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PSF market dominated by small upward trend
01
Aug '11
In the week gone by, the Chinese domestic PSF market was dominated by a small upward trend, market price went up to a certain extent, market atmosphere was warmer than its prior week.

Although resistance against transactions still existed, deal volumes increased compared to its previous week under the influence of a broad environment.

Production and sales rate of polyester staple fiber makers was flat and business inventory level lowered and a majority kept it within five days.

Business situation of downstream yarn sector has not improved and there still exist hidden trouble in the polyester staple fiber market.

International oil market is witnessing slight volatility in recent times and current price stands at about US $97.

PX market conditions have continued to rebound in recent days. Asian PX price stood around US $1550.

PTA market conditions were relatively firm. Chinese domestic market offers were at 9450-9500 Yuan / ton and negotiated price for overseas goods were around US $1,225 / ton.

MEG market was also on a strong phase, mainstream offers in domestic market were above 9500 Yuan / ton and overseas offers were above US $1,220 / ton.

Fibre2fashion News Desk - China

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