In China, offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang jumped US cents 10 a kg in the second week of December. The same in Fujian market were also up US cents 10 a kg on the week.
Polyester staple fibre prices moved up early only to stabilize over the week as OPEC and non-OPEC members agreed on oil production cut, supporting polyester raw materials prices to hike significantly. Later US FED raised interest rates, which calmed down market sentiment.
In Pakistan, PSF prices stayed unchanged but are expected to increase in the coming weeks, pushed up by higher import prices from China and Far East.
In India, PSF prices were raised early in the month, a change since April. Prices can further rise in line with the current surge seen in China.
Courtesy: Weekly PriceWatch Report
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