Polyester staple fibre markets were quiet across China, India and Pakistan this week, with no change in pricing reported despite sharp fall in raw material cost. However, run rates were still high and with tepid demand, fundamentals lacked strength. In China, on the back of lower PTA and plunging crude oil, the PSF market was stable to soft and some makers cut down high-end offers. However, mainstream offers and discussions for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang remained changed. In Pakistan, the polyester fibre market in Karachi was stable to soft and producers’ offers generally rolled over after the past two straight weeks of reduction of more than 10%. In India, the polyester fibre market turned soft to stable after prices were cut for remaining November. Given the sharp fall in cost, polyester fibre makers are likely to make a supplementary price cut in the coming week.
In China, offers for 1.4D direct-melt PSF rolled over at 8.95-9.15 Yuan a kg (US$1.29-1.32 a kg) in Jiangsu and Zhejiang, while the same in Fujian and Shandong were US$1.30-1.33 a kg. Export offers also declined by another US cents 5 to around US$1.20-1.23 a kg FOB China. In Pakistan, 1.4D PSF producers’ offers were steady at PakRs.184-186 a kg (US$1.37-1.38 a kg). In India, PSF offers rolled over with 1.2D at INR92.25 a kg (US$1.28 a kg) and 1.4-2D at INR91.50 a kg or US$1.27 a kg, both up US cent 1 due to stronger currency.
Nylon
In China, nylon staple fibre 1.5D prices were also down to 18.50-20.00 Yuan a kg (US$2.67-2.89 a kg, down US cents 7).
Acrylic
Acrylic staple fibre prices declined sharply after 19 weeks of steady run in China although the falls were mixed, as markdowns varied among producers. Shanghai Petrochemical announced a relatively small price cut. Supply was shrinking as the industry run rate remained at 33% during the week, as many units remained idled. Demand was withering with the considerable cut in offers, downstream yarn mills began to conclude deals slowly. As prices dropped to an expected level of end users, demand is expected to warm up in coming weeks. Prices in India and Pakistan remained unchanged at the moment, but given the sharp fall in China, these markets may follow through. Overall, with acrylonitrile cost fluctuating at lower levels and acrylic fibre prices declining rapidly, markets will focus on feedstock performance in coming weeks.
Taiwan origin 3D bright ASF tow offers remained unchanged at US$2.40-2.45 a kg while offers in China for medium-length and cotton-type acrylic fibre declined sharply to 17.50-18.00 Yuan a kg (US$2.53-2.60 a kg, down US cents 43). In Pakistan, 1.2D ASF prices were flat in Karachi market at PakRs.345 a kg (US$2.57 a kg). In India, producers’ offers for November rolled over at INR187.50-199.00 a kg (US$2.63-2.80 a kg, up US cents 2 due to strong INR).
Viscose
Viscose staple fibre markets in China saw previous low prices gradually march down further this week, following the massive transactions last week. Currently, offers for medium-end and high-end goods moved down, but fresh deals appeared to be limited. Producers were mainly engaged with fund reclamation and others had finished their business for the month. Inventory at producers were liquidated effectively, and offers may start to rally in coming weeks, seeing some mills oversell many materials. After touching the bottom, prices are expected to tick up mildly in the short run. In Pakistan and India prices remained unchanged during the week.
In China, offers in the spot markets declined on the week with 1.5D VSF at 13.74 Yuan a kg (US$1.98 a kg, down US cents 6) and 1.2D to 13.97 Yuan a kg (US$2.02 a kg, down US cents 4). In Pakistan, offers for 1.5D VSF were flat at PakRs270-273 a kg (US$2.01-2.03 a kg) in Karachi. In India, 1.2-2.0D VSF prices rolled over at INR150-200 a kg (US$2.11-2.81 a kg, up US cents 4 due to stronger INR).
