| |
Polyester Market Summary (Mar 1-15,2011) |
|
2011-3-17
● The decline of PTA spot prices was limited in the first half of March under the expectation of tight supply despite of the impact from debt crisis in Europe, sliding global commodity market and domestic tighten policies. Meanwhile, the soaring PX prices in Asia after the earthquake in Japan also support the PTA market. MEG market also slightly fell from high in line with overall correction of commodity market. But the expected supply tightness in the second half of this year also bolstered the market.
● PET fiber chip consolidated at a high level in H1 March. As feedstock weakened somewhat, fiber chip plants suffered smaller losses on hand-to-mouth basis. But looking-on sentiment remained heavy in downstream PFY markets and market confidence was low, thus fiber chip sales were plain.
● Though raw materials provided firm supports, downstream buyers kept inactive to purchase PFY and sales maintained basically flat. Some downstream regions announced power ration but O/R inched up. Lack of upward momentum, PFY market may continue a correction period.
● In H1 Mar, direct-spun PSF gradually stabilized early but it slightly softened later, with slack sales. PSF plants’ inventory enhanced and discounts enlarged.
● PET bottle chip market was basically stable in the first half of March. In domestic market, prices edged up slightly at first and then softened due to fluctuating PTA futures. Trades were moderate. In comparison, export market was better, with prices up $20-30/mt supported by peak season demand. Transactions were not bad.
Source:CCFGroup
|
|
|
|
|
浙公網安33010602010414
