May 17th, 2011 Daily Review on Polyester Prices

 

Upstream Market: On May 16th, the futures price of light crude oil delivered by June decreased sharply 2.28 dollars to 97.37 dollars per barrel and its decreasing rate was 2.3% on the New York Mercantile Exchange (NYMEX).This set the lowest closing price since May 6th. Asian PX price rise 2 dollars to 1,507 dollars per ton FOB Korea, and European PX price fell 1 dollar to 1,576 U.S. dollars per ton FOB Rotterdam.

PTA Spot Goods: Today the domestic PTA spot market is flat, now the actual negotiating price is near by 9,500-9,550 Yuan per ton, the transaction atmosphere is insipid, and the actual negotiation is general in the market. The overseas PTA market is also slowdown relatively, the quotation of Taiwan cargo is about 1,225-1,230 U.S. dollars per ton, and the quotation of Korean cargo is near by 1,220 U.S. dollars per ton. The market transaction atmosphere is weakness, and the actual negotiation is scarce.

MEG: Today the spot price of MEG is stable in East-China market, now the quotation maintains 8,700 Yuan per ton or so, and the marketing is good.

Downstream Market: Today the polyester chip price continues to be weak in China-Jiangsu and Zhejiang market, and the major quotation of semi-bright chip is around 12,200-12,300 Yuan per ton. Meanwhile, the polyester staple fiber price continues to be down in China-Jiangsu and Zhejiang region, and the transaction atmosphere is worse. At present, the major quotation of polyester staple fiber is 12,900-13,000 Yuan per ton, and the transaction center is 12,800-12,900 Yuan per ton. The demand is hard to improve in the downstream, the purchasing needs to be cautious, and the transaction is scarce. At present, the polyester filament price still goes weak in China-Jiangsu and Zhejiang market, the manufacturer shipped a strong intention, and the quotation fell down sharply.

Forecast: Now the polyester price continues to be adjusted vulnerable in the upstream and downstream, and the price continues to be downward, so recently the wait-and-see mood is heavier in the market, and the price still tends to be weak.