Polyester Staple Fiber Market Morning Express (Nov 16, 2010)

Cotton and polyester feedstock slipped yesterday, while PSF plants mostly suspended offers due to large amount of presales. Sinopec adjusted nomination to 19200yuan/mt.

This morning, some private enterprises begin to place offers. Jiangyin Huahong offers at 19500yuan/mt. Zhejiang Yuandong offers at 19510yuan/mt by cash, delivered. Jiangsu Jinxue continues to lower quotation, offering at 16500yuan/mt.

Transactions maintain weak recently. Downstream enquires are scant. Some traders sell profitable cargoes at low levels. But actual transactions are rarely heard.


$1=CNY6.64

source:CCFGroup.com