In China, medium-length staple fiber and cotton-type staple prices were steady in Yuan terms but were down US cent 1 a kg, due to weak currency. Offers for Taiwan origin 3D bright ASF tow inched up US cents 3 a kg at the lower end in the third week of October, while regular specs were unchanged on the week.
Acrylonitrile prices remain range bound in Asia, US
Asian acrylonitrile markers, the CFR Far East Asia remained flat again in the third week of October while Southeast Asia rolled over on the week. In China, offers for offshore cargoes remained range bound during the week.
Acrylonitrile prices in Asian markets were flat for the fourth consecutive week after they surged dramatically end-September. Meanwhile, term contract discussions for 2017 began while Mitsubishi Rayon’s ACN plant will restart in early November.
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China buys more spun yarn from Vietnam, halves yarn import from India
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India’s spun yarn exports in September 2016 declined 30.2 per cent in volume terms while it was down 24.3 per cent in value terms. The average per unit realisation was down US cents 3 a kg from previous month and up US cents 24 a kg as compared to September 2015.
China’s yarn imports from Vietnam surged 34% in September from a year earlier whereas Indian shipments to China were down 56%, and imports from Pakistan have lost 30%.
Asian MEG market hit a 6-week high on firm sentiment
Asian MEG prices surged US$24 a ton CFR China and CFR South East Asia marker in the third week of October. Mono ethylene glycol prices in Asian markets hit a 6-week high on firmer sentiment as CFR China assessment rose steadily throughout the week gaining roughly 6.5% since third week of September.
In China, trading values jumped US$20 a ton on the week. MEG market was under fluctuation influenced by the listing on Dalian Commodity Exchange. There were favorable factors, like rising crude oil and strengthening bulk commodities amid healthy run rates of polyester units.
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Paraxylene price inches up across all regions
Asian paraxylene prices inched up US$4.70 a ton CFR Taiwan/China and FOB Korea in the third week of October. Paraxylene price were up in Asian markets as downstream January PTA futures fell and JX shutting its Kashima plant after a fire broke out on 20 October. However, market outweighed the effect of a sudden plant shutdown. Mixed xylene offers for December cargo also fell with December Brent crude down weekend.
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Viscose yarn price declines in India, China
In China, 30s spun viscose prices fell US cents 3 a kg in Xiaoshan in the third week of October while 40s compact sirospun yarn prices in Jiangsu were down US cents 6 a kg on the week.
Viscose spun yarn prices continued to drop in China despite market seeing smooth, leading to snug supplies of some specs. Upstream VSF prices also inched down easing cost support to yarn markers. Offers for Xiaoshan-origin 30s yarn dropped to maintain demand at certain level. However, yarn makers resisted any sharp decline in prices to avoid the new downward trend to further depress markets.
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Blended yarn price jumps amid strong demand
In Qianqing, PC (65/35) 32s yarn prices were up US cents 2 a kg in the third week of October while 45s PC combed yarn prices rolled over on the week. 32s PV (65/35) were stable during the week.
Blended yarn prices jumped that week in China on stronger demand, as usual in this period of the year. Margins rebounded at spinning mills, as cotton prices weakened post National Day holidays. However, rising PSF prices remained a major cost support.
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ASF prices steady in Asian markets
Offers for Taiwan origin 3D bright ASF tow rolled over in the second week of October while regular specs were unchanged on the week. In China, medium-length staple fiber and cotton-type staple prices remained steady in Yuan terms on the week but were down US cent 1 a kg, due to weak currency.
Acrylic staple fibre prices were steady on the week although upstream acrylonitrile prices turned stable to weak on increased production. Supply increased somewhat, with run rate up from last week.
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Acrylonitrile prices surge in Europe while flat in Asia
Asian acrylonitrile markers were flat in the second week of October. In China, offers for offshore cargoes were range bound during the week.
Acrylonitrile prices were flat across the board that week in Asian markets amid thin trade and limited spot interest. In China, talk remained thin despite return from holiday amid limited discussion.
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MEG price moves up in Asia, falls in US
Asian MEG price rose US$2 a ton CFR China and CFR South East Asia in the second week of October. In China, trading values surged US$10 a ton on the week.
Mono ethylene glycol prices in Asian markets were relatively steady amid stable fundamentals and supply demand seen balanced. There were many favorable factors that week in Asian MEG markets, including significantly rise in crude oil values, reducing inventories, healthy run rates of downstream polyester units and rumours about problems on Shell Singapore’s unit.
