China PET Bottle Chip Market Daily (26 Jan 2011)

Polyester feedstock firmed high on Wednesday. Some bottle chip producers maintained offers flat while some suspended offers. Transactions were covered by looking-on sentiment as many clients have started holiday. Water bottle chips were mostly offered at 13300-13500yuan/mt ex-works or delivered. Trades were dull.

In export market, suppliers kept offers at $1750-1760/mt FOB CMP while talked level was at $1730-1740/mt. A small amount was sold at $1700/mt yesterday. Suppliers were mostly reluctant sellers. In Korea, major suppliers offered at $1750-1780/mt. KP Chemical reduced running rates somewhat to 80%.

Polyester feedstock is still at high level. Besides, transactions are inactive as holiday draws close. Only a few discussions were going on based on feedstock cost.

$1=CNY6.59

source:CCFGroup