Updated: 6/19/2008 2:34:00 PM
The average domestic spot price of polyester staple fiber has rallied to 11,950 yuan per ton, which is substantially up from recent lows. The rally is very unwelcome by spinners, who are already under a severe price squeeze. The polyester staple fiber price is being pushed up by continued gains in MEG and PTA, the raw materials of polyester. These raw materials, in turn, are being driven by constant surges in crude oil prices, which slowly filter down through the refining chain. Such price gains have not yet been reflected in the price of polyester yarns.
Local polyester prices have increased from a low of 10,750 to 10,850 yuan per ton in early May to this week´s 11,950 yuan per ton. Domestic cotton prices have moved little during the same period, and imported cotton prices have declined. The rally has damaged spinners; however, domestic producers of polyester staple fiber have yet been able to increase prices to the full extent that PTA and MEG prices have increased.
Source: globecotnews
Authority in Charge: China National Textile and Apparel Council (CNTAC)
Sponsor :China Textile Information Center (CTIC)
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