YARN EXPORTS INCREASES
IN SEPTEMBER ENDING LEAN SEASON
YnFx Yarn ExportWatch – Sep
08
With Rupee losing
its advantage over the US$ and the lean export season coming to
an end, yarn exports from India increased handsomely in September.
Thus the month-on-month decline since April has apparently reversed.
In September, yarn exports increased 11% to 39.53 million kgs. The
average price realization was US$ 3.00/kg about the same as in August
2008. Export of cotton yarn and PV yarn increased by 14% and 117%
respectively, while that of polyester yarn and PC yarn declined.
India exported 32.28 million kgs of cotton yarn to about 78 countries
at an average price of US$ 3.02/kg.
Destination wise, Bangladesh was the major importer
of yarn followed by Brazil and Turkey. Exports to Bangladesh and
Turkey increased, whereas to Brazil declined. Bangladesh and Turkey
imported 5 million kgs and 3 million kgs of yarn respectively. The
respective average price was US$ 2.74/kg and US$ 3.06/kg.
POLYESTER RAW MATERIAL
PRICES DECLINED AS CRUDE OIL PRICES COOL DOWN
YnFx PriceWatch – Sep
08
The global
economy is gripped by fears of recession as the financial crisis
spreads beyond USA to Europe. Equity markets across the world, including
India have tumbled. Thus, a dim prospect on global growth has led
to a drop in crude oil demand and a strong correction in crude oil
prices. Oil prices declined further by 10 – 14 percent in
August compared to a month ago. The WTI spot averaged US$ 105.76/
barrel, a decline of 10.2%. Likewise, the European Brent also declined
14.5% to US$ 98.29/ barrel. In Far East Asia, crude oil prices averaged
US$ 94.10/ barrel. Thus, naphtha prices too collapsed in line with
crude oil prices.
ACRYLONITRILE / ACRYLIC STAPLE FIBRE GLOBAL
ANALYSIS 2008
Global acrylonitrile production and consump- tion increased 6.8%
and 8.3% respectively in 2007. This was much higher than the respective
growth rate of 4.9% and 3.9% clocked during the 10-year period of
1997- 2007. The growth of 2007 majorly came from Asia which saw
production grow 18% and consumption by 20%. However, the trend was
negative in North America and West Europe. In USA, output was down
6% while demand fell by a significant 17%. Similarly, production
in West Europe declined 4% and consumption was down 9%. Most of
the.
India - Grasim to cut viscose staple
fibre output Grasim Industries Ltd, part of the Aditya Birla Group,
said late on Saturday it would curtail its production of viscose
staple fibre (VSF) by 30 percent.
Grasim, which makes cement, chemicals and synthetic fibre, produced
62,973 metric tonnes of viscose staple fibre in the second quarter
to September, down 10 percent from year-ago.
News Flash
Germany - Lanxess to expand caprolactam production in Antwerp
China - Sep cotton imports 129,001 tons, down 45% on yr
