Cotton producers in Azerbaijan will get subsidy in the amount of AZN0.1 per kg or raw cotton sold to processing enterprises.
The subsidy concerns raw cotton produced in 2016 and sold to the processing enterprises.
The Cabinet of Ministers is to set the rules on giving of subsidies agreeing with the Azerbaijani president within fifteen days and solve other issues arisen from the order.
Asian MEG markers were down US$18 a ton CFR South East Asia and CFR China in the second week of September. Offers for nearby-month goods were around US$640 a ton, against counter offers of US$630 a ton. MEGlobal nominated contract price for October was up US$20 a ton CFR Asia from September number.
Asian paraxylene fell US$21 a ton CFR Taiwan/China and FOB Korea in the second week of September. Isomer-grade mixed xylene declined US$12 a ton FOB Korea on the week.
Paraxylene prices declined sharply back to 8 weeks low as market activity was thin amid holidays in key Asian markets. This also pulled down the paraxylene-naphtha spread further below US$400 a ton mark. Isomer-grade mixed xylene also slumped week on week.
In China, FDY70D/24F SD prices were up US cents 2 a kg on the upper end in the second week of September while FDY40D were up US cents 7 a kg at lower end. DTY 70D/24F prices also rose US cents 2 a kg while 30D/10F were up US cents 6 a kg. Monofilament 30D prices were flat while nylon staple fiber 1.5D prices were stable during the week.
Asian caprolactam markers, the SE and FE was flat in the second week of September while Japanese goods were stable on the week. In China, offers for liquid spot rolled over while solid goods offers were higher during the week.
Caprolactum prices were range bound amid modest demand and almost stable raw material benzene cost. In China, offers for both liquid and solid goods rolled over. Mainstream values for South East and East European goods marched higher.
In Qianqing, PC (65/35) 32s yarn prices declined US cent 1 a kg in the second week of September while 45s PC combed yarn prices rolled over on the week. 32s PV (65/35) were flat on the week. Blended yarn prices, mostly spun with cotton, declined in China while PV yarn prices were more stable given the moderation in cotton prices and firmness in PSF and VSF prices.
In Xiaoshan, 30s spun viscose prices in Xiaoshan inched up US cents 3 a kg in the second week of September while 40s compact sirospun yarn prices in Jiangsu were stable on the week.
Viscose spun yarn prices generally remained unchanged across India, China and Pakistan markets, but weakening currency against US$ pegged prices in US$ terms lower in India and Pakistan. In Jiangsu, core-spun yarn prices mostly climbed and it was reported that the deliveries to Puyuan market were favorable.
In Shengze, offers for 32s polyester yarn rolled over in the first week of September and 45s were stable on the week. In Qiangqing, offers for 32s weaving were steady during the week.
Spun polyester yarn offers were stable in China, and sales of some sporadic specs were little better previous weeks. Spun yarn plants in Zhejiang remained shut down due to the G20 summit and started to resume in succession late that week. This, demand will improve slightly in coming week.
Asian PTA markers rose US$5 a ton CFR China in the first week of September. The South Korea/Taiwan marker was also up on the week.
In China, offers for nearby-month goods were at US$610-615 a ton, and negotiations surged similarly to US$605-610 a ton. Yisheng Petrochemical’s offers were stable during the week.
Offers for Taiwan origin 3D bright ASF tow rolled over in the first week of September while regular specs was stable on the week. In China, medium-length staple fiber and cotton-type staple prices also rolled over during the week.
Acrylic staple fibre prices were kept stable that week as push from rising acrylonitrile cost was countered by the bearish force from unsatisfactory downstream spun yarn performances. In China, downstream sentiment picked up and market liquidity improved somewhat, resulting in lower inventory levels.
