May 5, 2011- Today’s Polyester Yarn Price Keeps Going Weak in Jiangsu-Zhejiang Market

Today’s polyester price is still consolidating in Jiangsu market, and some of the manufacturers decreased the quotations. Today a full-dull products manufacturer decreased DTY products by 200-300 Yuan/ton, FDY products decreased by 200-400 Yuan/ton and POY products decreased by 200 Yuan/ton generally. Now they quoted FDY 68D/24F for 18,000 Yuan/ton, but the acceptance quotation adjusts to 17,600 Yuan/ton with 6-month acceptance and 17,800 Yuan/ton with 3-month acceptance. The other manufacturer didn’t change the quotation and quoted light FDY 40D/24F for 17,500 Yuan/ton by cash. The overall polyester price is stable in Taicang market, only few products decreased by 100 Yuan/ton. Now a local mainstream manufacturer quoted POY 75D/72F for 16,700 Yuan/ton and POY 150D/144F for 15,100 Yuan/ton.

Today’s polyester price in Zhejiang market tends to be weak. A local manufacturer in Xiao Shan decreased the quotations as the following form. Now they quoted DTY 150D/144F micro-web for 16,200 Yuan/ton and FDY 75D/36F for 15,100 Yuan/ton.

Another manufacture in Xiao Shan decreased FDY products by 100 Yuan/ton generally. Now they quoted FDY 150D/96F for 14,300 Yuan/ton. One local POY manufacturer quoted POY 150D/144F for 14,400 Yuan/ton. A mainstream polyester yarn manufacturer in Shao Xing decreased the price of extra-fine denier FDY products for 100 Yuan/ton and quoted semi-dull FDY 55D/24F for 15,810 Yuan/ton and light FDY 50D/36F for 16,810 Yuan/ton. The polyester yarn price keeps stable in Tong Xiang market. The local manufacturers unchanged the quotations. Now one of them quoted POY 75D/72F for 16,350 Yuan/ton and POY 150D/144F for 14,750 Yuan/ton.

The international oil price continued to fall back. In NYMEX, the futures price of light crude oil delivered by June decreased 1.81dollars to 109.24 dollars per barrel and its decreasing rate was 1.6%, a new low since April 19. In London ICE- EUREX, the futures price of North Sea Brent Oil delivered by June decreased 1.29 dollars to 121.6 dollars per barrel and the decreasing rate was 1.1%. The polyester material price is still weakly consolidating. The straddle attitude is strong in the downstream market. The purchasing is still in accordance with the demand and it’s predicted that the polyester price will continue to be weak.