Polyester staple fibre prices declined to a 13-week low in China, following quick losses in feedstock prices and tepid demand. Domestic markets saw small parcels changing hands on rigid demand, while export offers also declined as discussions were at slightly lower levels. Further depreciation of Yuan allowed exporters to lower offers as they sought to increase market share to manage inventory levels. Production rates were ramped up entering peak season, amid lukewarm demand, which led to inventory piling up. Offers declined further with 1.4D direct-melt PSF at 9.75-9.90 Yuan a kg (US$1.41-1.43 a kg, down US cents 4) in Jiangsu and Zhejiang while the same in Fujian and Shandong at US$1.41-1.43 a kg, down US cents 4-5. Export offers also declined by US cents 5 to around US$1.30 a kg FOB China.
In Pakistan, polyester fibre producers held stable offers and were active to offload goods. 1.4D PSF producers’ offers were unchanged at PakRs.205-207 a kg (US$1.53-1.55 a kg).
In India, producers cut down offers for November by INR5, after three months of stable run, amid weak sentiment. 1.2D is pegged at INR98.25 a kg (US$1.35 a kg) and 1.4-2D at INR97.50 a kg or US$1.34 a kg, both down US cents 6.
Nylon
In China, nylon staple fibre 1.5D prices were unchanged at 19-20.50 Yuan a kg (US$2.74-2.96 a kg).
Acrylic
Acrylic staple fibre markets in Asia were silent or reacted to the upheavals of upstream raw material prices plummeting across regions. Acrylonitrile prices have declined sharply over the past two weeks on dropping operating rate in the acrylic fibre sector. In China, the industry run rate clocked 39% during the week, indicating a shrinking supply, and many units were idled, while some reduced production. Downstream demand was weak, as mills were covered enough so buying interest waned. In India, acrylic fibre producers reduced their offers for November seeing acrylonitrile prices drop more than 6% in the past three weeks. In Pakistan, offers remained unchanged after they were cut in the second week of October. With a successive fall in acrylonitrile cost, a markdown in acrylic fibre prices is inevitable. However, the extent of any reduction and the timing will be decided by producers. In Europe, acrylic fibre producers have reduced operating rate to an average of 70-80%. The drop was more pronounced in Turkey where AKSA cut its production by 40% through October due to a seasonal lull.
Taiwan origin 3D bright ASF tow offers remained unchanged at US$2.40-2.45 a kg, while offers in China for medium-length and cotton-type acrylic fibre were stable at 20.50-21.90 Yuan a kg (US$2.96-3.01 a kg). In India, producers’ offers were reduced for November by INR9.50 to INR187.50-199.00 a kg (US$2.57-2.73 a kg, down US cents 11). In Pakistan, 1.2D ASF prices rolled over in Karachi market at PakRs.345 a kg (US$2.58 a kg).
Viscose
Viscose staple fibre market extended the weakness in China, amid thick pessimistic prospects. Although producers intended to maintain price levels, low prices still emerged frequently, while actual transaction volumes were limited. Downstream mills generally talked down the prices, or waited for release of monthly settlement prices. In India, prices remained unchanged while they rolled over in Pakistan after a hike last week. Overall, a weakness in the viscose market was obvious during the week, as supply was ample despite lower industrial run rate, while demand was soft in current environment. It is expected that some yarn makers may replenish volumes next week.
In China, offers for medium-end viscose goods moderated to 15-15.30 Yuan a kg (US$2.16-2.21 a kg) and those for high-end goods were at 14.80-14.90 Yuan a kg (2.13-2.15 a kg, down US cents 4) from previous week. In spot, 1.5D VSF offers were down at 14.93 Yuan a kg (US$2.15 a kg) and 1.2D at 15.10 Yuan a kg (US$2.18 a kg), both down US cents 3 from last week. In Pakistan, offers for 1.5D VSF were steady at PakRs270-273 a kg (US$2.02-2.04 a kg) in Karachi. In India, 1.2-2.0D VSF prices remained unchanged at INR150-200 a kg (US$2.06-2.74 a kg).
