July 14th, 2011 Daily Review on Polyester Prices

Upstream: On 13th July, in NYMEX, the Aug delivery light crude oil futures price increased 62cents to $98.05 per barrel; the increase amount is 0.6%. Asian PX price increased 25cents to $1405/t, FOB Korea; European PX price increased $12 to $1455/t, FOB Rotterdam.

PTA/MEG: PTA quotation out abroad increased, Taiwan cargo was quoted at $1170-1175/t, Korean goods was quoted at $1150-1155/t. PTA quotation in China also increased, suppliers offered the price of 9100CNY/t, and the strike price was at 9030-9050CNY/t. MEG quotation in eastern China market is around 9150CNY/t, and the negotiate price is estimated at 9100CNY/t.Semi-bright poly chip price continue to rise up, the mainstream, cash take price is quoted around 12200-12500CNY/t and 12600CNY/t for acceptance. Bright chips price is mostly stroke at 11950CNY/t.

Downstream: Poly staple fiber quotation in eastern China market still slightly downward, of which, the 1.4D*38mm direct spinning poly staple fiber was quoted at 12400-12500CNY/t.