still exists. Therefore, polyester fiber sale is expected to run on quantity.