June 28th, 2011 Daily Review on Polyester Prices

On upstream:

Yesterday, in NYMEX, the Aug delivery light crude oil futures price dropped 55 cents to $90.61 per barrel, the drop amount is 0.6%. Asian PX price dropped $14 to $1396/t, FOB Korea; European PX price dropped $5 to $1425/t, FOB Rotterdam.

PTA/MEG:

PTA quotation out abroad continue downward, suppliers quoted Taiwan ship loaded cargo at $1160-1170/t, Korean goods was quoted at $1150-1155/t. PTA quotation in China slumped, suppliers offer the price 9100CNY/t, but market trade atmosphere is still slack and real deal is few. MEG quotation in eastern China market is around 9400-9450CNY/t, and quotation out abroad was kept around $1245-1250/t.

On downstream:

Today, poly bottle chips market is cold, quotation in China was at 12400CNY/t for cash take. Semi-bright poly chips price is mainly stable, the mainstream quotation is at 11850-12050CNY/t (cash take/acceptance), the market purchase ability is weak.

Poly staple fiber quotation in eastern China market dropped slightly, of which, the 1.4D*38mm direct spinning poly staple fiber market quoted its mainstream down to 12800-12900CNY/t. Poly fiber price in China is mostly marked down, the drop amount is generally around 100-200CNY/t. Now the mainstream plants quoted FDY50D/48F cash take price at 16400CNY/t.