June 22th, 2011 Daily Review on Polyester Prices

 

Upstream Market: On June 20, Asian PX price adjusted to 1,096 dollars/ton CFR Southeast Asia and the CFR Northeast Asia price adjusted to 1,081 dollars/ton. Ended by 11 am, June 21, the futures price of WTI crude oil delivered by July was quoted 93.45 dollars per barrel, increased 0.19 dollars and that delivered by August was quoted 93.86 dollars per barrel, increased 0.23 dollars.

 

PTA: At the beginning of this week, PTA market shows a deadlock but adjusting tendency. The shipping intention in the domestic market is around 9450-9500 Yuan/ton and the practical negotiated price is around 9400-9450 Yuan/ton. In the abroad market, the shipping offering of Taiwan cargo is around 1195 dollars/ton. The main force contract of PTA futures, TA1109 decreased 76 points, closed at 9284 and settled at 9318.

 

MEG: At the beginning of this week, MEG market shows a consolidating trend. Some domestic supplier insists to offer the price around 9500 Yuan/ton. In the abroad market, the suppliers’ quotation stays at 1250-1260 dollars/ton.

 

Downstream Market: Today’s abroad polyester bottle chips market is weak. Domestic suppliers quoted the bottle chips for 1620-1630 dollars/ton and the practical negotiated price is around 1600-1610 dollars/ton. The trading atmosphere is dull and the real negotiation is rare. The quoting focus of the South China PSF market dropped a little. 1.4D*38mm direct spinning PSF adjusted to 13100-13300 Yuan/ton by cash and with delivery.