August 12th, 2011 Daily Review on Polyester Prices

Upstream Market: Ended by the close on August 11, in NYMEX, the futures price of light crude oil delivered by September increased 2.83 dollars to 85.79 dollars/bbl, up 3.41%. In London Market, the North Sea Brent oil delivered by September increased 1.34 dollars to 108.02 dollars/bbl/, up 1.26%.

PTA: The PTA price slightly increased in overseas market. The suppliers quoted Taiwan cargo for 1260 dollars/ton, the downstream bidding price is around 1240 dollars/ton and the practical discussion is around 1250 dollars/ton. The quotation of Korean cargo is around 1230-1235 dollars/ton.

MEG: The MEG price slightly increased on market today. The selling offering is around 9600-9650 Yuan/ton in domestic market and the inquiry is around 9500 Yuan/ton. In overseas market, MEG price play firmly. Some of the cargo suppliers quoted 1260-1270 dollars/ton.

PET Bottle Chips: The polyester bottle chips price is weak in overseas market. The quotation of domestic manufacturers is around 1680-1700 dollars/ton and the downstream bidding price is around 1660 dollars/ton. The practical discussions are around 1680 dollars/ton. The trading atmosphere is weak and real negotiations are rare.

PFY: The polyester yarn price continues to be in deadlock in Jiangsu Market. The quotations keep steady in Shengze market. A local direct spinning manufacturer decreased some of the products by 100 Yuan/ton and quoted FDY 50D/24F for 17600 Yuan/ton. The polyester yarn price goes down in Zhejiang Market. A leading manufacturer in Xiao Shan generally decreased the DTY products by 100 Yuan/ton and quoted DTY 300D/96F for 15000 Yuan/ton.