May 24th, 2011 Daily Review on Polyester Prices

 

 

Upstream Market: The futures price of New York crude oil decreased on Monday. Ended by the close, in NYMEX, the futures price of light oil delivered by July decreased 2.4 dollars to 97.7 dollar per barrel and the decreasing rate was 2.4%. On May 23, Asian PX price increased 1 dollar to 1,497 dollars/ton FOB Korea and European PX price decreased 2 dollars to 1,546 dollars/ton FOB Rotterdam.

 

PTA: In abroad PTA spot market, the PTA price went weak. The practical negotiated price of Taiwan cargo was 1,210 dollars/ton and it of Korean cargo was 1,200-1,205 dollars/ton. The trading atmosphere was dull. In domestic market, PTA price dropped a little and the sellers are reluctant to sell. The practical negotiated price was around 9,600-9,650 Yuan/ton. The business atmosphere was also normal and the practical negotiation was rare.

 

MEG: The buying offering is around 1120 dollars/ton or lowers in the abroad MEG market today. The negotiated price after protective tariff was 1,120-1,125 dollars/ton CFR price and with L/C 90 days for sight. The negotiated price in East China- home trade market was around 8,700-8,730 Yuan/ton. The trading atmosphere was normal.

 

Downstream Market: The polyester bottle chips price is still steady in abroad market today. The practical negotiated price quoted by domestic bottle chips manufacturers is around 1,580-1,600 dollars/ton, but the real trade is rare. The semi-dull chips Market is still weak in Jiangsu-Zhejiang area. The leading negotiated price is 11,700 Yuan/ton (by cash) and the real trade is normal. The PSF price slightly decreased in East China. Among these, the quotation of 1.4 D*38 mm direct spinning PSF adjusts to 12,600-12,700 Yuan/ton.