Weekly Report: PSF (Aug.22- Aug.26)

This week the polyester spun yarn－13350 RMB/T; In south China market, the offer is around 13350－13450 RMB/T. market is mainly stable. With the settlement price of raw materials have been announced, as well as the cost support of raw materials, and the cotton market is warmed, the polyester spun yarn manufacturers actively increase the price. But the downstream market demand is rare, so the price increase is not large. Specifically, in east China market, the mainstream offer of 1.4D direct spinning polyester spun yarn is around 13250

 

See from the upstream raw material market, the international oil price is choppy. At the close of Aug.25^th, the price of COMEX light crude oil futures for October delivery offer 85.30 dollars per barrel. The close price of Brent Oil futures in London market for October delivery was 110.62 dollars per barrel. The PX price is unstable, Asia PX raised 8 dollars to 1638 dollars per ton FOB Korea; but Europe PX sank 9 dollars to 1595 dollars per ton FOB Rotterdam.

 

Upstream PTA spot goods market mainly advanced this week. By the end of this Friday, the mainstream offer of domestic market raised 100 RMB to 10000 RMB/T which compared with last Friday. The practical price of Taiwan cargo offers 1290 USD/T, and Korea cargo offers 1270 USD/T.

 

See from the downstream yarn market, this week the 100% polyester yarn market is choppy, a part of products is down. At present, 45S polyester yarn offers 18200 RMB/T and the sales are better than other products. The yarn manufacturers face funds and stock pressure at the same time and the phenomenon of limiting production is more.

 

See from the current polyester spun yarn market, although the downstream raw material market is still weak, under the support of cost of raw materials, the increase of cotton price and low store goods of polyester spun yarn manufacturers, the polyester spun yarn market is expected to be stable next week, investors need to concern about the trend of cotton market and the downstream market demand.