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Domestic PSF price remains stable
10
Jun '08
Recently, domestic PSF market sentiment has been in a relaxed mood; market price observes stability and marketing rate of PSF enterprises drop slightly; inventories have been consumed to a certain degree.

Upstream raw materials of PTA continue to rise, showing an intention to break the 9,000 Yuan mark, calculated on current price, PSF is still in negative side. But the market seems to have strong expectation of heading upward. However, the decline in international crude oil price perhaps gives a cooling-down to the feverish raw materials market.

At present, Sinopec Group quoted its PSF price at 11,600 Yuan per ton for 1.4 D, for 1.2 D at 11,650 Yuan per ton, for 1.2 D bright at 11,800 Yuan per ton (deliver to buyer with cash payment). However, Beijing Sales Branch of Sinopec Group has increased its spot price to 11,350 Yuan per ton for 1.4 D (deliver to buyer with cash payment). The mainstream price in domestic market for PSF 1.4 D is in the range of 10950-11200 Yuan per ton (deliver to buyer for cash or acceptance), basically the same compared to the quotations in the previous week.

Fibre2fashion News Desk - China

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