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Chinese polyester market round-up
21
Jun '10
In the previous week, domestic polyester filament market steadily bottomed out and market price basically ended declining trend as sales rebounded and trading conditions improved. POY market was most active among various varieties.

DTY market continued to be steady, price remained unchanged. At present, operational rate of polyester filament enterprises has declined, stocks have reduced. The main reasons lie in raw materials market. Recently, prices of international crude oil have continued to rebound.

New York futures price has increased to above US $76 per barrel; improvement of crude oil market has brought a market rebound in polyester industry chain. PX market prices increased slightly, market offers were slightly over US $900.

Market sentiment of PTA spot was good, market offers increased; offers for domestic supply were around 7,100 Yuan / ton, negotiating level for overseas supply was at US $860/ ton.

MEG market sentiment was as usual, prices and trade volume weakened, negotiating level for domestic supply was at 5900 Yuan / ton, and offers for overseas supply were US $705 / ton.

Pre-offers made by Sinopec Group for polyester chips of June contracts: semi-dull chips at 9500 Yuan / ton, bright chips and industrial yarn chips at 9600 Yuan / ton, film-class chips at 9650 Yuan / ton, dull-class chips at 10,300 Yuan / ton.

Transactions in polyester chips market greatly enlarged, market prices rebounded back to above 9,000 Yuan, quotation in mainstream market was around 9,150 Yuan/ ton.

Fibre2fashion News Desk - China

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