Polyester staple fibre prices rolled over in China and India while they were raised in Pakistan this week. In China, 1.4D offers were largely kept unchanged from last week, supported by higher feedstock prices and despite an increase in inventory levels. Export offers also remained stable, though trade activity was harder due to volatility in energy and raw material prices. Price indications were also maintained after recent productions cuts at polyester plants. Offers rolled over with 1.4D direct-melt PSF at 10.55-10.80 Yuan a kg (US$1.52-1.56 a kg) in Jiangsu and Zhejiang while the same in Fujian and Shandong at US$1.53-1.56 a kg. Export offers, were at US$1.40 a kg FOB China.
In India, operating rates of polyester plants have gradually reduced due to weak demand and amid a credit crunch. The average run rate was brought down to around 50-55% from 60-65% earlier in the month. Demand for textile was weak despite the typical peak demand season before the Diwali Festival in November. End-users were also not willing to build inventories in order to mitigate losses and manage liquidity. PSF offers rolled over both in INR terms and US$ terms with 1.2D at INR103.25 a kg (US$1.41 a kg) and 1.4-2D at INR102.50 a kg or US$1.40 a kg.
In Pakistan, polyester fibre prices were raised again this week to counter sharp fall in PakRe which has raised largely imported raw material cost. 1.4D PSF producers’ offers were hiked PakRs2 to PakRs.205-207 a kg (US$1.55-1.56 a kg, neutralised by fall in the currency).
Nylon
In China, Nylon staple fibre 1.5D prices were also down at 19.50-20.60 Yuan a kg (US$2.81-2.97 a kg, down US cents 14).
Acrylic
Acrylic staple fibre markets in Asia were stable as raw material cost eased relieving some margin pressure. However, demand was still poor as downstream mills placed fewer fresh orders. Offers from Taiwan were heard rolling back to mid-April levels. In China, acrylic fibre makers operated at less than 40% run rate, implying shrinking supply, as many units were idled, while some others reduced production amid poor downstream appetite for the fibre. Downstream yarn mills were stuck in poor sales, and were less interested in made procurement. In Pakistan, acrylic fibre prices remained unchanged after they were cut in the previous week. In India, producers’ offers rolled over after they were fixed for October. Overall, with acrylonitrile market on a downward trajectory, plus poor demand from downstream sector, acrylic fibre prices are expected to head downward in coming weeks.
Taiwan origin 3D bright ASF tow offers rolled back US cents 5-10 to US$2.45-2.50 a kg while offers in China for medium-length and cotton-type acrylic fibre rolled over at 20.50-21.90 Yuan a kg (US$2.95-3.01 a kg). In Pakistan, 1.2D ASF prices were unchanged in Karachi market at PakRs.345 a kg (US$2.60 a kg, down US cents 3, also due to weak currency). In India, producers’ offers were stable for October at INR197-208.50 a kg (US$2.68-2.84 a kg).
Viscose
Viscose stable fibre prices remained stable to low in China, as mainstream producers generally held their indications. Selling prices for medium-end and high-end goods slightly eased as the market sentiment was slightly stalemated. Overall, trading atmosphere stagnated, although sellers negotiated their indications. However, downstream buying interest remained low, so some VSF producers liquidated volumes at slightly lower prices after completing their previous orders. In Pakistan, viscose prices remained unchanged after they were rolled back last week. However, weak currency pegged values down in US$ term. In India, viscose makers did not change their offers as the cost was still firmly high, but downstream buying was rigid.
In China, offers for medium-end viscose goods eased a bit to 15.20-15.30 Yuan a kg (US$2.19-2.21 a kg, down US cents 3) and those for high-end goods were slightly lower at 15.30-15.50 Yuan a kg (2.21-2.23 a kg, down US cents 3) from previous trading week. In spot, 1.5D VSF offers were flat at 15.15 Yuan a kg (US$2.18 a kg) and 1.2D up at 15.40 Yuan a kg (US$2.22 a kg). In Pakistan, offers for 1.5D VSF remained unchanged at PakRs265-268 a kg (US$2.00-2.02 a kg, down US cents 2, due to weak currency) in Karachi. In India, 1.2-2.0D VSF prices rolled over at INR150-200 a kg (US$2.04-2.72 a kg).
