July 18th, 2011 Daily Review on Polyester Prices

Upstream market: Last Friday, the futures price of New York crude oil closed up to 97.24 dollars. PX price also surged. Asian PX price increased to 1457 dollars.

PTA: Last weekend, although PTA futures continued to increase, the straddle attitude of the insiders in the spot market strengthened and the sellers were reluctant to sell, so the price stabilized and increased slightly. As for the overseas market, the shipping offering is around 1180-1185 dollars/ton.

MEG: MEG market followed the adjusting and increasing tendency. Sellers in domestic market quoted around 9150-9220 Yuan/ton and the practical negotiated price is around 9100 Yuan/ton. The price surged in overseas market and became mixed up. The cargo buyers’inquiring price is around 1175-1180 dollars/ton and the tariff protective price is slightly lower.

Downstream Market: Influenced by the increased feedstock prices and the supply shortage, the polyester bottle chips price in the overseas market continues to increase. The quotation of domestic manufacturers increased to 1590-1610 dollars/ton (FOB main ports in China) and the downstream bidding price is around 1570-1580 dollars/ton. The practical negotiated price is adjusting and around 1590-1600 dollars/ton (FOB main ports in China). The trading atmosphere is good, but the real negotiation is rare.