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Related Keywords: 1 lakh power loom machines, crude oil prices, Federation of Indian Art Silk Weaving Industry, power loom units, power loom weavers, production of grey or unfinished fabrics, yarn prices, yarn spinners

Yarn spinners have gone on a spree to increase yarn prices post-Goods and Service Tax (GST), regardless of power loom industry leaders filing a complaint for artificial price hike with the anti-profiteering screening committee. The production of grey or unfinished fabrics has seen a remarkable decline from 4 crore metre per day to less than 2 crore metre per day.

Related Keywords: crude oil prices, Ethylene prices in Asia, Ethylene prices in Europe, ethylene prices in USA, European naphtha prices, meg prices in Asia, MEG prices in Europe, MEG prices in USA, Mono-ethylene glycol prices, naphtha prices, paraxylene prices in Asia, paraxylene prices in Europe, paraxylene prices in US, pfy price in China, pfy price in India, polyester chip prices in Asia, polyester filament yarn prices, polyester staple fibre prices, psf price in China, psf price in India, PTA prices in Asia, PTA prices in Europe, PTA prices in USA, purified terephthalic acid prices

Crude oil prices rose in September due to disruptions in US gulf coast aftermath Hurricane Harvey while geopolitical instability in Iraqi Kurdistan aided Brent to register its strongest third-quarter price performance since 2004. US crude prices jumped 4.2% on the month while Brent rose 7.6% as compared to previous month’s average. For September, Asian spot naphtha prices were up 10.4% on the month.

Asian marker, FOB Korea was up 8.9% in December while it declined 8.4% YoY, and CFR China rose 9.7% from November while it fell 8.5% YoY.

Propylene prices in Asian markets rose in December as downstream PP makers strengthened while Chinese ports saw congestion.

In Europe, propylene markets were on bullish contract price expectation in January. In US, December propylene offers dropped on the month.

In Europe, CG propylene jumped 6.2% from November while it was down 24.8% YoY. Spot polymer-grade propylene prices in US were down 0.7% on the month.

Related Keywords: acrylic prices, acrylonitrile prices, ASF prices, crude oil prices, Propylene prices in Asia, Propylene prices in China, Propylene prices in Europe, Propylene prices in US

In China, 1.4D PSF was up US cents 12 a kg in December. In India, 1.2D PSF prices were up US cents 6 a kg from previous month. In Pakistan, prices in Karachi were up US cents 4 a kg on the month.

Polyester staple fibre prices extended an uptrend in China as MEG prices moved up sharply. Polyester staple fibre prices moved up also because OPEC and non-OPEC members had agreed to cut oil production, supporting polyester raw materials prices to hike significantly.

Related Keywords: crude oil prices, pfy prices, Polyester prices, polyester staple fiber prices, psf prices, psf prices in China, psf prices in India, psf prices in Pakistan, PTA prices

In China, POY offers in Shengze were up US cents 5-6 a kg in the second week of December. In Shengze, 150/96 FDYs offers were up US cents 6 a kg, while 50/24 FDY were up US cents 18 a kg on the week.

Polyester filament yarn markets rallied significantly in China and India taking cue also saw prices rise in domestic market. With both crude oil and PTA futures rallying and MEG surging PFY makers maintained offers stable to firm though spot trades slowed down from later in the week.

Related Keywords: crude oil prices, MEG prices, pfy prices in China, pfy prices in India, pfy prices in Pakistan, polyester filament yarn prices, psf prices, PTA prices

Asian ACN prices declined US$70 a ton CFR Far East Asia in the second week of December while Southeast Asia fell US$75 a ton on the week. In China, offers for offshore cargoes were down US$70-80 a ton on the week.

Acrylonitrile prices caved in although feedstock propylene and crude oil values were up that week. Downstream demand was stable as acrylic fibre prices held stable, and suppliers ran at 75% capacity. ABS sentiment held firm on cost support, with domestic producers generally offering at stable rate. Acrylamide prices remained steady.

Related Keywords: acrylic prices, Acrylonitrile price in Asia, Acrylonitrile price in Europe, Acrylonitrile price in US, ASF prices, crude oil prices, propylene prices

Asian propylene markers jumped US$48-54 a ton CFR China and FOB Korea in the second week of December. Propylene prices continued to surge day on day throughout the week as downstream PP makers strengthened further while port congestion in China hated to ease. Asian markers gained 6% on the week having gained more than US$70 in just two weeks.

In US, December propylene discussions were ongoing expecting drop, with sellers and buyers still wide apart on the amount that monthly pricing should fall. Chemical grade propylene spot inched up US cents 1.50 per pound FD USG on the week.

Related Keywords: acrylic prices, acrylonitrile prices, ASF prices, crude oil prices, Propylene prices in Asia, Propylene prices in China, Propylene prices in Europe, Propylene prices in US

Asian spot benzene spiked US$108-120 a ton FOB Korea and CFR Taiwan in the second week of December. The CFR India was up US$120 a ton on the week. Benzene prices gave back a significant part of its previous week’s gains as buyers were resistant to such sharp hikes. Sellers in Asia were unlikely to compromise on prices until given the price uptrend in crude oil and feedstock was established.

Related Keywords: Asian spot benzene, benzene prices, benzene prices in Europe, benzene prices in US, crude oil prices, Latin benzene prices, toluene prices

Asian paraxylene prices although gained US$5 a ton FOB Korea and CFR Taiwan/China in the second week of February. Paraxylene markets were quiet that week and activity was thin amid Lunar New Year holidays, in most part of Northeast Asia. However, weekend saw prices rising amid surging crude oil and mixed xylene prices.

Related Keywords: crude oil prices, paraxylene price, paraxylene prices in Asia, paraxylene prices in Europe, paraxylene prices in US, PX price

Related Keywords: cotton arrivals, cotton crop, cotton ginneries across Pakistan, cotton growers in Pakistan, cotton output, cotton production of Pakistan, crude oil prices, Pakistan Cotton Ginners Association, Pakistan’s textile exports, Punjab ginneries, seed cotton arrival, Textile Industry

According to the report issued by the Pakistan Cotton Ginners Association on Monday, Seed cotton (Phutti) equivalent to 9.475 million tonnes or 9,475,729 bales have reached ginneries across Pakistan as of January 15, 2016 registering a shortfall of 33.5 per cent compared to 14.251m bales a year earlier.

This shortfall would inflict a loss of around $6 billion on GDP — of which $1.5bn would be suffered by cotton growers and $4.5bn by the industry and exporters, experts say.