In China, offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang rose US cents 6 a kg in the week ended 24 August 2018. The same in Fujian and Shandong jumped US cents 8 a kg. PSF producers in China hiked offers in line with rising polyester chip values this week. Polyester chip prices in Asia were raised amid higher PTA and MEG cost in the week.
Major PSF producers limited their production resulting in to tight supply recently. In seasonal ebb, polyester market was supposed to be dull, but it moved differently at this time of the year.
Overall, PSF prices are expected to climb further in coming weeks amid low cash flow margins and low inventory.
Meanwhile, prices in in India were unchanged in the week. In Pakistan, PSF prices were revised up during the week with 1.4D offers up PakRs5 a kg in Karachi Market.
Polyester filament yarn producers increased their offers in the week due to low inventory and some PFY producers who had lean stocks restrained their offtake volumes. In China, 75/72 and 75/36 POY offers were up US cents 6 a kg in the week ended 24 August 2018. DTY 75/72 also rose US cents 6 a kg while offers for 150/96 FDYs rose US cents 7 a kg.
Trading atmosphere was healthy during the week as demand was normal while some producers even witnessed negative inventory.
Overall, PFY prices may inch up further in coming weeks as demand is likely to boost up more.
Courtesy: Weekly PriceWatch Report
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