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Pricesfree24 Sept 2018Polyester filament yarn prices declined rapidly this week in China increasingly squeezing margins while sales were losing traction
Pricesfree17 Sept 2018Cotton US futures were lower as Hurricane Florence targeted Carolina’s coast. It lost force and was named a Category 2 storm as it approached land. The wind and precipitation were still big enough to significantly damage affected states, mostly from Southeast Virginia to South Carolina. Cotton speculators sold due to the weaker winds seen in the storm. The USDA’s WASDE report increased production estimates on an increased area as yields were lower contrary to cotton players’ expectation of a slight decrease in production. It also increased exports and forecast only a slight increase in ending stocks despite the increased production
Pricesfree17 Sept 2018Polyester staple fibre prices moved down in China this week as upstream costs retreated from a multi-year high. Nevertheless, polyester margins have narrowed, while sales have slowed, resulting in reduction in operating rates of polyester facilities in key China markets
Pricesfree17 Sept 2018Polyester filament yarn prices declined sharply due to weak feedstock sentiments. This prompted downstream mills to stay on sideline or buy hand to mouth volume expecting prices to lower given the fall in PTA and MEG cost
Pricesfree17 Sept 2018Mono ethylene glycol prices slumped by nearly 7% this week in Asian markets after three consecutive weeks of gains, as downstream polyester sales slowed down, amid the US-China trade spat. Buying appetite was tapered as H1 September obligations were largely completed
Insightfree17 Sept 2018The World Agricultural Supply and Demand Estimates (WASDE) report of September 2018, has estimated US cotton production, exports and ending stocks will be larger in 2018-19 relative to its numbers in August
Pricesfree10 Sept 2018According to John Dunham & Associates, conducted analysis on a proposed tariffs hike by the US noted that US chemical distributors would face a cost increase of US$1.277bn if the US moves forward with its third round of tariffs on imports from China.
Pricesfree10 Sept 2018The crude oil market closed the week of 7 September with prices down for the three straight session, weighed down by a strong US dollar, weakness in the equity markets, and Tropical Storm Gordon’s marginal impact on US Gulf Coast oil installations
Pricesfree10 Sept 2018According to USDA’s weekly export sales report of week ending 30 August, net sales of 92,200 RB for 2018-19 were reported for China (24,500 RB, including decreases of 4,500 RB); Vietnam (23,500 RB, including decreases of 3,200 RB); Indonesia (15,600 RB, including 900 RB switched from Thailand, 600 RB switched from Japan, and decreases of 600 RB); Pakistan (10,600 RB, including decreases of 100 RB); and Ecuador (6,600 RB).
Pricesfree3 Sept 2018China’s ban on imported plastic waste has not only boosted demand for virgin material significantly, but also the feedstock paraxylene, purified terephthalate acid and mono ethylene glycol. The imports of scrap plastic peaked in 2016, at around 8 million tons, accounting for almost half of global plastic waste trade
Pricesfree3 Sept 2018Crude oil prices rose more than 1% this week, with Brent at its highest in seven weeks and US crude touching a three-week peak, supported by a drawdown in crude and gasoline stocks in the US and reduced Iranian crude shipments as US sanctions deter buyers
Pricesfree3 Sept 2018Nylon filament yarn markets continued to remain supported by hikes in caprolactam and nylon chip costs. Demand was stable as textile producers operated at stable run rates with good liquidity of FDY, DTY and POY
Insightfree3 Sept 2018According to the latest USDA’s Weekly Export Sales Report of week ending 23 August, net sales of 150,600 RB for 2018-9 were reported for China (44,500 RB, including decreases of 500 RB), Vietnam (30,400 RB, including 4,400 RB switched from China, 1,700 RB switched from South Korea, and 300 RB switched from Thailand), Pakistan (20,400 RB), South Korea (16,400 RB), and Bangladesh (8,800 RB). Reductions were reported for Japan (2,300 RB) and El Salvador (1,600 RB).
Pricesfree28 Aug 2018The second round of US and China tariffs, comprising 25% on US$16bn of imports on each side and going into effect on 23 August, is likely to hit US commodity chemical exports to China far harder, as the impact on comparable China exports to the US would be negligible
Insightfree28 Aug 2018Cotton net sales of 188,000 RB for 2018-19 were reported for Vietnam (73,000 RB, including 6,600 RB switched from Japan, 900 RB switched from Taiwan, 800 RB switched from South Korea, and 200 RB switched from Indonesia), Malaysia (43,400 RB, including 700 RB switched from Japan), Pakistan (27,500 RB, including decreases of 1,900 RB), Indonesia (22,100 RB, including 9,000 RB switched from Japan), and Peru (10,800 RB)
