Polyester staple fibre markets were quiet across China, India and Pakistan this week, with no change in pricing reported despite sharp fall in the cost of raw material. 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 cutting down high-end offers. However, mainstream offers and discussions for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang remained changed. In Pakistan, polyester the fibre market in Karachi was stable to soft and producers offers generally rolled over after 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 weeks.
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
Prices of staple fibre declined sharply as market was under heavy pressure, while demand was lusterless. 1.5D prices were at 17.00-18.50 Yuan a kg (US$2.45-2.68 a kg, down US cents 22).
Acrylic
Acrylic staple fibre prices continued to trend down in China as acrylonitrile cost has been on continuous slide while supply increased when demand was hard to improve. Prices in other markets of India and Pakistan rolled over but they moved either ways in US$ terms depending on their currency movement. In China, the domestic market was silent, amid moderate demand. However, run rate increased to 50% during the week, indicating rising supply, as many units restarted, while some others reduced production. Overall demand is unlikely to improve in the near term, and downstream users will follow up in a measured way while participants will keep track of movement in upstream sectors.
Taiwan origin 3D bright ASF tow offers remained flat at US$2.40-2.45 a kg while offers in China for medium-length and cotton-type acrylic fibre declined sharply to 16.20-16.40 Yuan a kg (US$2.34-2.36 a kg, down US cents 19). In Pakistan, 1.2D ASF prices were unchanged in Karachi market at PakRs.345 a kg (US$2.48 a kg, down US cents 8 due to weak currency). In India, producers’ offers rolled over at INR187.50-199 a kg (US$2.69-2.86 a kg, up US cents 6 due to strong INR).
Viscose
Viscose staple fibre markets were stable in China, India and Pakistan week amid quiet atmosphere. In China, following large trades in previous weeks, producers were mostly engaged in fulfilling previous orders this week, and fresh deals were mostly in small lots. Prices for medium-end and high-end goods inched up on firming downstream demand, although upstream cost eased a bit. In India, producers’ offer rolled over this week but are revised down for December, seeing cost easing and INR strengthening against the US$. In Pakistan, the viscose fibre market was quiet following a fall in cotton prices. Going ahead, players will focus on dissolving pulp market, as well as the fresh downstream demand.
In China, spot offers rose on the week with 1.5D VSF at 13.89 Yuan a kg (US$2 a kg, up US cents 2) and 1.2D to 14.09 Yuan a kg (US$2.03 a kg, up US cents 2). In Pakistan, offers for 1.5D VSF rolled over at PakRs270-273 a kg (US$1.94-1.97 a kg, down US cents 7 due to weak currency) in Karachi. In India, 1.2-2.0D VSF prices rolled over at INR150-200 a kg (US$2.15-2.87 a kg, up US cents 5-6 due to stronger INR).
