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PSF market displays small volatility
02
Aug '10
In the last few days, the Chinese domestic polyester staple fiber market showed a small volatility and prices stayed steady, but at the same time the market trade tried to focus on lower price.

Currently, operational rate of polyester staple fiber industry has declined, due to electric cuts enforced in Zhejiang province. However, business inventories are in the normal range, which can basically last 10 days.

Raw material procurement from downstream firms maintained a normal rhythm in an unhurried pattern of buying from hand to mouth. The release of monthly settlement price of polyester staple fiber also played a stabilizing role.

Prices of international crude oil futures rebounded modestly recently, but the price failed to strike the US $80 per barrel mark and stood at $77 per barrel.

PX market rebounded several times in the week; currently the price was close to US $900 / ton in Asia, directly supporting the price rebound of polyester raw material market.

PTA spot market was more cautious, market quotations for domestic goods were 7050-7100 Yuan / ton and talk level for overseas supply was $855 / ton.

MEG market was fair, mainstream offers for domestic goods were 5950 Yuan/ ton, while offers for overseas supply were $710 / ton.

Sinopec Group announced settlement prices of polyester chips for July contract. Price of semi-dull chips is 9300 Yuan / ton, price of bright chips and industrial filament grade slice is 9200 Yuan / ton, price of film grade chips is 9250 Yuan / ton and price of dull chips is 10,100 Yuan/ ton.

Sinopec Group also announced pre-offers of polyester chips for August contract. Price of semi-dull chips is 9300 Yuan/ ton, price of bright and industrial filament grade chips is 9300 Yuan/ ton and price of dull chips is 10100 Yuan/ ton.

Polyester chips market was mainly based on consolidation and mainstream offers were 9100-9150 Yuan / ton.

Settlement prices of polyester staple fiber for July contract of Sinopec Group. Price of 1.4D semi-dull is 9850 Yuan / ton, 1.2D semi-dull is 9900 Yuan / ton, 1.2D bright is 10450-10500 Yuan / ton (to be delivered to buyer's destination).

Pre-offers for August contract. 1.4D semi-dull is 10000 Yuan / ton, 1.2D semi-dull is 10,050 Yuan / ton and 1.2D bright is 10600-10650 Yuan / ton (to be delivered to buyer's destination).

Fibre2fashion News Desk - China

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