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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
Indonesia - API reject anti dumping duty on import PSF [ 09 Aug, 2010]
The implementation plan of anti-dumping duties (BMAD) for Polyester Staple Fiber (PSF) import that recommended by the Indonesian Anti Dumping Committee (KADI), rejected by Indonesian Textile Association (API). Because, it will have a negative impact on the spinning industry and derivatives sector. As is known, KADI BMAD has recommended imposition of PSF imports from India, Taiwan, and China on May 11, 2010.
According to Chairman of the API, Ade Sudrajat, PSF is the main raw material to produce yarn. Last year, the number of national PSF industry there are as many as 30 companies, compared to its derivatives sector, which amounts to 225 companies spinning, fabric manufacturer company as much as 1067 units, and the garment industry as many as 996 units.
"We will not force on it; the government please sees the conditions. Please consider governments which serve as the national interest," he said. In addition, he argued, would hamper the implementation of supply BMAD PSF for textile industry users. PSF producers nationally, plans for stopped production (overhaul). Thus, he said, this could further aggravate the supply.
Ade explained, overhauling PT TIFICO in July 2010 for 3-4 weeks can result in shortage of 10 thousand tons. In addition, he said, overhauling PT Sulindafin in September 2010 for 2-3 weeks led to shortage of 2500 tons. While overhauling PT ITS in October 2010 will cause the projected shortage of 5,000 tons. "In 2009, 30 companies of national PSF produces approximately 500 thousand tons, approximately 286 000 tons were exported," he said.
Meanwhile, he continued, in 2009, to supply yarn spinning industry, supplied from within the country as many as 214 000 tonnes and imports approximately 749 thousand tons. Thus, the dependence on PSF imports will be large indeed. "This condition is not considered KADI," he said. Ade said, the performance of the domestic processing industry will decline because the application of BMAD. As a result, he said, domestic exports will be eroded.
Meanwhile, Ade said, PSF prices in the country also began to rise. PSF prices, he said, on June 9, 2010 in Malaysia, Taiwan, and Thailand valued at USD1, 32 per kg, while in China valued at USD1, 28 per kg. Local PSF price today is $ 1 0.48-USD1, 52 per kg. "If the count is calculated, local prices into account as if it had BMAD. There are an attempts local PSF producer to raise prices is not rational, "he explained.
Ade explained, the high local PSF prices triggered by the phantom loads that must be borne by the company. That, he said, is a condition that must be addressed urgently government. "On the one hand, because not a major export destination, the bargaining position of the user industries in the domestic PSF weak. Evidently, some exporters were not cooperative during the investigation by KADI," he explained.
Meanwhile, Ade said it was identifying a number of HS textile products that require an instrument of trade protection (safeguard) or anti-dumping. "We are still identified. Maybe, next week could already be informed of details," said Ade.
Source: Indotextiles
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