The polyester price steadily decreased in Jiangsu market, some manufacturers decreased the quotations. A direct spinning manufacturer in Shengze decreased the FDY products by 300-500 Yuan/ton. Now they quoted FDY 50D/24F for 17,500 Yuan/ton (6-month acceptance). They didn’t change the quotations of DTY and POY products. Now they quoted DTY 75D/72F for 20,400 Yuan/ton (6-month acceptance) and there is still negotiated space in practical transaction. Now a local melt spinning manufacturer quoted semi-dull FDY 40D/24F for 19,200 Yuan/ton and FDY 50D/24F 17,400 Yuan/ton by cash. The other manufacturer quoted light FDY 40D/24F for 17,500 Yuan/ton and FDY 50D/48F for 17,000 Yuan/ton. The polyester prices keep steady in Taicang market and the local manufacturers stabilized the quotations. However, during the May Day holiday, some POY products still decreased by 200 Yuan/ton. Now a local manufacturer quoted POY 75D/72F for 16,850 Yuan/ton and FDY 50D/24F for 16,800 Yuan/ton by cash remittance. The manufacturers reported that the stock pressure is still great.
The polyester prices keep steady in Zhejiang market. The quotations in Xiao-Shao Market mostly keep stable. A local manufacturer in Xiao Shan quoted micro-web DTY 75D/72F for 19,200 Yuan/ton by acceptance and POY 75D/36F for 16,300 Yuan/ton by acceptance. Another POY manufacturer quoted POY 150D/144F for 14,300 Yuan/ton. A local mainstream manufacturer in Shao Xing quoted FDY 118D/96F for 14,500 Yuan/ton. The prices all keep at the same level with yesterday. The polyester price went steady in Tong Xiang market. A local manufacturer they quoted POY 75D/72F for 16,350 Yuan/ton. Yesterday’s production-marketing stayed weakly around 80%.
The international oil price went weak on May 2. The futures price of light crude oil delivered by June in COMEX highly reached 114.83 dollars per barrel and lowly dropped to 110.82 dollars per barrel. Finally, it dropped 41 cents to 113.52 dollars per barrel. In London Market, the futures price of North Sea Brent oil dropped 77 cents to 125.12 dollars per barrel and its fluctuating range is 121.67 dollars to 126.54 dollars. Besides, the upstream polyester material also became weak. During the May Day holiday, the mainstream polyester yarn manufacturers in Shengze all appropriately consolidated the quotations. A leading manufacturer even still decreased the quotations today and influenced by this, I think other manufacturers will follow them and keep decreasing their quotations.
