Polyester

Polyester staple fibre markets in China saw sales surge and most producers liquidating inventory, after prices were hiked following the announcement of US administration. The US postponed the imposition of a 10% tariff to mid-December on certain goods imported from China, including clothing. Subsequently, paraxylene markets surged and halted the fall in purified terephthalic acid values. However, global economic woes and further easing of feedstock values weighed on polyester fibre discussions. Discussions in Shandong and Hebei turned thinner amid a stronger wait-and-see sentiment by the weekend. Polyester fibre offers in Pakistan were relatively stable, as the Karachi market resumed business after the holidays. In India, producers’ offers were cut further for H2 August, as the earlier cut did not boost demand as such. The cut was despite a rise in cost of purified terephthalic acid in the domestic market.

In China, offers for 1.4D direct-melt PSF were raised to 7.10-7.30 Yuan a kg (US$1.01-1.04 a kg, up US cent 1) in Jiangsu and Zhejiang, while the same in Fujian and Shandong were also up US cent 1 at US$1.10-1.04 a kg. Export offers for China-origin 1.4D fibre were just up at US$0.99 a kg FOB China. In Pakistan, 1.4D PSF offers did not change and were at PakRs.205-207 a kg (US$1.29-1.30 a kg, down US cent 1 due to weak currency). In India, producers’ offers were cut INR3 with 1.2D at INR86.50 a kg (US$1.22 a kg) and 1.4-2D at INR85.75 a kg (US$1.21 a kg), both down US cents 5.

Nylon

Nylon staple fibre prices were stable, with high-end for wool-like grade items, while demand from core-spun yarn makers was lacking. 1.5D offers were stable at 14.50-15.50 Yuan a kg (US$2.06-2.20 a kg).

Acrylic

Acrylic staple fibre prices were stable in Asian market despite rising cost of feedstock acrylonitrile this week. In China, domestic reference prices for cotton-type staple fibre, tow and top were range bound at previous week’s level amid stable market sentiment. Amid a quiet sentiment, downstream makers received limited order intakes and are likely to remain on the sidelines in coming week. Meanwhile, acrylic makers ran at 70% capacity, up from the previous weeks, expecting demand to pick up at lower price levels. In India, producers’ offers for acrylic fibre for August remained unchanged this week, while offers in the Karachi market of Pakistan rolled over. Going forward, as upstream feedstock stabilises at a firm level and weak demand for fibre, room for offer adjustment is narrow and prices are expected to remain under narrow fluctuation.

Taiwan origin 3D bright acrylic fibre tow offers remained unchanged this week at US$2.00-2.10 a kg after easing sharply in late July. In China, medium-length and cotton-type acrylic fibre prices rolled over at 14.90-15.50 Yuan a kg (US$2.12-2.20 a kg, down US cent 1 due to weak Yuan). In Pakistan, 1.2D ASF offers rolled over in Karachi market at PakRs.380 a kg (US$2.39 a kg, down US cent 1 due to weak currency). In India, producers’ offers for August were pegged in the range of INR164.50-165.00 a kg (US$2.31-2.32 a kg, down US cent 1 due to weak INR).

Viscose

Viscose staple fibre markets were quiet in China this week. Major producers announced their monthly settlement prices or provided discounts, but downstream mills showed little or no interest in large-volume procurement. However, buying momentum appeared weak, due to the dissatisfactory performance of downstream mills. It was reported that, due to unsatisfactory margins and fresh order intakes, yarn makers preferred to wait for further reduction in viscose fibre prices. In Pakistan, viscose fibre market sentiment was relatively weak, with no supportive factor to boost the market. Overseas offers remained unchanged on the week. In India, no change in market sentiment or prices was seen in viscose fibre market. Export markets were also sluggish as shipment in July was down while unit price realization was higher than a year ago.

In China, offers for medium-end goods fell to 11.20-11.40 Yuan a kg (US$1.59-1.62 a kg, down US cents 4) while high-end goods were down at 11.60-11.80 Yuan a kg (US$1.65-1.68 a kg, down US cents 3). In spot markets, 1.5D VSF moderated to 11.40 Yuan a kg (US$1.62 a kg) and 1.2D to 11.90 Yuan a kg (US$1.69 a kg), both down US cents 2. In Pakistan, offers for overseas 1.5D VSF rolled over in Karachi markets at PakRs290-293 a kg (US$1.83-1.84 a kg, down US cent 1 due to weak currency. In India, 1.2-1.5D prices remained unchanged at INR195-197 a kg (US$2.74-2.77 a kg, down US cent 1 due to weak INR).