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Polyester chip market rises
Feb '11
Recently, the international crude oil futures market is maintaining a correction trend, price fluctuation is small and now stands at US $86 at present and market sentiment is moderate.

Recent PX market between February 7 and 11 faired better, current price level remained at $1,600 and the market price is expected to remain stable.

PTA market performed better recently in the same period, price rose further, offers for domestic PTA were 11,900 Yuan / ton and offers for overseas PTA were about $1480 / ton.

MEG market gained, offer level from traders increased, mainstream offers for domestic MEG were at 9900 Yuan / ton and offers for overseas MEG were at $1,270 / ton.

Pre-offers for February contracts of polyester chips from Sinopec Group are as follows: semi-dull chips are at 13,300 Yuan / ton, bright chips and industrial yarn grade chips are at 13,300 Yuan / ton and dull-class slices are at 14,100 Yuan / ton.

The focus of polyester chips market lifted, market mainstream quotation ranged between 13,500-13,600 Yuan / ton.

Fibre2fashion News Desk - China

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