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 week’s 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.

EU to remove antidumping duties on S Korean polyester fiber products [ 08 Mar, 2010]

The European Union (EU) will remove its antidumping duties against South Korean polyester fiber products next week, South Korea's trade ministry said Monday.

The removal of antidumping duties of up to 10 percent on polyester fiber products from South Korean companies is set to begin on March 18, the ministry said, which have been in place since 1993.

The announcement comes following relentless calls by South Korean companies of polyester fiber to lift the EU's antidumping tariffs on its products, which has reached 1.3 billion U.S. dollars in exports to the EU countries in 2009, according to the ministry.

Polyester stable fiber is used to stuff products in bedding, clothing, furniture, toys, and other non-woven applications, it added.

Source: Xinhua

Polyester Chain: PFY Dearer [ 01 Feb, 2010]

Ethylene prices gained further in Asian markets, particularly NE Asia where prices were sustained by replenishments coupled with tight naphtha availability. However, buying interest was low and had started to decline. Prices in SE Asia dipped a bit. Ethylene was dearer in USA while European numbers were steady. Downstream, MEG market sentiment in Asia slumped due to ample supplies and poor economic environment in China as Government tightened credit policy. Prices softened by almost 5%.

Paraxylene prices declined in Asian and European markets influenced by falling crude oil prices and weak support from downstream PTA market. Asian PTA market sentiments weakened and prices slumped 3%. Polyester chips prices remained flat and numbers rolled over from previous week with no support from upstream; PTA and MEG. Polyester filament yarn prices were raised in China influenced by the past weeks rise intermediates prices. Although, they were cheaper this week, they were still high from the polyester producers’ point of view. Asian polyester market sentiment was in stable-to-poor condition and trading was thin. In China, PSF producers raised their offers sharply followed by mainstream prices with small little support from downstream.

Source: YnFx.com