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High crude stimulates overall market activity
23
Sep '08
Due to strong rebound in international oil price on Monday, September 22, trade volume of PTA futures experienced a significant rise; spot market price also surged. On one hand, MEG prices moved up and Semi-dull and bright polyester chips followed the same trend and on the other, prices of CDP chips, PET bottle chips consolidated.

Acrylic staple fibre 1.5D × 38mm, acrylic top 3D × 102mm were stable; CPL, nylon 6 chips were slightly increased.

While most transactions were scattered in small quantities, polyester filament market remiained stable as a whole.

At present, overall polyester filament market especially the spinning factories and traders have adopted a wait-and-see attitude. The market is expected to see little change in short-term.

Yarn market was relatively stable, from sales of varieties, cotton yarn 21s and 32s were salable; rayon yarn market looked weak. Viscose / polyester yarn had very small change in both trade volume and price.

There was a demand for polyester yarn 32s, but prices of 45s and 50s declined. Individual varieties of 90/10 polyester-cotton yarns also fell.

Polyester staple fibre price lowered again on the day, market average price fell to 10,550 yuan per ton. Market experts expect that polyester yarn price would move lower further.

For further statistics click here

Fibre2fashion News Desk - China

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