Polyester
Polyester filament yarn prices were seen inching up in China, following firmer feedstock sentiment together with some production cuts by producers – which boosted local offers somewhat. Overall, the trading atmosphere was sound this week. In Zhejiang, as crude oil prices and PTA futures appeared firm, offers mostly climbed on the back of production cuts. Trading atmosphere was sound, as downstream mills moderately purchased on higher feedstock. In Pakistan, offers for DTYs intermingled and non-intermingled were stable as local producers maintained offers, but focused on liquidity. However, trading atmosphere was not good as earlier, although downstream mills purchased normal volumes. In India, POY offers were generally stable, on the back of higher feedstock and sound trading atmosphere. Downstream mills slightly increased buying, although they held cautious mood about market future.
In China, POY offers gained US cent 1 in Shengze, with 75/72 at US$1.34-1.35 a kg and 75/36 to US$1.32-1.34 a kg. In India, POY offers were flat in INR terms and down US cents 2 in US$ term due to weak currency, with 115/108 at INR100 a kg or US$1.39 a kg and 130/34 POY at INR92 a kg or US$1.28 a kg. In China, 75/72 intermingled DTY prices were up US cent 1 to US$1.82-1.83 a kg and 75/36 to US$1.80-1.82 a kg. In Pakistan, selling indications were stable 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). In China, FDY offers inched up US cent 1 for 50/24 at US$1.48-1.50 a kg and 150/96 FDY to US$1.31-1.32 a kg.
Nylon
Nylon filament yarn prices declined as upstream nylon chip and caprolactam markets headed down. Demand was also flat as textile producers operated at low run rates. The buying volume of FDY, DTY and POY were based on rigid demand. Warp knitting mills and covering mills ran at 60% run rates, while circular knitting and lacing mills ran at 35% run rates. Demand for cord fabric and monofilament was passable, while that for fishing net yarn was modest. Fabric makers are likely to keep run rates low and awaiting fresh orders. Thus, nylon yarn prices may remain stable to weak in coming weeks. India has imposed a five-year anti-dumping duty of US$719.44 a ton and US$128.06 a ton on nylon filament yarn imported from European Union and Vietnam. The duty follows the Directorate General of Trade Remedies’ (DGTR) discovering that EU and Vietnam exports nylon multi filament yarn to India was below normal values, causing material injury in the domestic sector. Meanwhile, prices of nylon yarn were stable in the Surat market.
In China, offers for nylon FDY70D/24F SD eased to 18.80-20 Yuan a kg (US$2.73-2.91, down US cents 3), while DTY70D offers fell to 21-22 Yuan a kg (US$3.05-3.20 a kg, down US cents 8-12). Cord fabric 1,260D offers plunged to 23.50-25 Yuan a kg (US$3.42-3.64 a kg, down US cents 30), while mono filament 30D prices fell to 21-22 Yuan a kg (US$3.05-3.20 a kg, down US cents 15). In India, 20 SD filament prices were steady on the week at INR310 a kg (US$4.32 a kg, down US cents 6 due to weak currency) in Surat market.
Viscose
Viscose filament yarn prices were largely stable in China and India this week. In China, trading activities were lukewarm, as downstream converters mostly purchased need-based volumes. Price-wise, offers for first-class, second-class and third-class VFY 120D were seen rolling over on the week. In India, viscose filament markets were listless as trading was almost negligible given the unchanged demand. Overall, going ahead, as year-end approaches, demand prospect for viscose filament appears weak, resulting in slow liquidity. Thus, VFY prices are expected to remain range bound on a weak note until the year end.
In China, offers for viscose filament 120D bright rolled over at 38.80 Yuan a kg (US$5.64 a kg), and dull at 38.45 Yuan a kg (US$5.59 a kg), both down US cent 1 due to weak 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$3.74 a kg), both down in US$ for similar reason. In India, VFY prices rolled over in INR and down US cents 5-9 in US$ terms due to weak currency, with 100D bright VFY at INR388 a kg (US$5.41 a kg) and 450D at INR 225 a kg (US$3.14 a kg).
