Weekly Report: PSF (Sep.12- Sep.16)

Mainly due to the upstream raw materials cost push and strong polyester market drive. This week the polyester spun yarn market goes up steadily, the price is generally up. This week SINOPEC adjusts the September pre-collection quote of polyester spun yarn: 1.4D semi-dull polyester spun yarn quote 14000 RMB/T, up 400 RMB/T compared with previous. In east China market, the mainstream offer of 1.4D direct spinning polyester spun yarn is up to 10400－14100 RMB/T; In south China market, the offer is up 200 RMB to 14100－14200 RMB/T.

 

See from the upstream raw material market, the international oil price continues to go up. At the close of Sep.26th, the price of COMEX light crude oil futures for October delivery offer 89.40 dollars per barrel. The close price of Brent Oil futures in London market for October delivery was 115.34 dollars per barrel. The PX price is adjusted. The Asia PX sank 13 dollars to 1702 USD/T.

 

Upstream PTA spot goods market extends rising trend. By the end of this Friday, the mainstream offer of domestic market raised to 10600 RMB/T, up 50 RMB compared with last Friday. In overseas market, the practical price of Korea cargo offers 130 USD/T, up 10 USD compared with last Friday.

 

See from the downstream yarn market, this week the 100% polyester yarn market is stable, several products’ offer goes up slightly. At present, 32S polyester yarn offers 17500 RMB/T. This week the 100% polyester yarn market is flat, the sales is rare, the sales of 45S is general, market still have inventory pressure.

 

See from the current polyester spun yarn market, although the downstream market is still cautious for high price purchase, but under the upstream raw material cost boost and low stock of polyester spun yarn market, we can expect there will still be higher next week.