http://www.yarnsandfibers.com YarnsandFibers Textile PriceWatch en bharati@yarnsandfibers.com YarnsandFibers Tue, 16 Mar 2010 05:06:21 -0600 Tue, 16 Mar 2010 05:06:21 -0600 http://www.yarnsandfibers.com/images/topbanner_logonew.gif http://www.yarnsandfibers.com/rpricewatch/index_main.php3/ http://www.yarnsandfibers.com/rpricewatch/index.php3 ASF Although acrylonitrile prices in Asia softened this week they were still relatively firm for the acrylic fibre market. Some producers/sellers continued to raise offers while downstream purchases were flat. Firm feedstock values were still a major support for acrylic fibre markets but rising trend was hard to pass onto downstream. With feedstock prices unlikely to retreat coming week is likely to see ASF prices treading upwards. http://www.yarnsandfibers.com/rpricewatch/index.php3 Wool The Australian wool market closed slightly firmer this week in the south pushing overall EMI by Aus cent 1 while the gains in US currency terms were significant. The EMI at Aus$9.16 a kg, ended the week at US$8.39 a kg, up US cents 13 from previous week. The North Australia index closed at US$8.62 a kg, while West Australia was at US$8.45 per kg. The South Australia Index closed at US$8.19 a kg. http://www.yarnsandfibers.com/rpricewatch/index.php3 Cotton Cotton prices softened a bit in USA, India and Pakistan this week while they climbed to higher level in China. The drop is attributed to low demand from spinners, as yarn producers were mostly covered for the coming period. But a lack of cotton this season could further boost prices when stock would be digested by yarn producers. http://www.yarnsandfibers.com/rpricewatch/index.php3 VFY Viscose filament prices were not raised as decided in the conclusive industry meeting held last week in China. However, prices were expected to gain US cents 14-15 a kg by the end of this week. However, market sentiment in China and India were stable and prices rolled over previous weeks numbers. Demand had not improved as expected although downstream like in the previous week which saw steady recovery and brisk selling in China. http://www.yarnsandfibers.com/rpricewatch/index.php3 VSF The Asian VSF market sentiment continued to remain firm and prices were up beginning with producers hiking their offers and later markets accepting the increases. In China, the rise in cotton pulp prices supported viscose market and traders in anticipation of further hike were actively purchasing for inventory built-up. Demand from spinning mills improved as worker recruitment resumed steadily. http://www.yarnsandfibers.com/rpricewatch/index.php3 Propylene In Asia, propylene market atmosphere stable in line with crude oil price, which hovered around US$81-82 a barrel for most of the week. Asian prices were stable on support of the outages of three units at Japan\'s Mitsui and Mitsubishi in the preceding week. In addition, at least thirteen propylene units will be shut for turnaround between February and June. http://www.yarnsandfibers.com/rpricewatch/index.php3 NFY Nylon filament prices increased this week as producers raised their offers in China due to high cost pressure. However, the hike was limited by modest buying interest as most downstream producers had ample materials resulting in not strong demand for nylon filament. Coming week, it is expected that nylon prices will remain high but the increase likely to be modest. http://www.yarnsandfibers.com/rpricewatch/index.php3 Polyamide Chips The previous weeks gain in caprolactum had increased cost pressure on nylon chip producers pushing them to raise their prices this week. In China, demand was modest and downstream buying was generally for replenishment and in small quantities. It is expected that chip prices will remain at high level in coming weeks as the markets expect demand to improve further. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates Caprolactum supplies in Asia markets were still tight though many units operated at full capacity. Crude oil and benzene prices also rebounded, supporting caprolactum value. However, prices softened a bit as downstream demand weakened and expected increase in supplies in coming week. Coming week, the markets are expected to make correction on the adjustment of benzene, tight supply and slightly softening downstream demand. http://www.yarnsandfibers.com/rpricewatch/index.php3 Benzene Benzene prices rebounded this week, partially regaining the previous weeks loss across markets of Asia, Europe and USA. Prices were largely supported by crude oil prices hovering around US$81-82 a barrel mark in the entire week. Reportedly, there was plenty of benzene in Southeast Asia and about 6,000 tons would be shipped from Indonesia to Jubail (Saudi) in mid March. Nippon Oil of Japan announced March contract at US$935 a ton CFR, down US$15 from February number. http://www.yarnsandfibers.com/rpricewatch/index.php3 PSF Asian polyester staple fibre market sentiment was ranged bound this week with prices weakening in China. However, offers from Taiwan/Korea were up while prices in India and Pakistan rolled over previous weeks numbers. Downstream spun polyester market in China was sluggish and yarn prices were fluctuated amidst stability. Coming week, it is expected that PSF prices will remain stable. http://www.yarnsandfibers.com/rpricewatch/index.php3 PFY Asian polyester filament yarn market trend was mixed this week. While prices softened in China, the Malaysian/Indonesian markets witnessed sharp rise. DTYs were dearer in Pakistan while Indian PFYs were gaining in weakening US$. Cost pressure had eased a bit as both MEG and PTA market sentiments was sluggish on uncertain demand curve. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates With Asian PTA market sentiments lusterless and MEG prices softening, the polyester chip market had no cost support this week. However, prices inched up as polyester units in China resumed operations and demand was expected to pick up steadily. But demand was hard to improve substantially in the coming weeks because chip spinning mills had ample stock for operation. Thus prices would see some soft adjustment next week. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates Asian PTA market sentiment was sluggish this week with prices first rising and then declining at the end of the week. However, they were up compared to last week. The last week-end robust demand pushed prices up in first half of the week, but weakened dramatically on low buying interest at downstream sectors and lower than expected Chinas economic data. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates MEG sentiment weakened this week and prices dropped in Asian market, reflecting the softening of ethylene cost. Although, prices inched up early this week on robust demand from downstream, sentiment softened as sales went bearish amid high inventory. In second half of the week, buying interest also weakened. http://www.yarnsandfibers.com/rpricewatch/index.php3 Paraxylene Asian paraxylene prices more than regained the previous weeks loss as the markets were concerned about cutbacks or shutdowns of plants in Asian region due to low paraxylene-naphtha crack. European prices too mirrored the Asian price line. Ample supplies had driven down Asian paraxylene values to a 5-month low in the preceding week. http://www.yarnsandfibers.com/rpricewatch/index.php3 Ethylene Ample ethylene supplies from Middle East region led to a further drop in prices in SE and NE Asian markets. However, European numbers were seen inching up after a steady previous week. Reportedly, around 2,000-3,000 tons of ethylene was slated to arrive in early April. Most end-users had stock up to mid-April, while ex-Middle East cargoes were flooding the region. http://www.yarnsandfibers.com/rpricewatch/index.php3 Naphtha Asian naphtha prices increased for four straight sessions this week and benchmark naphtha versus Brent crack spread climbed to the high of US$153 a ton on improved sentiment after demand uncertainties in Japan resulting from Mitsui Chemicals\' cracker outage. Despite the improvement, market remained in a state of flux as it struggled to find market value following buying interest from South Korea for cargoes that were concluded at very different price levels. http://www.yarnsandfibers.com/rpricewatch/index.php3 Crude Oil Crude oil was traded above US$82 a barrel in New York, poised for a second weekly gain, as dollar weakened and the IEA bolstered its outlook for oil demand. The International Energy Agency raised its forecast for global oil demand this year as consumption in Asia increased more than expected. The dollar weakened, raising the appeal of crude for hedging inflation, and European stocks rose, extending the Stoxx Europe 600 Index\'s second weekly advance. http://www.yarnsandfibers.com/rpricewatch/index.php3 Wool The Australian wool market eased Aus cent 4 while in US currency terms the EMI gained this week. The EMI at Aus$9.15 a kg, ended the week at US$8.26 a kg, up US cents 9 from previous week. The North Australia index closed at US$8.52 a kg, while West Australia was at US$8.34 per kg. The South Australia Index closed at US$8.03 a kg.