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PET market stablizes

11
Jul '07
Recently, the overall PET market stabilized. Cationic PET price closed at 11,100 yuan per ton past week, compared with the settlement price at 11,000 yuan per ton of the previous week.

Cationic chip market is basically stable; the bid price is at 10,900 yuan per ton against cash payment and shipment made by buyers.

Semi-dull chip price in Zhejiang province and Jiangsu province is offered at 10,600 yuan per ton against delivery in March, actual trade price is stabled between 10550 -10600 yuan per ton.

Encouraged by strong sales of POY filament, low price level of chips outside contracts disappeared on July 7-8 sessions

Market price of semi-dull chips is stabled at 10,700 yuan per ton against cash payment with shipment made by buyers. Mainstream transaction price is offered at 10,600 yuan per ton against cash payment with shipment made by buyers.

Judging from the market situation of upstream raw material PTA, it is helpful to keep polyester in a stable state.

Recently PTA spot market price moves slightly higher, currently PTA trading price is basically at about 8,400 yuan per ton.

MEG market is stronger than PTA, being offered at 8,600 yuan per ton, therefore short term market of polyester chips will be mainly in a transition of firm consolidation.

Fibre2fashion, News Desk - China


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