Polyester
Polyester staple fibre price movements were stable to up in the Asian markets of China, India and Pakistan this week. In China, the polyester fibre market stabilised after the price rose early in the week. Mainstream offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang were raised and went range bond later with discussions still lower. In Shandong and Hebei, polyester markets showed stableness despite discussions for 1.4D direct-melt-spun PSF were lifted while Fujian market was on a steady note. Export demand was also stable for China-origin cargoes from the previous week despite stronger Yuan. In India, producers’ offers were cut for January and are expected to reduce further in second half of the month. In Pakistan, offers were steady in Karachi market after they were raised in early December. Polyester fibre markets are likely to firm up on recovering cost, while outlook is cautious given weak demand.
In China, offers for 1.4D direct-melt PSF inched up to 8.70-8.80 Yuan a kg (US$1.28-1.30 a kg, up US cents 2-3) in Jiangsu and Zhejiang while the same in Fujian and Shandong gained US cents 2 to US$1.29-1.30 a kg. Export offers were at around US$1.12 a kg FOB China. In Pakistan, 1.4D PSF producers’ offers were unchanged at PakRs.187-189 a kg (US$1.34-1.35 a kg). In India, PSF offers were cut INR1 for January with 1.2D to INR83.25 a kg (US$1.18 a kg) and 1.4-2D at INR82.50 a kg or US$1.17 a kg, both down US cents 2 also due to weak currency.
Nylon
Prices of staple fibre rolled over and production was slightly above breakeven level. In China, nylon staple fiber 1.5D prices remained unchanged at 16.50-17.50 Yuan a kg (US$2.43-2.58 a kg). All quotes were US cents 3 higher due to stronger Yuan.
Acrylic
Acrylic staple fibre markets were calm this week across China, India and Pakistan. However, currency strength pegged values up in China and down in India. In China, producers kept inventory at low levels amid stable supply and demand structure. Upstream, acrylonitrile prices moved sideways but stable as propylene saw a strong rebound. The industry run rate increased to 75% during the week, as many producers raised operation rate, after demand improved from earlier period. Downstream spinners replenished goods priced at lower levels, to build inventory ahead of Spring Festival to maintain minimum production. In India, producers’ offers were stable as feedstock prices rolled over. In Pakistan, the market was on a quiet note seeing input cost still firm. Going ahead, prices are expected to remain stable before the Spring Festival holidays.
Taiwan origin 3D bright ASF tow offers were stable at US$2-2.10 a kg while offers in China for medium-length and cotton-type acrylic fibre rolled over at 15.55-16.40 Yuan a kg (US$2.31-2.41 a kg, up US cents 2 due to strong Yuan). In Pakistan, 1.2D ASF prices were steady in Karachi market at PakRs.345 a kg (US$2.47 a kg). In India, producers’ offers remained unchanged at INR158-169.50 a kg (US$2.26-2.42 a kg, down US cents 2, due to weak currency).
Viscose
Viscose staple fibre prices continued to decline in China, but transactions increased after high-end producers took lead early in the week to cut offers for large volume buying. This was responded by massive transaction volumes. Mainstream offers for medium-end producers actively followed up, and realised concentrated deals lower than last week. Trading atmosphere was termed as brisk, and in turn some low prices were gradually retraced. On the other hand, following a week of replenishment, downstream mills mostly finished their pre-holiday restocking, while viscose fibre producers mostly engaged in reclaiming funds. In India, no change was announced on viscose fibre prices for January, while prices rolled over in Pakistan.
In China, spot offers fell this week with 1.5D VSF at 13.35 Yuan a kg (US$1.97 a kg, down US cents 2) and 1.2D at 13.64 Yuan a kg (US$2.01 a kg, down US cents 2). Offers for medium-end goods were at 13-13.20 Yuan a kg (US$1.91-1.94 a kg, down US cents 4) and high-end goods at 13.50 Yuan a kg (US$1.99 a kg, down US cents 2). In Pakistan, offers for 1.5D VSF rolled over at PakRs270-273 a kg (US$1.93-1.95 a kg) in Karachi. In India, prices were unchanged with 1.2-2.0D VSF prices at INR147-197 a kg (US$2.09-2.80 a kg, down US cents 2 due to weak currency).
