Polyester
Polyester filament yarn prices moved down in China this week, on the back of falling crude oil and range-bound PTA futures. Trading atmosphere was dull, as downstream mills generally adopted wait-and-watch stance, without any plans to stock up materials at the moment. In Shengze, selling indications for POYs, DTYs and FDYs were reduced while other regional markets followed through. In Pakistan, given the sharp fall in the PakRe and falling crude prices, local DTY offers were adjusted down in line with imported goods. Downstream mills were cautious, resulting in lukewarm trading atmosphere. In India, POY offers were stable, with still lackluster atmosphere. Downstream mills barely maintained run rates. Given the fluctuations of crude oil and feedstock, PFY offers will remain in moderation in coming week while most producers will focus on liquidating volumes.
In China, POY offers fell US cents 6 in Shengze with 75/72 at US$1.28-1.30 a kg and 75/36 to US$1.27-1.28 a kg. In India, POY offers rolled over in INR term and up US cents 3 in US$ term due to strong currency, with 115/108 at INR100 a kg or US$1.44 a kg and 130/34 POY at INR92 a kg or US$1.32 a kg. In China, 75/72 intermingled DTY prices fell US cents 7 to US$1.76-1.77 a kg and 75/36 to US$1.74-1.76 a kg. In Pakistan, selling indications for local were lowered PakRs3 or US cents 11 for 300/96 DTY intermingled to PakRs115 a kg (US$1.82 a kg) while imported goods were stable at PakRs116 (US$1.84 a kg). In China, FDY offers were cut US cents 4 for 50/24 at US$1.43-1.44 a kg and 150/96 FDY by US cents 3 to US$1.25-1.27 a kg.
Nylon
Nylon filament yarn prices declined sharply in Asian markets as upstream cost of caprolactam and nylon chip almost collapsed this week. In China, downstream converters operated at lower run rates and purchasing volume of FDY, DTY and POY were based on rigid demand. Warp knitting mills and covering mills ran at 60%, while circular knitting and lacing mills were operating at 40%. Nylon-6 FDY prices dipped on softening chip market and low downstream demand while liquidity of full-dull FDY was thin. Demand from terminal sectors was thin, and market dipped on falling feedstock cost. Nylon-6 DTY market was weak on low feedstock cost while downstream demand was tepid. Nylon filament prices rolled over in India while strong currency pegged values up in US$ terms.
In China, offers for nylon FDY70D/24F SD plummeted to 20.50-21.50 Yuan a kg (US$2.95-3.10), while DTY70D offers fell to 22.00-23.50 Yuan a kg (US$3.17-3.39 a kg) both down US cents 15. Cord fabric 1,260D offers declined to 25.50-26.50 Yuan a kg (US$3.68-3.82 a kg, down US cents 7) while mono filament 30D prices fell to 22.00-23.00 Yuan a kg (US$3.17-3.32 a kg, down US cents 12). In India, 20 SD filament prices were steady on the week at INR310 a kg (US$4.45 a kg, up US cents 10 due to strong currency) in Surat market.
Viscose
Viscose filament yarn prices were largely stable in India and China, but market liquidity was still modest. In China, reportedly mills in Dongguan and Shaoxing were planning for holidays in advance, while downstream mills generally suffered heavy pressure of reclaiming funds. Thus, some mills only bought small volumes of viscose filament. Price-wise, offers for first-class, second-class and third-class VFY 120D were seen rolling over but trading prices partly eased, due to slow liquidity. In India, strong currency pegged values significantly up in US$ terms while they rolled over in INR terms. Overall, given the approaching year end, demand for viscose filament weakened, resulting in slow liquidity. Thus, prices are expected to remain range bound on a weak note in coming weeks.
In China, offers for viscose filament 120D bright were unchanged at 38.80 Yuan a kg (US$5.59 a kg), and dull at 38.45 Yuan a kg (US$5.54 a kg). 300D bright prices rolled over at 29.20 Yuan a kg (US$4.21 a kg) and dull at 25.70 Yuan a kg (US$3.71 a kg). In India, VFY prices were steady in INR and up US cents 7-12 in US$ terms due to strong currency, with 100D bright VFY at INR388 a kg (US$5.57 a kg) and 450D at INR 225 a kg (US$3.23 a kg).
