Polyester markets recovers in Asia, PSF producers in China raise offers

Polyester filament yarn markets remained firm in the week of 8 November in Asia and prices were seen rising for some specs. Offers for POY and FDY were hiked further sporadically in China while DTY remained stable. However, trading sentiment was lackluster, and low prices vanished gradually, as participants carried a cautious attitude amid wait-and-see sentiment. In Shengze, trading sentiment for PFY was passable as buyers cautiously bought for stocking amid rigid demand. In Pakistan, trading sentiment was insipid and small hikes were made to sporadic offers DTYs. In India, POY prices hardly moved and sentiment was low amdi declining trading volume.
In China, POYs 75/72 was pegged at US$1.76-1.79 a kg, up US cents 2 from last week, while 75/36 gained US cents 4 to US$1.74-1.78 a kg. 75/72 DTY prices, in Shengze were at US$2.26-2.31 a kg, unchanged from last week. In Pakistan, DTY prices for 150/48/0 intermingled were pegged at US$1.00-1.01 a pound, up US cents 6 on the week. In China 50/24 FDYs were pegged at US$1.82-1.86 a kg while 150/96 FDYs were at US$1.63-1.66 a kg, unchanged from last week. In India, POY 130/34 prices were at US$1.93 while 250/34 was at US$1.88 a kg, both down US cents 3 due to weak INR.
The rebound in PET chip and PFY led to a recovery in Asian polyester staple fibre markets. Polyester staple price were soft before the price rise, and the trading activity was significantly better than previous week. Earlier in the week, players showed interest in trading in line with the rebound in PET chip market. Midweek trading activity picked up rapidly fueled by soaring crude oil and price started moving up. However, downstream demand remained weak and recovery was not as expected. PSF markets are likely to remain stable in coming week but trading volume will be significantly down.
In China, most producers raised their offers, pushing the mainstream prices up. In Jiangsu and Zhejiang, 1.4D direct-melt-spun PSF was traded at 9.75-9.85 a kg (US$1.59-1.61 a kg) while the same in Fujian & Shandong was at US$1.60-1.62 a kg, up US cents 2 from last week. In Pakistan, prices in Karachi were down PakRs4-5 at PakRs.179-183 a kg, or US$1.67-1.70 a kg, down US cents 5. In India, PSF prices were stable at INR103.75 per kg, or US$1.65 per kg, down US cents 2 from last week, due to weak INR.