Polyester
Polyester filament yarn offers hiked in China, due to the uptrend in crude oil and feedstock sectors. Downstream buying interest turned subdued, as the mills just digested previously bought stocks. The strong Yuan also pushed values up in US$ terms. In Shengze, mainstream producer raised offer late in the week after rolling them over for most of the week. Selling indications were hiked for FDYs, DTYs and POYs by about US cents 4-5 a kg as inventory pressure eased somewhat but sales turned insipid weekend. In Pakistan, offers for DTY intermingled remained unchanged in Karachi market after they were reduced mid-November. In India, POY prices were range bound, with mild fall in US$ terms due to weak currency. Downstream mills just covered shorts, so trading atmosphere was insipid, implying weak demand.
In China, POY offers gained US cents 4 in Shengze with 75/72 at US$1.33-1.34 a kg and 75/36 to US$1.31-1.33 a kg. In India, POY offers were flat in INR term and down US cents 2 in US$ term due to weak currency, with 115/108 at INR100 a kg or US$1.42 a kg and 130/34 POY at INR92 a kg or US$1.30 a kg. In China, 75/72 intermingled DTY prices were up US cents 5 to US$1.81-1.82 a kg and 75/36 to US$1.79-1.81 a kg. In Pakistan, selling indications rolled over for local goods with 300/96 DTY intermingled at PakRs115 a kg (US$1.81 a kg) while imported goods were stable at PakRs116 (US$1.83 a kg), both down US cent 1 due to weak currency. In China, FDY offers were raised US cents 4 for 50/24 at US$1.47-1.49 a kg and 150/96 FDY to US$1.30-1.31 a kg.
Nylon
Nylon filament yarn market sentiment in China was severely dented by the lower chip market outside China and thin demand for yarn dented in domestic market. Run rates were at 70-80%, or even 50% given break-even production. In Jiangsu, lower nylon chip market weighed on the selling front, and demand was thin and margins shrank. Nylon-6 FDY market dipped to reflect weak chips, and demand from wool spinning sector was tepid and that from weaving sector was cautious. Nylon-6 DTY market headed down amid weak demand and lower feedstock, while production was slightly above break-even levels. Cord fabric 1.260D was in the range bound as demand from tire sector was stable. Monofilament prices were steady amid healthy margins. Prices in India remained steady at the moment.
In China, offers for nylon FDY70D/24F SD plummeted to 19.00-20.00 Yuan a kg (US$2.77-2.91, down US cents 19), while DTY70D offers fell to 21.50-22.80 Yuan a kg (US$3.13-3.32 a kg, down US cents 4). Cord fabric 1,260D offers were sustained at 25.50-26.50 Yuan a kg (US$3.71-3.86 a kg, up US cents 4 due to strong Yuan) while mono filament 30D prices rolled over at 22.00-23.00 Yuan a kg (US$3.20-3.35 a kg, up US cents 3). In India, 20 SD filament prices were steady on the week at INR310 a kg (US$4.39 a kg, down US cents 6 due to weak currency) in Surat market.
Viscose
Viscose filament yarn prices were largely stable in China, seeing downstream converters mostly replenish need based volumes. Price-wise, offers for first-class, second-class and third-class VFY 120D were seen rolling over in Yuan terms but up in US$ term due to strong currency. In India, prices remained unchanged for the week but were down in US$ terms due to weak currency. Overall, given the upcoming year end, demand for viscose filament will be weak, 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 rolled over at 38.80 Yuan a kg (US$5.65 a kg), and dull at 38.45 Yuan a kg (US$5.60 a kg), both up US cent s6 due to strong currency. 300D bright prices rolled over at 29.20 Yuan a kg (US$4.25 a kg) and dull at 25.70 Yuan a kg (US$3.74 a kg), both up US cents for similar reason. In India, VFY prices were steady in INR and down US cents 4-8 in US$ terms due to weak currency, with 100D bright VFY at INR388 a kg (US$5.50 a kg) and 450D at INR 225 a kg (US$3.19 a kg).
