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Sinopec announces settlement price of PSF August contracts
Aug '12
The settlement price of August contracts for polyester staple fibre (PSF), as announced by Sinopec Group, is 10,950 Yuan/ton for 1.4 D semi-dull variety, and 11,450 Yuan/ton for 1.2D bright PSF.
The company has also announced pre-offers for September contract. The pre-offer price of 1.4D semi-dull PSF is 11,200 Yuan/ton, while the price of 1.2D bright is 11,700 Yuan/ton.
According to the weekly market guide price, released by Sinopec, the price of 1.4D semi-dull PSF is 11,100 Yuan/ton, while that of 1.2D semi-dull and 1.2D bright is 11,100 Yuan/ton and 11,600 Yuan/ton, respectively.
At present, the domestic market price of 1.4D PSF is in the range of 10,800-10,950 Yuan/ton, which is about 200 Yuan/ton higher than prices prevailing a week earlier.
Along with the settlement price for PSF, Sinopec Group has also announced its settlement price of August contract for polyester chips. The price of dull polyester chips is 10,850 Yuan/ton, whereas the price of semi-dull chips, bright chips and industrial yarn grade chips is 10,050 Yuan/ton. 
The pre-offer price announced by Sinopec Group for September contract is 10,300 Yuan/ton for semi-dull polyester chips, bright chips and industrial yarn grade chips, and 11,100 Yuan/ton for dull chips.
Currently, polyester chip market in China is light and negotiations in mainstream market are around price level of 10,100 Yuan/ton in terms of cash payment.

Fibre2fashion News Desk - China

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