Polyester

Polyester filament yarn prices nosedived in China as upstream feedstock cost eased dramatically. Local offers were generally cut in various proportion, with POYs and FDYs falling rapidly than DTYs. Despite prices being cut in many cases, discounts were also available in firm trades. Downstream mills still held a wait-and-see stance mainly expecting further drop in offers.

In Pakistan, local DTY prices were stable and were at par with offers for imported goods. In India, with PTA prices weakening, local PFY offers were generally stable, with mild corrections is expected in coming weeks. Discounts were widely available as downstream mills mainly covered short positions as downstream sales were insipid.

In China, POY offers dropped further by US cents 5-7 in Shengze with 75/72 at US$1.59-1.60 a kg and 75/36 to US$1.57-1.59 a kg. In India, POY offers were flat, with 115/108 at INR104 a kg or US$1.43 a kg and 130/34 POY at INR96 a kg or US$1.32 a kg. In China, 75/72 intermingled DTY prices edged down US cent 1 at US$2.09-2.10 a kg and 75/36 to US cents US$2.06-2.08 a kg. In Pakistan, selling indications for local goods were stable for 300/96 DTY intermingled at PakRs120 a kg (US$1.98 a kg) and imported goods at PakRs118 (US$1.95 a kg). In China, FDY offers fell US cents 4-5 for 50/24 at US$1.64-1.66 a kg and by US cents 10 for 150/96 FDY at US$1.40-1.41 a kg.

Nylon

Nylon filament yarn prices were mostly stable in China this week, except some lower end prices edging down for few specs. The support mainly came from hike in domestic caprolactum spot and contact prices while nylon chip market downtrend was slower. Overall demand was passable and production was at break-even levels. Downstream converters operated at low run rates and purchasing volume of FDY, DTY and POY were on rigid demand. Warp knitting mills and covering mills operated at 65% run rates, and circular knitting and lacing mills at 45% rates. Nylon FDY prices dipped on softening chip market and modest downstream demand while DTY market was weak on low feedstock cost amid tepid downstream demand. In India, nylon filament prices remained unchanged on the week as cost was still firm at high level.

In China, offers for nylon FDY70D/24F SD dropped at the lower end to 23-23.60 Yuan a kg (US$3.32-3.40 a kg, down US cents 7), while DTY70D offers fell to 23.80-25 Yuan a kg (US$3.43-3.60 a kg, down US cents 2). Cord fabric 1,260D offers were flat at 27-28 Yuan a kg (US$3.89-4.04 a kg) while mono filament 30D prices stable at 23.50-24 Yuan a kg (US$3.39-3.53 a kg). In India, 20 SD filament prices rolled over this week at INR310 a kg (US$4.25 a kg, up US cents 3 due to strong INR) in Surat market.

Viscose

Viscose filament yarn prices were stable to down in China as the trading atmosphere weakened. Downstream mills reduced production partially, seeing poor order intakes, so demand for viscose filament apparently thinned. In turn, inventory at producers piled up as operating rates remained stable at a high level. Price-wise, offers for first-class, second-class and third-class VFY 120D were seen softening week-on-week. In India, viscose filament prices were stable this week although costs rose further, but demand remained rigid. Going ahead, with higher pulp cost, viscose filament prices are expected to remain stable to soft, due to poor downstream fabric performance.

In China, viscose filament offers moderated this week with 120D bright at 39 Yuan a kg (US$5.62 a kg), and dull at 38.65 Yuan a kg (US$5.57 a kg), both down US cents 3. 300D bright were down at 29.60 Yuan a kg (US$4.27 a kg) and dull at 26.10 Yuan a kg (US$3.76 a kg), both down US cent 1. In India, VFY prices were stable in INR and up US cents 2-4 in US$ terms, with 100D bright VFY at INR388 a kg (US$5.32 a kg) and 450D at INR 225 a kg (US$3.09 a kg).