Polyester filament yarn prices in China continued their downtrend while other Asian markets were calm and prices rolled over previous week’s numbers in Pakistan, Malaysia/Indonesia and India. In China, the Jiangsu PFY market saw sporadic price hikes while in Shengze, local major quoted flat. However, the offers for FDYs of some specs were pegged at higher price due to the turnaround of units. In Zhejiang, PFY market also saw slower rises with only sporadic increases.

Polyester Chain: PFY softens while PSF gains [ 23 Aug, 2010]

Polyester upstream ethylene prices gained in Asian and USA markets pushed by rising feedstock naphtha values and tight market supply. Demand from downstream derivative markets was also buoyant, particularly from polyethylene markets. However, demand in Japan was seen dropping. Similarly, Asian paraxylene prices regained the previous week’s loss while European markets saw prices weakening following an uptrend last week. Based on ethylene strengthen and a low previous week’s base, Asian MEG market picked and prices regained their previous week’s losses. The inching up of paraxylene prices in a narrow band provided limited cost support to PTA markets in Asia. Prices gained marginally.

The Asian polyester chips markets however, were in stalemate as demand from China declined and cost support from upstream was limited. Mixed trends were seen in Asian polyester markets with prices of filament yarn going down and PSF becoming dearer. PFY prices weakened in China while the Karachi market of Pakistan reported strengthening of DTY numbers. Malaysia/Indonesia and Indian prices rolled over previous week’s numbers. Asian polyester staple fibre market sentiment was steady and prices moved up in China while they rolled in Taiwan/Korea, India and Pakistan.

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Source: YnFx.com

Polyester Chain: Values up [ 02 Aug, 2010]

Feedstock ethylene and paraxylene markets led the polyester markets as crude oil prices remained in a narrow range as poor economic news gripped the oil markets. Ethylene prices regained their previous week’s loss in Asia while those in USA inched up further. European numbers too rose and also lured cargoes from Middle East and US away from Asia.

Paraxylene prices were at five week-high as supplies declined. MEG and PTA markets continued their uptrend. Inquiries for MEG had increased while most sellers held back sale at low prices. PTA prices were influenced by rebound in China PTA futures and positive uptrend in MEG market. Traders were more interested in short-covering. Passable PTA market and pick up in MEG values supported polyester chip markets in Asia. Polyester filament yarn prices increased on cost support and short-covering by buyers as the month came to a close. In China, restrictions on power continued leading to cut in production and availability. Polyester staple fibre market sentiment trended up on firm PTA and MEG markets. However, trading interest was weak in China and demand had apparently stabilized.

Source: YnFx.com