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Chinese polyester raw material prices under adjustment
Mar '12
In the past week, Chinese raw material prices in the polyester value chain were under adjustment mode. In particular, polyester filament market sank into deadlock again.

Market quotations from enterprises were struggling to maintain prices. Transactions in the market have actually declined.

Recently global oil market prices have declined and current price of New York oil futures is around US $104 / barrel.

PX market is adjusting under the influence of crude oil market, trade volume in the market is relatively stable and Asian market price is around US $1680 / ton.

PTA market too is under a vulnerable adjustment, market trend is uncertain. Prices in Chinese market were around 8,950 Yuan / ton and for overseas cargo around $1190 / ton.

MEG market too continues to be under adjustment. Mainstream negotiation in the market was around 8,000 Yuan / ton and for overseas cargo at about $1080 / ton.

Polyester chip market is covered with wait-and-see atmosphere and mainstream discussion under cash payment is about 10,800 Yuan / ton

Fibre2fashion News Desk - China

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