Weekly Report: PSF (Aug.15- Aug.19)

一．Market Review by Region

 

Region	Present price（RMB/T）	Change rate（RMB/T）
East China	13100－13200	+100
South China	13200－13300	+100
North China	13200－13300	+100
Southwest China	13100－13200	+100

 

二、Upstream raw material market

In the eyes of upstream raw material market, this week the international oil is at a wide range of price, but mainly goes down. Earlier this week, with the strong U.S. stock market, New York crude oil futures prices raise 2.9%; but as a series of weak economic data, the investors are more anxious about the U.S. economy, Aug.18th the international oil price goes down badly. At the close of Aug.18th the price of COMEX light crude oil futures for September delivery sank 3.34 dollars to 82.38 dollars per barrel. The close price of Brent Oil futures in London market for October delivery was 106.99 dollars per barrel.

 

What’s more, under the influence of tight supply and China-Dalian Fujia PX event, this week the PX market goes up a lot. The price of Asia PX raised 92 dollars to 1630 dollars per ton FOB Korea; Europe PX raised 74 dollars to 1604 dollars per ton FOB Rotterdam.

 

Upstream PTA spot goods market advanced steadily this week. Compared with last Friday, the mainstream offer of domestic market raised 200 RMB to 9990 RMB/T until this Friday. The practical price of Taiwan cargo offers 1270 USD/T, and Korea cargo offers 1255 USD/T.

 

三、Downstream yarn market

View from the downstream yarn market, yarn manufacturers face funds and stock pressure. This week the polyester yarn market is consolidated. The 32S polyester yarn offers 17400 RMB/T; 45S polyester yarn offers 19100 RMB/T.

 

四、Device trend

View from the recent polyester spun yarn device trend, it is reported that a 120000 tons polyester device in Nantong which shut-down as the fault in July was restarted, and start to sell products officially. Its products include polyester spun yarn and polyester chips. A 150000 tons direct spinning polyester spun yarn device in Henan advanced the repair plan to the end of August, and the repair tine is about 45 days. A 200000 tons polyester device in Fujian starts to shut-down for repairing on Aug.12th, and the repair time is about 2-3 weeks. The device is mainly produced POY, FDY and polyester staple fiber.

 

五、After-market forecast

View from the currentpolyester spun yarn next week. market, although the upstream raw material market goes up and there is the cost support of upstream raw materials, the sales of downstream market is not ideal, wait-and-see atmosphere is thick. Therefore, the polyester spun yarn market will keep stable