In China, 75/72 POYs price fell US cents 5 a kg in the second week of August in Shengze while 75/36 was also down US cents 5 a kg. In Shandong, PFY market was mostly stable, with a few underpriced products up marginally. In Jiangsu, PFY market was supported by the strong PTA market. In addition, downstream buying improved significantly as the market saw a long-awaited recovery. Although prices rolled over in Yuan term, they declined sharply in US$ due to significant devaluation of the currency.
In Shengze, DTY 75/72 prices were down US cents 8 a kg on the week. In China, 150/96 FDYs were down US cents 5 a kg while 50/24 FDY prices were down US cents 6.
In India, POY producers reported good sales and raised offers. However, outlook among participants varied. POY 130/34 prices fell US cents 3 a kg on the week. DTY prices rolled over in Pakistan.
Polyester filament yarn markets were stable in the second week of August and producers mostly pegged offers stable, and several raising prices or reducing discounts. Though the market was possible to fall back again, the general outlook remained positive due to approaching seasonal peak.
Courtesy: Weekly PriceWatch Report
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