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2011-11-28
PSF price was weak and adjusting this week. The supportive effect from the upstream market is feeble. Buyers are lack of consuming confidence in the downstream yarn market. The overall trades are still not ideal in the market. This Friday, Sinopec announced the settlement price of PSF November contract; among which, 1.4D semi-dull PSF was settled at 11100 Yuan. In East China, the quotation of 1.4D direct spinning PSF dropped to 10600-10700 Yuan/ton, which lost 200 Yuan/ton compared with the price in last weekend, down 1.83%. In South China, 1.4D PSF was quoted 10700-10800 Yuan/ton by cash and with delivery, which was 200 Yuan/ton less than the price of last weekend.
In the feedstocks market, he practical discussions of PTA spot goods are around 8150 Yuan/ton in domestic market, which increased 100 Yuan/ton compared with the price last Friday. The futures price of crude oil decreased to 96.17 dollars by the close on 23rd.
In the downstream yarn market, pure polyester yarn market showed steady but decreasing tendency. Some of the products had decrease in prices; among which, 32S 100% polyester yarn dropped to 14300 Yuan/ton in the market. The manufacturers had few orders and the inventories increased to a large quantity, so the consuming interest was low.
Judge from the present PSF market, although the producing load decreased for the PSF manufacturers and the stock pressure turned better comparatively; the demand in PSF market never got to a fine situation routinely as the consumption was still weak in the downstream yarn market. In a short term, PSF market will still keep in deadlock as the whole market is still unstable.
Source:168tex.com
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