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POY prices in correction mode after rally
02
Jul '10
The domestic Chinese POY market basically ended a market rally and entered adjustment for the time being in the current week.

Prices in POY market increased by more than 1000 Yuan since the previous week, as purchase from downstream processing enterprises were active.

Consumption of weaving factories was also good, but after a wave of heavy purchases, the market temporarily calmed down, production and sales rate of enterprises rapidly declined.

The latest settlement from major POY companies continues to edge up by as high as 500 Yuan / ton. Settlement price of POY100D/36F is reported at 11,550 Yuan / ton, pre-offer is at 11,600 Yuan / ton.

Settlement price of POY150D/48F is at 11,250 Yuan / ton, pre-offer is at 11,300 Yuan / ton. POY market is expected to remain strong in the short term.

Fibre2fashion News Desk - China

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