May 18th, 2011 Daily Review on Polyester Prices

May 17th COMEX，the call price of the future for June delivery sank 0.46 dollars than the last trading day to 96.91 dollars per barrel. The ICE call price of the future for July delivery sank 0.85 dollars than the last trading day to 109.99 dollars per barrel.

Under the influence of PTA rebound, today the quotation of PTA  spot goods is stable, domestic quotation of east China quotes around 9550-9600 CNY. Quotation out abroad, the ship goods from Taiwan quote 1215-1220 USD, Korea goods quote around 1205-1210 USD, the Transaction atmosphere is cold. While the MEG domestic quotation is to climb. At the moment the quotation at east market is around 8700-8750 CNY.

Downstream: today polyester market have consolidated, the quotation of semi-dull chips at Jiangsu and Zhejiang market keeps 11800-11850 CNY(spot cash). The mainstream price of bright poly chips sank to 11800 CNY (spot cash). The mainstream price of bottle grade chips at east China is around 12300-12400 CNY. The Polyester Filament Yarns quotation at Jiangsu and Zhejiang market upturns; the products and sales increase both, while the Polyester Staple Fiber quotation at east China still weak, 1.4D*38mm direct spinning polyester spun yarn market lowers the mainstream factory price to 12600－12750 CNY.

In the near future, the upstream market of polyester is picking up, in the same time the buy orders from downstream market are on the increase, and then the polyester quotation will turn stable in the near future.