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PET Fiber Chip Market Weekly (Dec 13-17, 2010) |
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2010-12-20
| Price |
| Contract semi-dull (Yuan/Mt) |
Oct-10 |
Nov-10 |
Dec-10 |
| Settlement |
Nomination |
Settlement |
Nomination |
Settlement |
| East China |
10,850 |
11,500 |
12,800 |
12,000 |
|
| South China |
10,950 |
11,200 |
12,850 |
12,000 |
|
| Sinopec |
10,850 |
11,200 |
12,800 |
12,000 |
|
| Hengyi |
10,850 |
11,500 |
12,800 |
12,000 |
|
| Spot Market Yuan/Mt |
Weekly Average |
Nov 29-Dec 3 |
Dec 6-10 |
Dec 13-17 |
Price Pressure |
| SD, by cash |
11,380 |
11,290 |
11,160 |
→ |
| Bright, by cash |
11,380 |
11,230 |
11,070 |
→ |
| CDP, 180 days payment |
12,680 |
12,300 |
12,110 |
→ |
| Market roundup |
PET fiber chip market remained weak this week. Buyers continued to look on and market sentiment was dull.
In earlier week, stock market and futures rebounded, but PET fiber chip did not improve obviously. Actually, as sales of polyester fiber were moderate, trading price of fiber chip declined somewhat. In Zhejiang, some small deals of SD chips were concluded at 11100-11300yuan/mt. On Friday, offers maintained at 11150-11350yuan/mt and disucussed level at 11100-11200yuan/mt. Bright chip market was also soft, with talked level at 11100-11200yuan/mt. Several small deals were closed at 10900yuan/mt by cash, ex-works. A deal of bright chips (500 tons) was closed in Jiangsu at 10850yuan/mt by cash, delivered to North Zhejiang. Several deals of bright chips, not for fiber production, were sold at 11300yuan/mt. CDP chips kept consolidating, with talked level at 11,900-12,300yuan/mt. |
| Forecast |
| As polyester market keeps consolidating recently, PET fiber chip may continue to fluctuate. Attention should be paid to feedstock, Dec PET fiber chip contract settlements and the recovery of polyester fiber market. |
| PET fiber chip plants |
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3-Dec |
10-Dec |
17-Dec |
Next Week |
| PET fiber chip inventory |
Normal |
Normal |
Normal |
→ |
| Market sentiment |
Moderate |
Moderate |
Moderate |
→ |
| PET Fiber Chip Cash Cost |
 |
| * Feedstock cost is based on the prices 25 days ago |
source:CCFGroup.com
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