Polyester Market Awaiting Spinning Mills To Resume Normalcy

0, 0


PTA market in Asia resisted any price drop during first half of February backed by strong feedstock costs. However, the pressure on the conversion cannot be underestimated. In China, the spread between PTA spots and futures got stronger on the either side of the long New Year holidays. Asian PTA markers were up US$ 5-10 on the fortnight with CFR China at US$ 770 772 per metric ton and offer from Taiwan/Korea at US$ 780-790 per metric ton. In Europe, February PTA contract price was up Euro10 at Euro 670-704 per metric ton alongside paraxylene.


MEG markets in Asia had a good start after Lunar New Year holidays and prices fluctuated upward in the last fortnight. In China, MEG prices rose immediately after markets resumed while forward-month goods were slightly higher than spot values. Spot MEG prices were flat with CFR China at US$1,020-1,025 per metric ton and CFR South East Asia to US$1,032-1,037 per metric ton. In India, CIF values gained by US$5 to reach around US$1,025 per metric ton. European MEG sentiment was bearish as the market approached March. Bulk prices were assessed at Euro20-25 at Euro 800-830 metric ton CIF NWE.

Also Read  Reliance To Take Over JBF Industries With CFM ARC

PET Chips

Fibre grade polyester chip markets in Asia moved in a narrow range after the Lunar New Year holidays with prices changing either sides. Semi dull chip markets were under narrow fluctuation, with sporadic offers inching up amid passable trading atmosphere while super bright chip market mirrored the trend in semi dull. Asian benchmark, SD continuous spinning fibre grade chip offers of Taiwan/Korea origin were unchanged at US$1,250-1,300 per metric ton FOB.  In China, semi dull chip offers rolled over at 7,950-8,100 Yuan metric ton (US$1,250-1,275 per metric ton) while super bright chip offers were at 7,850-8,100 Yuan metric ton (US$1,240-1,275 per metric ton).


PSF markets were quiet in Asia and prices mostly rolled over across China and India. In China, post Spring Festival, crude oil and upstream feedstock moved up but PSF market sentiment was quiet as downstream spinning mills were yet to resume normal operation and were on the sidelines. In Jiangsu and Zhejiang, offers for 1.4D direct-melt PSF rolled over at US$1.42-1.45 per kg, while the same in Fujian and Shandong were at US$1.42-1.48 per kg (converted from RMB). In India, offers were raised on rising cost. 1.4D were up INR2 at INR95.25 per kg or US$1.47 a kg and 1.2D at INR96.50 per kg (US$1.52 per kg). Spun polyester yarn markets were stable in China with 32s yarn offers unchanged amid moderate transaction. Downstream spinning mills stood on the sidelines after converters resumes normal operation. In China, 32s polyester yarn offers rolled over at 13.90 Yuan per kg (US$2.19 per kg) while 60s were at 15.70 Yuan per kg (US$2.47 per kg). Export offers for 30s however, retreated US cents 5 to US$2.55 per kg FOB. In India, polyester yarn prices were raised to partially pass-on the hike in PSF prices last fortnight. Support from export markets was also firm as shipment in January were slightly down but unit prices realization was up in year on year comparison. 30s polyester hosiery yarn prices (made from recycled PSF) were raised INR1 to INR133 per kg (US$$2.05 per kg) in Ludhiana market while 30s polyester hosiery yarn prices (virgin PSF) were around INR182 per kg (US$ 2.80 per kg)

Also Read  Reliance To Take Over JBF Industries With CFM ARC


PFY markets in China were covered by holiday atmosphere although producers generally restarted units, but downstream mills were yet to resume. As a result, trading atmosphere was thin. Offers for DTYs, FDYs and POYs remained unchanged on the fortnight. POY offers for 75/72 were at US$1.46-1.48 a kg in Shengze and 75/36 to US$1.45-1.46 a kg. In India, POY prices were hiked marginally as feedstock price have strengthened. Demand for polyester filament yarns was passable. 130/34 POY was offered at INR104 per kg (or US$1.57 per kg) and 115/108 POY priced at INR110 per kg (or US$1.70 per kg).

Also Read  Reliance To Take Over JBF Industries With CFM ARC


Please enter your comment!
Please enter your name here