Polyester staple fibre markets in Asia were lusterless as players resumed business after the festive season and on the back of range-bound feedstock and inactive buying interest at the year end. In China, producers cut offers on weaker expectation, while trading sentiment remained tepid. In Shandong and Hebei, central values were in weakness while mainstream offers inched down in Fujian. In India, producers retained their offers for January after seeing some recovery in raw material cost late in the week. In Pakistan, too, producers’ offers remained unchanged on the week on support from firm raw material. Overall, polyester fibre markets are expected to move sideways in the short run in line with raw material pricing.
In China, offers for 1.4D direct-melt PSF edged down to 8.60-8.75 Yuan a kg (US$1.25-1.28 a kg, down US cents 2) in Jiangsu and Zhejiang while the same in Fujian and Shandong lost US cents 1-3 to US$1.26-1.28 a kg. Export offers were at around US$1.12 a kg FOB China. In Pakistan, 1.4D PSF producers’ offers rolled over at PakRs.187-189 a kg (US$1.34-1.35 a kg). In India, PSF offers remained unchanged for January with 1.2D to INR84.25 a kg (US$1.21 a kg) and 1.4-2D at INR83.50 a kg or US$1.20 a kg, both up US cent 1 due to stronger currency.
Nylon
Demand for nylon staple fibre was modest to high this week. In China, nylon staple fibre 1.5D prices increased to 16.50-17.50 Yuan a kg (US$2.41-2.55 a kg, up US cents 7).
Acrylic
Acrylic staple fibre prices rolled over in Asian markets on firm acrylonitrile cost, although it did not change this week. In China, domestic acrylic fibre market saw downstream order intake mounting and producers mostly raised operating rate to 80% to bring more supply. Sinopec raised its operating rates of its acrylic fibre plants due to recover in margins and downstream stocking up activities ahead of the Lunar New Year holidays. Meanwhile, acrylic yarn makers were running at about 62% capacity as they continued to trim production, and but demand for acrylic fibre increased. Acrylic fibre offers rolled over again in India and Pakistan this week. Going ahead, with acrylonitrile markets quiet and acrylic fibre offers stable, and downstream users to increase replenishment, prices are expected to remain unchanged given limited time before the Spring Festival.
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 flat at 15.55-16.40 Yuan a kg (US$2.27-2.39 a kg). In Pakistan, 1.2D ASF prices were stable in Karachi market at PakRs.345 a kg (US$2.47 a kg). In India, producers’ offers remained unchanged after a significant cut in December, at INR158-169.50 a kg (US$2.26-2.42 a kg, up US cent 1, due to strong currency).
Viscose
The viscose staple fibre market remained weak in China, with bearish expectation among market participants. After the New Year’s Day holiday break, some previously high offers were revised down. Downstream mills mostly replenished volumes in smaller parcels, and pre-festival replenishment is yet to start. In India, viscose fibre prices were unchanged over the long period while in Pakistan offers remained unchanged. Overall, viscose fibre market outlook is weak, with tight liquidity before the lunar festival and sluggish downstream yarn liquidity. Further, lack of bullish signals, downstream mills were postponing the pre-festival replenishment, with plans to reduce procurement. It is expected that replenishing activities may gradually start from next week with producers eager to clear stocks. Thus, prices are expected to fall slightly again.
In China, spot offers were down on the week with 1.5D VSF at 13.60 Yuan a kg (US$1.98 a kg, down US cents 2) and 1.2D at 13.88 Yuan a kg (US$2.02 a kg, down US cent 1). Mainstream offers for medium-end goods were at 13.50-13.60 Yuan a kg (US$1.97-1.98 a kg) and high-end goods at 13.80-14.00 Yuan a kg (US$2.01-2.04 a kg). 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$2.10-2.82 a kg).
