Last week, strong local demand pushed the average price of polyester staple fiber to yet another yearly high for 2007. The average price of polyester staple reached 11,580 yuan per ton or approximately 67.95 U.S. cents per pound. This price represented a 550 yuan per ton gain from the previous week when prices averaged 11,030 yuan per ton or the equivalent of 65.04 U.S. cents per pound. Prices have now rallied extensively off the 2007 low of the equivalent of 61.77 U.S. cents per pound.
