June 14th, 2011 Daily Review on Polyester Prices

 

Upstream Market: June 13, in NY Commodity Exchange, the contract’s settled price of light crude oil delivered by July decreased 1.99 dollars to 97.30 dollars per barrel; the decreasing rate was 2%, a new low since May 17. June 13, Asian PX price decreased 9 dollars to 1,420 dollars FOB Korea and European PX price steadily stayed at 1,449 dollars FOB Rotterdam.

 

PTA: The PTA price in the domestic market continues to slide down today. The offering of Taiwan cargo is around 1195-1200 dollars/ton and Korean goods is quoted 1190 dollars/ton. It also decreased in home trade market and the suppliers quoted the price for 9,450-9,500 Yuan/ton, but the practical negotiation is rare.

 

MEG: Today, Asian MEG quotation for sight is around 1235 dollars/ton and the negotiated price is estimated around 1225-1230 dollars/ton CFR and L/C 90 days. The quotation in East China home trade market stays at 9,350-9,400 Yuan/ton.

 

Downstream Market: The semi-dull chips price is steady in the market. Leading manufacturers quoted 12,100-12,150 Yuan/ton by cash. In East China home trade market, the leading quotations of bottle chips are around 12,600-12,700 Yuan/ton, but the trading atmosphere was weak. Nowadays, 1.4D*38mm PSF is mainly quoted 13,000 Yuan/ton in Jiangsu-Zhejiang Area; which increased 200-300 Yuan/ton compared with previous times. At present, polyester yarn manufacturers in China are having good profits and the storage is at a low level. Therefore, it is predicted that they will still focus on the selling amount and the polyester yarn price will keep steady.