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Polyester Filament Yarn Market Weekly (Nov 8-12, 2010) |
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2010-11-15
| CCF Price |
| Description (Yuan/mt) |
Nov 1-5 |
Nov 8-12 |
Trend |
| Avg |
Low |
High |
Avg |
| DTY150D/48F |
14,200 |
16,900 |
19,500 |
18,740 |
↘ |
| POY150D/48F |
12,700 |
15,800 |
17,000 |
16,520 |
↘ |
| FDY68D/24F |
16,560 |
19,500 |
21,200 |
20,660 |
↘ |
| FDY150D/96F |
12,890 |
15,550 |
17,000 |
16,590 |
↘ |
| CCF Index |
| |
29-Oct |
5-Nov |
12-Nov |
Trend |
| CCF Polyester Polymerization Rate Index |
85.0 |
86.0 |
86.0 |
→ |
| CCF FDY Inventory Index (day) |
6.0 |
4.0 |
5.0 |
↗ |
| CCF DTY Inventory Index (day) |
10.5 |
7.0 |
10.0 |
↗ |
| CCF POY Inventory Index (day) |
5.0 |
3.0 |
5.0 |
↗ |
| CCF E.China Loom O/R Index |
75.0 |
75.0 |
70.0 |
↘ |
| Market Roundup |
PFY market kept a crazy uptrend early this week but later as commodity futures market dropped to limit down, PFY market followed to head down as well. PFY prices fell by about 2000-3000yuan/mt and trading sentiment softened, sales ratio down at only 20-30% on Friday. The CCF Price Index of POY, DTY and FDY150D were pegged at 17000, 19500 and 17000yuan/mt on Friday.
Excessively high PFY prices weighed heavily on downstream plants thus downstream plants largely lowered purchasing volume this week and some planed to halt production. Average sales ratio dropped to a new low of about 70% this week. According to statistics, inventory level of FDY, POY and DTY in Zhejiang and Jiangsu were at 5, 5 and 10 days respectively. Polyester Polymerization Index ruled stable at 86%. O/R of twisters stayed at 85% and in chip-spun plants stable at 80% while O/R in downstream looms dropped to 70%. Feedstock inventory in PFY plants fell down to 7-10 days. Downstram largely tended wait-and-see. Downstream twisting plants, warp weaving plants, circular knitting plants and weavers reported stable offtake currently.
Fujian market shared the same pattern on Jiangsu and Zhejiang markets, dropping after surging. Early this week, PFY prices chased upstream raw materials up rapidly and sharply but a wait-and-see attitude quickly spread and PFY sales ratio fell down apparently with mixed market prices. Generally PFY prices moved up by 1000-2000yuan/mt, comparing to last week. |
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| Market Outlook |
Run rates in downstream textile bases maintained at high levels. Operating rates of water jet looms in Shengze maintained around 75%, with 78% in the adjacent places; O/R of warp knitting plants in Wujiang, Haining ruled stable at 80%; While O/R in textile plants in Xiaoshan/Shaoxing dropped to 50%; O/R of circular/warp knitting plants in Fujian and Guangdong were at 60% due to low profits. Daily turnover in China Textile City averagely stayed at 6-7 mln meters. Generally speaking, demand kept good.
Market movement basically ran an opposite way to last week and market sentiment cooled down quickly after a crazy uptrend. Currently downstream texitle plants were quite cautious about purchasing feedstock while some traders began to sell goods actively even at lower prices. In the short term, PFY suppliers may keep offering discounts or revising offers down. PFY market is seeking for a new balance point and returning to a more rational stance. |
source:CCFGroup.com
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