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Chinese PSF outlook contradictory
25
Feb '11
In the last few days, domestic market conditions of PSF looked more contradicted, market price was high, while market transactions were poor, and market situation looks difficult to improve.

Current market price of PSF was above 15,000 Yuan per ton, purchase situation of downstream sector was better, but procurement initiative of enterprises was not high, as high cost brought meager profits to enterprises.

Sales conditions of polyester staple fiber makers were not optimistic, business inventories increased, inventories of most enterprises could last 15 days. Such market stalemate may extend into March when operations of downstream firms recover completely.

Settlement prices of February polyester chip contract set by Sinopec Group are; semi-dull chips at 13,650 Yuan / ton, bight chips and industrial yarn chips at 13,550 Yuan / ton, dull-class chips at 14,450 Yuan / ton.

Polyester chips market has entered an adjustment phase,
mainstream price in spot market is about 13600-13700 Yuan / ton.

Settlement prices of February PSF contract from Sinopec Group are; for 1.4D half-light 15,100 Yuan / ton, 1.2D semi-dull 15,150 Yuan / ton and 1.2D bright at 16000-16050 Yuan / ton.

Real-time quotation for 1.4D semi-dull is at 15,600 Yuan / ton, 1.2D semi-dull is at 15,650 Yuan / ton, 1.2D bright is at 16600-16650 Yuan / ton

Currently, mainstream market price of polyester staple fiber 1.4D in China ranged 15000-15200 Yuan / ton (cash or acceptance), the price rose 100 Yuan/ ton compared with previous week.

Fibre2fashion News Desk - China

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