The polyester yarn price continues to be weak in Jiangsu market, many manufacturers decreased the quotations. A local direct spinning manufacturer keep decreased the quotations of FDY products by 300-500 Yuan/ton, DTY products by 300 Yuan/ton and POY products by 200 Yuan/ton. Now they quoted FDY 50D/24F for 16,600 Yuan/ton (6-month acceptance). Another manufacturer decreased their products by 100-200 Yuan/ton and quoted semi-dull FDY 50D/48F for 16,300 Yuan/ton and light FDY 40D/24F for 16,700 Yuan/ton by cash. The polyester yarn price decreased in Taicang market. A local manufacturer reported that some of their POY products decreased 100-200 Yuan/ton. Now they quoted POY 150D/144F for 14,600 Yuan/ton by cash.
The polyester yarn price tends to be weak in Zhejiang market. A leading manufacture in Xiao Shan decreased the products by 100-200 Yuan/ton. Now they quoted DTY 150D/144F for 16,100 Yuan/ton and FDY 75D/36F for 15,000 Yuan/ton. Another POY manufacturer stabilized the quotations and quoted POY 150D/144F for 14,400 Yuan/ton by cash. The polyester price keeps steady in Tong Xiang market. Local manufacturers keep the quotations unchanged. Now one of them quoted POY 75D/72F for 16,350 Yuan/ton and 150D/144F for 14,750 Yuan/ton. Manufacturers reported that yesterday’s production-marketing was around 95% and the stock pressure was low.
Due to the uptrend USD, decreasing demand and the news that OPEC may increase the capacities, large scale of sell order happened in International Oil Market. The oil price dramatically dropped on May 5. Ended by the close, in NYMEX, the futures price of light crude oil delivered by June slumped 9.17 dollars to 99.80 dollars per barrel; the increasing rate was 8.39%. This is the first mark that the NY oil price has ever broken 100 dollars per barrel since this March. Yesterday, Asian PX price dropped 17 dollars to 1,556 dollars/ton FOB Korea and European PX price dropped 10 dollars to 1,640 dollars/ton FOB Rotterdam. Influenced by this, the polyester yarn price successionally decreased in Jiangsu-Zhejiang market. The downstream market is mainly straddling and the buying offers are rare. It is predicted that the polyester yarn price will continue to go weak.
