http://www.yarnsandfibers.com YarnsandFibers Textile PriceWatch en bharati@yarnsandfibers.com YarnsandFibers Sat, 04 Jul 2009 04:36:41 -0600 Sat, 04 Jul 2009 04:36:41 -0600 http://www.yarnsandfibers.com/images/topbanner_logonew.gif http://www.yarnsandfibers.com/rpricewatch/index_main.php3/ http://www.yarnsandfibers.com/rpricewatch/index.php3 PSF PSF prices softened this week in China partially losing the previous weeks gains. While prices in most Asian markets were steady, PSF was cheaper in Pakistan and India due to appreciation of the US$ against the respective currencies. http://www.yarnsandfibers.com/rpricewatch/index.php3 Wool The Australian wool market was slightly up this week both in Aus$ and US$ terms. The Australian EMI ended the week at Aus$7.77 per kg, gaining Aus 2 cents compared to previous week. In US$ terms, it gained US cents 4 a kg at US$6.19 a kg. The North Australia index closed at US$6.36 a kg, while West Australia was at US$6.13 per kg, both gaining 4 cents. South Australia closed at US$6.07 a kg, up 5 cents. http://www.yarnsandfibers.com/rpricewatch/index.php3 Cotton Cotton prices trended a bit lower this week across markets. However, prices in China were looking up this week while those in Indian showed mixed trend. As per China Cotton Association cotton-planting area is expected to decline 11% to 5.21 million hectares in 2009. http://www.yarnsandfibers.com/rpricewatch/index.php3 VFY Viscose filament prices were stable this week rolling over previous weeks numbers. However, strong US$ made Indian VFY cheaper while local currency numbers were stable. http://www.yarnsandfibers.com/rpricewatch/index.php3 VSF This week viscose staple fibre prices rolled over previous weeks numbers. However, the strengthening of US dollar resulted in lower VSF values in US$ terms in Asian markets. VSF prices are difficult to increase unless activities in downstream spun rayon yarn pick up and their prices remain firm. http://www.yarnsandfibers.com/rpricewatch/index.php3 ASF Acrylic fiber market cooled down a bit and prices were stable this week, rolling over previous weeks numbers. However, appreciation of the US$ made ASF cheaper in US$ terms in most Asian markets. Offers from Taiwan were lowered this week. Downstream acrylic yarn market was entering a lean season in China thus shrinking demand for ASF. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates Acrylonitrile prices were up US$10-25 a ton in Asian markets this week on rising feedstock prices and receding of low offers form producers. Propylene spot prices have almost gained US$100 a ton from early June while acrylonitrile prices have remained almost stagnant. Given the costs pressure Asahi Kasei was considering raising its contractual price for Jul by US$100 a ton to US$1,400 a ton CFR FE Asia. http://www.yarnsandfibers.com/rpricewatch/index.php3 Propylene Propylene prices were up this week on strong crude values and on worries of lesser supplies of cargoes for July. Philippines\' Petron had reduced the 5 propylene cargoes to be sold in July to 3 cargoes. Vietnam is expected to sell its first propylene cargo in H2 July to Japan\'s Marubeni. Propylene demands from downstream PP, acrylonitrile, 2-EH and phenol segment was firming up. http://www.yarnsandfibers.com/rpricewatch/index.php3 NFY CPL and nylon chip prices were up this week and offers for nylon chips also increased, thus exerting cost pressure on nylon filament producers. Nylon chips from Taiwan pegged at US$2,150 a ton and CPL at US$1,850 a ton will provide long-term support for nylon filament prices in coming months. Expectedly, FDY, monofilament, staple, and DTY producers will raise prices to avoid losses due to heavy cost pressures. http://www.yarnsandfibers.com/rpricewatch/index.php3 Polyamide Chips Nylon chip prices strengthened further this week on rising benzene and caprolactum values. Downstream demand had improved slightly and it is expected that chip prices may go up further in coming week. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates The firm demand and rising benzene values pushed caprolactum prices up this week in Asian markets. They gained US$20 a ton in FE and SE Asia while offers from Japan and Europe increased by US$50-80 a ton. Prices are likely to remain firm coming weeks on stronger demand and rising feedstock cost. http://www.yarnsandfibers.com/rpricewatch/index.php3 Benzene Benzene prices were moderately up in Asia while they spurted in European market this week. Reportedly, deals were still concentrated on cargoes for July loading instead of August or September largely due to poor sentiments for these months. Thus, healthy sentiment in July made the market into backwardation mainly due to replenishment for prompt cargoes from end-users in Japan and SE Asia. http://www.yarnsandfibers.com/rpricewatch/index.php3 PFY PSF prices softened this week in China partially losing the previous weeks gains. While prices in most Asian markets were steady, PSF was cheaper in Pakistan and India due to appreciation of the US$ against the respective currencies. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates The narrow hike in PTA values and stable MEG prices kept PET chip market range bound this week. Prices in China were up US$15-20 a ton while offers from Taiwan were kept at previous weeks levels. PET chip prices are likely to edge down a bit on soft movement of feedstock values and sluggish crude oil numbers. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates PTA prices inched up this week on high paraxylene prices and good demand from downstream segment as they replenished inventories, particularly in China. Supplies were also reportedly limited in spot market thus pushing up prices. Coming week will see prices edging up, pushed by seasonal replenishment and firm feedstock market. http://www.yarnsandfibers.com/rpricewatch/index.php3 Fiber Intermediates MEG prices rolled over previous weeks numbers this week after gaining US$30-40 a ton a week ago. Prices are likely to edge up next week on rising ethylene prices and expected periodic replenishment by downstream segment. In China, Shanghai Petrochemical restarted its MEG unit while Honam Petrochemical shut its 250,000 ton MEG line at Daesan for a month from 20 June. http://www.yarnsandfibers.com/rpricewatch/index.php3 Paraxylene Paraxylene prices inched up a bit this week recovering the drop of the previous week in Europe and Asia. Although crude oil values were sluggish, good downstream demand has been pushing up paraxylene values. Further, Asian contractual price for June is still not declared thus delaying the nominations for July cargoes. http://www.yarnsandfibers.com/rpricewatch/index.php3 Ethylene Ethylene prices were seen dropping in US while they rose in Europe and Asia this week. Good demand, particularly in Asian region supported ethylene values to rise despite low crude and naphtha prices. However, compared to a year ago, ethylene prices are still lower by 50% http://www.yarnsandfibers.com/rpricewatch/index.php3 Naphtha Naphtha prices softened a bit in Asia and Europe on lower crude oil values this week. In Asia, naphtha prices closed this week with price indications for H1 August pegged at US$622-623 a ton CFR Japan, while H2 August closed at US$617-618 a ton CFR Japan. Both numbers were down US$4.50-5.50 from their previous weeks level. http://www.yarnsandfibers.com/rpricewatch/index.php3 Crude Oil Crude oil prices settled below US$70 a barrel this week reeling under pressure of weak stocks and on concerns that weakness in the US economy will drag on longer than expected, denting oil demand. The market shrugged off the latest data showing spending was up in May and U.S. personal income rose, well above expected growth, in the same period.