Polyester

Polyester staple fibre prices edged down this week in China while they rolled over in India and Pakistan. In China, with the National Day holidays starting next week, downstream mills had limited order intakes amid notional market. Buyers adopted cautious attitude and made small volume procurements with bearish outlook. Thus, polyester fibre suppliers cut operation to reduce production. As a result, feedstock succumbed to bearish pressure. Offers for 1.4D direct-melt PSF were cut to 10.55-10.80 yuan a kg (US$1.53-1.57 a kg, down US cents 5) in Jiangsu and Zhejiang while the same in Fujian and Shandong were down US cents 5-7 at US$1.54-1.57 a kg. Export offers, were also reduced to US$1.30-1.35 a kg FOB China.

In Pakistan, transactions moved down after offers were raised early to mid-September and no firm deals were heard. 1.4D PSF producers’ offers were stable at PakRs.198-200 a kg (US$1.61-1.62 a kg).

In India, producers’ offers remained unchanged and no revision were heard for October values. 1.5D PSF offers rolled over both in INR terms with 1.2D at INR95 a kg (US$1.30 a kg) and 1.4-2D at INR93.75 a kg or US$1.29 a kg.

Nylon

In China, nylon staple fibre 1.5D prices fell at the lower end to 21-21.50 yuan a kg (US$3.05-3.13 a kg, down US cents 5).

Acrylic

Acrylic staple fibre prices rolled over in Asian markets of China, India and Pakistan this week. In China, inventory continued to shrink due to low operating rates. The overall average run rate dropped to 36-38% this week from 55% in early September, and the number is expected to stay low in October given the eroded margins. High acrylonitrile cost, which is unlikely to ease in near future, continued to assert pressure on acrylic fibre producers. Meanwhile, demand showed no sign of improvement, as downstream yarn mills were still consuming previous inventory, with no appetite for fresh raw material.

Taiwan origin 3D bright ASF tow offers were stable at US$2.50-2.60 a kg while offers in China for medium-length and cotton-type acrylic fibre were stable at 20.50-21.90 yuan a kg (US$2.98-3.05 a kg, down US cents 2 due to weak yuan).

In India, prices rolled over and no revision was announced for October pricing as yet. While cost fluctuated at high levels, acrylic fibre industry is likely to maintain the status quo, and will mainly monitor the changes in downstream demand in coming weeks.

In Pakistan, 1.2D ASF prices remained unchanged in Karachi market at PakRs.360 a kg (US$2.92 a kg). In India, producers’ offers rolled over at INR194-205.50 a kg (US$2.67-2.83 a kg, down US cents 3 due to weak INR) for September.

Viscose

The viscose staple fibre market sentiment improved somewhat in China after major producers met during the week to agree on maintaining prices in the short run, with plans to raise them after the National Day holidays. Market confidence was restored after the news, and downstream mills started replenishing, although in small volumes. Thus, sale – production ratio improved by weekend. Given the current weak order intakes and tight liquidity, downstream mills remained cautious on stoking up. Thus, inventory may pile up at viscose producers during the National Day holiday period. Offers for medium-end viscose goods were down at the upper end at 15-15.10 yuan a kg (US$2.18-2.20 a kg, down US cents 5) and those for high-end goods were stable at 15.30-15.40 yuan a kg (2.22-2.24 a kg). In spot, 1.5D VSF offers were at 15.11 yuan a kg (US$2.20 a kg) and 1.2D at 15.30 yuan a kg (US$2.22 a kg).

In Pakistan, viscose fibre prices were stable after they were rolled back last week. Offers for 1.5D VSF rolled over at PakRs270-273 a kg (US$2.19-2.22 a kg) in Karachi.

In India, prices generally rolled over with no factors moving the markets. 1.2-2.0D VSF prices remained unchanged at INR144-151 kg (US$1.98-2.08 a kg, down US cents 2 due to weak INR).