Polyester

Polyester staple fibre prices dropped slightly in China, despite rising cost of purified terephthalic acid and mono ethylene glycol. However, they stayed unchanged in India and Pakistan. In Jiangsu and Zhejiang, offers were lowered although slightly with discounts available in each deal. In Fujian and Shandong and Hebei, prices were also under mild correction. The lower to flat run is caused by the current weakness in demand. Even with the seasonal fall in textile production this summer, retail sales could support demand and prices as lockdown restrictions ease. Offers for 1.4D direct-melt PSF were lowered to 5.70-5.80 Yuan a kg (US$0.80-0.82 a kg, down US cents 2 at the upper end) in Jiangsu and Zhejiang while the same in Fujian and Shandong were at US$0.82-0.84 a kg.

In Taiwan, offer for 1.4D were rolled over at US$0.75 a kg FOB.

In Pakistan, 1.4D PSF offers remained unchanged at PakRs155-157 a kg (US$0.93-0.94).

In India, producers’ offers are maintained stable for H2 June at INR76 a kg (US$1.00 a kg) for 1.2D and at INR75.25 a kg (US$0.99 a kg) for 1.4D.

In the US, strained recycling industry supply chains caused by pandemic disruptions and consequent shortage of raw materials to produce recycled PET is contributing to increased demand for virgin fibre. As demand from end-users weakened in line with economic uncertainties, the virgin market will have to adjust to a new reality in mid-summer.

Nylon

In China, nylon staple fibre 1.5D offers were lifted at lower end to 13.20-13.50 Yuan a kg (US$1.86-1.90 a kg, up US cents 3).

Acrylic

Acrylic staple fibre prices were static in Asian markets, with the reference prices of cotton-type staple fibre, tow and top range bound in China. Sales also remained normal, while downstream yarn trading cooled down. Yarn mills were driven to restock, and sold their products at fixed prices. However, buying interest of end-users could hardly be boosted, as sentiment of acrylic market was dull. Upstream acrylonitrile prices were lifted with the upward momentum slowing down implying a retreat to show up soon. In China, the industrial run rate averaged 61% this week. Medium-length and cotton-type acrylic fibre prices also remained flat at 11.10-11.30 Yuan a kg (US$1.57-1.59 a kg).

Taiwan origin 3D bright acrylic fibre tow offers remained unchanged over the week at US$1.50-1.60 a kg FOB Taiwan.

Prices were stable in India and Pakistan at the moment. 1.2D ASF offers in Karachi market were notionally pegged at PakRs.350 a kg (US$2.09 a kg). In India, producers’ offers for June were fixed at INR142.50-143 a kg (US$1.87-1.88 a kg) while export prices in May averaged INR134 a kg (US$1.78 a ton) FOB.

Viscose

Viscose staple fibre prices trended lower in China prompting downstream mills to moderately stock up materials. However, as inventory was transferred down the industry chain, yarn makers were facing heavy inventory pressure at the moment. Coupled with expectation of further price reductions, buyers were cautious about purchasing. Offers for medium end fibre fell to 8.50-8.70 Yuan a kg (US$1.20-1.23 a kg, down US cents 3) and for high end goods to 8.90-9.10 Yuan a kg (US$1.26-1.28 a kg, down US cents 1-3). In spot, 1.5D VSF average prices eased to 8.70 Yuan a kg (US$1.23 a kg) and 1.2D to 9.20 Yuan a kg (US$1.30 a kg), both down US cent 1.

Meanwhile, viscose fibre prices stayed unchanged in India and rose in Pakistan. Overseas suppliers’ raised offers for 1.5D VSF in Karachi market to PakRs242-247 a kg (US$1.45-1.48 a kg, rise nullified by weak currency). In India, producers’ offers for 1.2-1.5D were rolled over at INR195-197 a kg (US$2.56-2.59 a kg). Offers in Taiwan were steady at US$1.65 a kg FOB.