Asian PTA spot markets were apparently dull this week and prices softened slightly. At the beginning of the week, contracts were settled slightly higher beyond expectations leading to uptrend in market sentiment. The slight upward correction in paraxylene prices the cost support was limited to PTA. In China demand was affected by the power restrictions in Zhejiang, as PET plants were operating on lower run rates. The PTA market is likely to continue to see corrections in the coming weeks.

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.

YnFx on BlackBerry is live. Get the YnFx app now and get the mobile advantage!!
Click to Download the App
http://www.yarnsandfibers.com/preferredsupplier/ynfx_blackberry_app.php

For detailed PriceWatch click here
http://www.yarnsandfibers.com/preferredsupplier/market_intelligence_pricewatch.php

Source: YnFx.com

China imposes definitive antidumping duties on imports of terephthalic acid [ 17 Aug, 2010]

On August 12, 2010, the Ministry of Commerce of the People’s Republic of China (MOFCOM) issued Public Notice No. 47 [2010], announcing its affirmative final determination in the anti-dumping investigation on imports of terephthalic acid (“TPA”) originating in Korea and Thailand.

For Korean companies, the dumping margins range from 2% to 11.2%; for Thailand companies, the dumping margins range from 6% to 20.1%. The anti-dumping measures will be imposed for five years as of August 12, 2010.

Source: antidumpingnews.com