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Related Keywords: Currency devaluation, RMB devaluation, textile export, yarn export, yuan devaluation

The People’s Bank of China (PBC) devalued the Renminbi (RMB/Yuan) on 11 August by 2015 by 1.9%, the largest one day devaluation since 1994. The ‘daily fix’ of the currency to the US$ moved out to almost 6.23 Yuan versus 6.1162 Yuan the previous day. Although the move spooked global markets and raised yet more concerns about the health of the Chinese economy, it will be interesting to gauge its impact on global trade, particularly that of textiles.

Related Keywords: cotton yarn export, yarn export, yarn export to china, Yarn import in china, yarn prices in china, yarn prices in India

Spun yarn imports from India have rebounded in the past month in China, reveals the latest “ YnFx - Fibre and yarn Exports - India Report. Yarn export to China was extremely sluggish since May 2014 falling year on year and saw some rebound in May 2015. In June 2015, exports jumped 105 per cent in volume and 80 per cent in value.

In the week of 24 July cotton yarn markets saw marginal fluctuation but were mired in sluggish transactions, with downstream placing thinner orders. In China, sales of regular and high-quality yarns were passable, and those of high-count and combed yarns were limited. Spinners were implementing production cutbacks, and liquidity lagged in most deals. 32s cotton yarn in Shengze market were down US cents 4 a kg on the week while 21s were flat at US$3.07-3.14 a kg.

Related Keywords: cotton yarn price, polyester yarn price, Spun yarn price, yarn prices in china, yarn prices in India, yarn prices in Pakistan

VSF markets remained northbound in the week ended 24 July, but the upward momentum somewhat decelerated given the recovery in production and hard to push cost pass-on to downstream buyers. In China, producers raised offers for medium-end and high-end goods while transactions followed up gradually. In China, offers for medium-end VSF were raised US cents 5 a kg from previous week high-end VSF was dearer by US cents 6 a kg. Downstream spun yarn markets were range bound weakly given the distinctive off-season atmosphere and mills cautiously purchasing VSF at high price levels.

Related Keywords: hard wood pulp price, soft wood pulp price, VFY price, Viscose fibre price, viscose filament price, viscose price in china, viscose price in india, viscose price in Pakistan, Viscose pricing, VSF price

Related Keywords: MEG price, pfy price, polyester filament price, polyester price in asia, polyester price in Europe, polyester price in USA, Polyester pricing, polyester staple price, psf price, PTA price

In the week ended 17 July, the Asian ethylene markets continued to be hit by weak demand amid ample supply while prices touched a four-month low. The spread between North East and South East was at its widest in 11 months as the two markets saw diverge trend. Asian markers CFR NE was down US$20 a ton while SEA CFR fell US$35 a ton on the week. The ethylene-naphtha spread was wide at US$65 a ton.

Related Keywords: Benzene price, carolactum price, ny;lon filament price in USA, nylon filament price in asia, nylon filament price in Europe, nylon price in Asia, nylon price in Europe, nylon price in USA, Nylon pricing

The nylon chain was no exception to the falling crude oil prices. The fall in oil prices which began after they peaked in June 2014 continued for another year and is slated to march south for a few more months from now. Asian benzene prices started falling from August while its derivative caprolactum followed suit e in September. Both continued to fall until January with benzene touching a trough in January and caprolactum in February.

Related Keywords: MEG price, polyester filament price in asia, polyester filament price in Europe, polyester filament price in USA, polyester price in asia, polyester price in Europe, polyester price in USA, Polyester pricing, PTA price

Given the rapid changes in prices of polyester feedstock ethylene and paraxylene prices, their respective derivatives reflected similar trends year on year. Asian MEG markets fluctuated widely opening June and prices jumped in line with the ethylene and PTA market. They fell in the third week on short selling and bearish polyester markets as the peak season drew to a close. Prices, however, climbed again June-end on expanding downstream operating rates. Meanwhile, MEGlobal nominated Asian July contract price at a roll over. Asian spot was down 1.5% in June and 4.8% from a year ago.

Related Keywords: ethylene prices, naphtha price in asia, naphtha price in Europe, naphtha price in USA, paraxylene prices, petrochemical prices, Polyester pricing

Watching the fall in polyester chain for about a year now, one segment which has apparently escaped the trend is the ethylene chain including its derivative mono ethylene glycol segment. Crude oil prices had peaked in June 2014 and started their downward journey thereafter. Many factors were responsible for their fall, with supply glut being an important one.

Polyester chain prices have started reflecting the deflating oil prices. Beginning at the upstream ethylene prices fell in Asia but gained in US on supply imbalance. Similarly, paraxylene markets moved either sides across markets. In contrast, downstream PTA and MEG markets edged up seeing demand revival for both and recovering past week’s fall. Filament yarn and polyester were in tandem with raw material pricing in the week ended 26 June 2015.

Related Keywords: ethylene price, MGE price, mono ethylene glycol price, paraxylene fibre price, Polyester price, polyester price in asia, PTA price, purified terephthalic acid price

Viscose or rayon fibre markets saw some improvements both in demand-supply fundamentals and prices in the last week of June. In China, availability of high-end goods shrank significantly with Sateri’s two lines idled for some time. Further, post Dragon Boat Festival, active demand in both domestic and overseas markets emerged and producers adjusted offers upwards in the week. Prices were also seen moving up in Pakistan while they rolled over in India.

Related Keywords: rayon price, viscose filament price, Viscose price, viscose staple fibre price