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Prices across polyester value-chain post decline
28
May '10
In the past few days, domestic market of polyester staple fibers has set off on a downward trend, due to poor sentiment of raw materials market. Market sentiment is dismal and trade volumes are light.

Currently operating rates of polyester staple fiber industry are relatively stable, but sales are poor, inventories have once again started rising to the levels of more than half a month.

PX market too has significantly declined to below US $900 per ton and the market does not see an end to the fall. PTA spot market too has extended its losses.

Offers for domestic goods are around 7,050 Yuan / ton and those for overseas goods are around US $850 / ton.

MEG market continues to be weak, trade volume is light, offers for domestic goods are around 6,100 Yuan/ ton in mainstream and offers for overseas goods are around $750 / ton.

Settlement price of polyester chips for May contract announced by Sinopec Group fell by 450 Yuan / ton compared with the previous month. Price for semi-dull chips is at 9,800 Yuan / ton, price for bright chips and industrial grade chips is at 9,850 Yuan / ton, for film grade chips it is 9,900 Yuan / ton and for full-dull chips it is 10,600 Yuan / ton.

Polyester chips market appears in slight stalemate, the market is covered with strong watching sentiment, mainstream offers are around 9,000 Yuan / ton.

Settlement prices of polyester staple fiber for May contract set by Sinopec Group: 1.4D semi-dull is at 10,450 Yuan / ton; 1.2D semi-dull at 10,500 Yuan / ton, 1.2D bright at 11050-11100 Yuan / ton (to be delivered to buyer's destination)

Currently in the mainstream market, 1.4D polyester staple fiber is offered in the range of 9,600-9,900 Yuan / ton (cash or acceptance), which is down by 200 Yuan / ton compared with the previous week.

Fibre2fashion News Desk - China

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