The Comment on Polyester Prices on May 5th

 

 

Upstream Market: On May 4, international oil price continued to fall back. In COMEX, the futures price of light crude oil delivered by June decreased 1.81dollars to 109.24 dollars per barrel and its decreasing rate was 1.63%. On May 4, Asian PX price increased 1 dollar to 1,573 dollars/ton FOB Korea and European PX price increased 10 dollars to 1,650 dollars/ton FOB Rotterdam.

 

PTA Spot goods: The domestic PTA market is weakly consolidating today; its negotiated price is around 10,450 Yuan/ton on market. The overseas PTA market continues to slide down. The quotation of Taiwan cargo decreased to 1,325 dollars/ton and the quotation of Korean cargo decreased to 1,325 dollars/ton. The straddle attitude is strong as well.

 

MEG: The MEG price is adjusting today. The offering price in East China domestic market is around 8,750 Yuan/ton and its mainstream negotiated price is 8,650 Yuan/ton. The leading quotation of ship-loaded cargo in the exporting market decreased to 1,130 dollars/ton. Today’s trade is sluggish.

 

Downstream Market: The polyester market continues to be weak today. The mainstream negotiated price of East China bottle chips decreased to 13,000 Yuan/ton without delivery. The cash quotation of the semi-dull chips lowly reached 12,750 Yuan/ton in Jiangsu-Zhejiang market. The PSF price is still weak in East China market. Among these, the quotation of 1.4D*38mm direct spinning PSF slightly decreased to 13,400 Yuan/ton up and down. The polyester yarn price is still weak in Jiangsu-Zhejiang market and the decreasing trend of the manufacturers cannot be stopped. The sales volume in the market is as usual and the production-marketing of the mainstream manufacturers is around 70-90%.