Polyester prices stable in China, lifted in Pakistan

Polyester

Polyester staple fibre markets in China stabilised and producers liquidated goods. Mainstream offers for 1.4D direct-melt-spun polyester fibre in Jiangsu and Zhejiang were range bound, with discussions generally rolling over ahead of the Lunar New Year holidays. In Fujian, the polyester market was on a steady note. In Pakistan, producers lifted offers for polyester fibre implying passing over of the rising cost and firmness in cotton markets. In India, polyester fibre prices were stable after they were cut in early January. Going forward, supported by firm crude oil and purified terephthalic values, polyester fibre prices are expected to move sideways until the Lunar New Year break.

In China, offers for 1.4D direct-melt PSF were flat at 8.70-8.80 Yuan a kg (US$1.29-1.30 a kg) in Jiangsu and Zhejiang while the same in Fujian and Shandong were at US$1.29-1.31 a kg. Export offers were at around US$1.12 a kg FOB China. In Pakistan, 1.4D PSF producers’ offers were hiked PakRs3 to PakRs.190-192 a kg (US$1.37-1.38 a kg, up US cents 3). In India, PSF offers were stable for January with 1.2D at INR83.25 a kg (US$1.17 a kg) and 1.4-2D at INR82.50 a kg or US$1.16 a kg, both down US cent 1 due to weak currency.

Nylon

Prices of staple fibre prices declined in China as production rose amid poor demand. Margins were slightly above the breakeven point. In China, 1.5D nylon staple fibre prices declined to 16.00-17.30 Yuan a kg (US$2.36-2.56 a kg, down US cents 7).

Acrylic

Acrylic staple fibre prices generally rolled over in Asian market as both demand and cost remained unchanged during the week. Players expect prices to recover gradually on the back of higher operation from the downstream sector. In China, the domestic market atmosphere was thin, as producers were mainly arranging goods delivery, and no new orders have emerged. The operating rate of acrylic fibre plants averaged 75% during the week, as producers maintained their production levels. Upstream feedstock prices also remained firm while downstream demand weakened with the Spring Festival drawing closer and buyers showing low interest in pre-holiday development. In India, producers’ offers remained unchanged for the month with no movement seen in raw material cost yet. Similarly, acrylic fibre prices in Pakistan remained unmoved but were at their former level.

Taiwan origin 3D bright ASF tow offers rolled over at US$2.00-2.10 a kg while offers in China for medium-length and cotton-type acrylic fibre were steady at 15.55-16.40 Yuan a kg (US$2.30-2.42 a kg, up US cent 1 due to strong Yuan). In Pakistan, 1.2D ASF prices were steady in Karachi market at PakRs.345 a kg (US$2.48 a kg, up US cents 2 due to strong currency). In India, producers’ offers did not change for the month and were at INR158-169.50 a kg (US$2.22-2.38 a kg, down US cents 2, due to weak INR).

Viscose

Viscose staple fibre markets were quiet in Asia this week. In China, following huge transactions last week, some producers concluded few deals at previous prices in the first half of the week, while gradually concluding transactions later. And previous low prices were gradually rejected, offers recovered for both medium-end and high-end material in the latter half of the week. During the week, while fresh sales gradually reduced, producers were mostly engaged with planning order execution, fund reclamation and goods delivery. In India, viscose fibre prices remained unchanged given the firmness in cotton prices. In Pakistan, offers generally rolled over as the cotton market was on a flat run.

In China, spot offers moderated this week with 1.5D VSF at 13.30 Yuan a kg (US$1.97 a kg) and 1.2D at 13.60 Yuan a kg (US$2.01 a kg), no change due to stronger Yuan. Offers for medium-end goods were up at 13.40-13.50 Yuan a kg (US$1.98-2.00 a kg, up US cents 7), while high-end goods recovered to 13.70-13.80 Yuan a kg (US$2.02-2.04 a kg, up US cents 3). In Pakistan, offers for 1.5D VSF rolled over at PakRs270-273 a kg (US$1.94-1.96 a kg, up US cent 1 due to strong currency) in Karachi. In India, prices rolled over with 1.2-2.0D VSF prices at INR147-197 a kg (US$2.07-2.77 a kg, down US cents 2 due to weak currency).