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PTA spot market prices remain strong
Jun '08
PTA spot prices remain strong at present and China fiber price index of PTA has risen 50 points to 9200. PTA, MEG prices continue to move upwards.

Domestic PTA is quoted at 9,200 yuan per ton, whereas imported PTA stands around 9,100 yuan per ton.

Semi-dull and bright polyester chip prices are still in consolidation. CDP chip price has increased, too, while the PET bottle slice rates are in correction.

Acrylic Staple 1.5 D × 38mm, acrylic top 3 D × 102mm prices are trimmed. CPL, nylon 6 slice prices look stable.

In spot market PTA imports continue to move up and some bonded offers are in the range of US $1115-1120 per ton. However, negotiated price is recorded within $1100-1110 per ton range.

East China market is growing. Since sellers seem optimistic about future trends, they are sealing their offers. While mainstream price level is at 9100-9150 yuan per ton, buyers' quotations stand at about 9050-9100 yuan per ton.

Maomin Sinopec has been forced to stop operations after the recent fire incident at No 2 Ethylene cracker, which is top unit with an annual output of 620,000 tons.

The newly added capacity of No 1 device has a glycol production capacity of 105,000 tons per year. Now, it has stopped operating temporarily.

Thus, experts anticipate major shortage in supply of these textile raw materials.

However, manufacturers are doing everything they can. While, glycol unit is expected to open within next 3-4 days, Maoming Petrochemical plans to open old cracking devices.

Fibre2fashion News Desk - China

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