CCF Price
POY75/72F 16500-16900
POY150D/48F 14500-14800
FDY68D/24F 17300-17600
FDY150D/96F 14500-14900
DTY75D/72F 19400-20300
DTY150D/48F 16000-16400
Zhejiang
Affected by high Feb contract settlement of polyester raw materials, most Zhejiang plants lifted offers up by 100-200 with some higher by 300yuan/mt. Other plants released stable offers temporarily or cancelled discounts. A few plants revised offers up in the afternoon. Sales warmed up significantly and sales ratio rebounded to generally 100-200%.
Jiangsu
Jiangsu plants also revised offers up widely. One Shengze direct spinner lifted DTY and some FDY varieties up 100, POY150/144 up 100 to 15900yuan/mt. Some plants cancelled discounts in the morning then revised offers up 100-200yuan/mt in the afternoon. Sales were favorable.
PFY sales ratio in Zhejiang and Jiangsu rebounded apparently to 150-200% with higher ones at 300%. Downstream textile plants purchased feedstock to replenish stocks and provided certain supports to PFY market.
Fujian
The majority of Fujian plants gave relatively stable offers today. Major plants offered POY, FDY and DTY75/72 at 17100, 17700-17900 and 21400-21700yuan/mt stably. The sales ratio in most plants reached 100-200% with higher ones at 300%. But inventory in major plants lingered high around 15 days and labor recruitment and lack of offtake still weighed on downstream market. Market confidence is not well stabilized and PFY prices are expected to keep stable in general.
Downstream Operation
Downstream plants gradually resumed production. Currently, run rates in Xiaoshan/Shaoxing circular knitting plants rebounded a bit to 30% and O/R in Shengze region increased to 70% with O/R of Haining/Wujiang weavers at about 80%. O/R of Fujian looms was at 40-50% with Guangdong looms at 20-30%.
($1=CNY 6.58)
source:CCFGroup
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