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PSF market prices struggling to stay above water
12
Jun '09
Domestic PSF market is still in a downturn with production and marketing activities operating at low rates as business volumes are small. Though PSF prices have fallen, downstream demand is still poor.

Only a few procurements at low cost are seen in the market, as factories maintain low inventory level of raw materials. International crude oil prices are continuing their rise and have touched US $70, for the first time in 2009.

PTA market is slightly active due to the impact of rising oil prices and market turnover has increased, PTA offers in domestic market are standing at 6800-6850 Yuan per ton, down 200 Yuan from the previous week, but the price indicates a sign of bottoming out.

MEG market is seeing a slight rebound as market inquires increase with offers in domestic market quoting at 4550-4600 Yuan per ton, and offers in overseas market are at about US $550 per ton.

At present, June PET bid from Sinopec has fallen by 400 Yuan per ton, price for semi-dull chips is 8200 Yuan per ton, price of bright chips is 8300 Yuan per ton, price for chips used in industrial filament is 8300 Yuan per ton and price for full-dull chips is 9,000 Yuan per ton.

Transaction price of polyester chips has increased to 7700-7800 Yuan per ton due to the impact of higher oil price. At present, quotation of Beijing branch of Sinopec has reduced the price of the same by 200 Yuan to 8800 Yuan per ton.

Market price for polyester staple fiber 1.4D is in the range of 8300-8500 Yuan per ton (cash or acceptance), down 300 Yuan per ton from the previous week.

Fibre2fashion News Desk - China

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