Production-Marketing Is Still On Holiday, The Index Performs Ordinary

--Feb. 11, Commerce Department China, Comment on Shengze Index

On Feb.11, according to the data monitor of Commerce Department China-Shengze Silk and Chemical Fiber Index, the index continued to have both ups and downs tendency. The overall Index kept weak, and closed at 97.98, which dropped 0.04 compared with last trading day. Among all the indexes, the chemical fabrics’ price index kept dropping fatigue since the middle of January, which fell back 0.05 compared with last trading day and closed at 96.51. However, the chemical fiber index kept rebounding, and closed at 101.47 which increased 0.06 compared with last trading day.

The following graph is the index of chemical fiber products

A.     See from the chemical fabrics price

On Feb.11^th, the chemical fabrics’ price index continues to be fatigue since the middle of January, and closed at 96.51, which dropped 0.05 compared with last trading day. See from the overall selling situation of Shengze Textile Market; because the Spring Festival holidays were just over, and the market did not open for long, and the opening rate is only about 50%; besides, the operating rate of the dying and finishing factories is low. Therefore, the fabrics’ marketing has not entered the busy season and the market orders are little.

The following graph shows the chemical fiber’s tendency

A.     See from the raw material price

On Feb. 11^th, the chemical fiber index became rebounding instead of dropping, which closed at 101.47 and increased 0.06 compared with last trading day. See from the upstream raw material market, the oil price in New York Market slightly rebounded on Feb. 10^th, while it became dropping in London Market. Ended by the close, the light crude oil futures increased 2 cents at COMEX, and closed at 86.37 dollars/drum; and its price dropped 95 cents in London Market, and closed at 100.87 dollars/drum. The PTA spot market prices had some increase the very day. Among these, the East China inner market price rose, and the hold-goods suppliers’ offerings sharply increased 600 Yuan/ton to around 11800-11900 Yuan/ton, and the practical negotiated price regulated to around 11, 750 Yuan/ton. The PTA price in the outskirt market also increased. The offering of Taiwan goods increased to 1, 470 dollars/ton and the Korean goods to 1, 460 dollars/ton.

If we take a look at the chemical raw material market, the polyester yarn was mainly stable in Shengze, China, while some individual manufacturers raised their quotations. The overall sales was around 50%. A melt spinning factory reported 100-300 Yuan/ton unequal increase of several products of semi-light FDY. Another direct spinning factory’s quotation kept steady. They quoted FDY 50D/48F for 19, 600 Yuan/ton (6 months acceptance). The other manufacturer’s quotation remained unchanged, and the spot exchange offering of FDY 50D/48F was 18, 800 Yuan/ton. Besides, the polyester yarn price was steadily increasing in Xiao-Shao Market, China. One mainstream manufacturer reported a 100-Yuan/ton common increase, who quoted FDY 68D/24F for 17, 700 Yuan/ton, FDY 150D/96F 14, 900 Yuan/ton, DTY 150D/48F 16, 200 Yuan/ton, and light-web DTY 75D/72F for 20, 200 Yuan/ton.