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In China, offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang fell US cents 6 a kg in the week ended 28 September 2018. The same in Fujian and Shandong were down US cent 4 a kg.

Polyester staple fibre prices were down in China while they were firm in India and Pakistan during the week.

In China, PSF offers were assessed down in the week as market saw limited buying enquiries due to national holiday. PSF suppliers carried out production cutbacks while there was lack of cost support from the upstream markets.

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Polyester markets saw price drops in the week ended 21 September 2018 on the back of lackluster trading sentiment before the peak season. October is the usual peak sales season for PFY, which is the largest user of PTA and MEG in China. Polyester filament yarn prices weakened in China due to low PSF cost and soft demand during the week. Prices in India and Pakistan were relatively firm in the week.

In China, offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang rose US cents 6 a kg in the week ended 24 August 2018. The same in Fujian and Shandong jumped US cents 8 a kg. PSF producers in China hiked offers in line with rising polyester chip values this week. Polyester chip prices in Asia were raised amid higher PTA and MEG cost in the week.

Major PSF producers limited their production resulting in to tight supply recently. In seasonal ebb, polyester market was supposed to be dull, but it moved differently at this time of the year.

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The yarn producers have urged the government to reduce import duties on the import of PSF from existing 7 percent to 2 percent as polyester prices have almost doubled in the last year. The meeting was also of the view that one of the main causes of the non viability of domestic polyester fiber chain is the protection extended to the obsolete PTA plant over the last 25 years.

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Ethylene prices in Asian markets inched up in June on expectations of increase in Chinese demand in the coming period. In Europe, spot ethylene prices rose sharply this month on cracker issues as maintenance was been conducted on the western portion of the ARG ethylene pipeline. In US, spot ethylene prices fell amid the recent restart of crackers after turnarounds and the start-ups of new capacity. Prices rose 4.2% from May in Asia while European spot inched up 1.9% on the month. US spot prices slipped 1.5% during the month.

In China, offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang jumped US cent 1 a kg in the week ended 6 July 2018. The same in Fujian and Shandong was relatively firm during the week.

PSF prices in China were raised amid firmer raw material costs and lower inventory in the region during the week. Meanwhile, downstream converters purchased only hand to mouth in the week. Prices were also supported by concerns that arose from expectations of production cutbacks by some plants, leading to lower inventory.

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In China, offers for 1.4D direct-melt-spun PSF in the third week of May 2018 moved up in the local currency while the prices were stable in US$ terms.

Polyester staple fibre prices rose further in China while they were stable in India and Pakistan during the week. In China, PSF producers raised their offers slightly in the week while transactions were still moderate.

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Asian PTA prices, CFR China was up US$10 a ton in the third week of May 2018 while CFR Southeast Asia marker also rose US$10 a ton on the week. In China, offers for bonded goods inched up US$10 a ton and discussions for nearby month cargoes were heard US$5 less than the offer prices.

Purified terephthalic acid prices in Asia edged up that week despite slightly weak paraxylene cost. Since the processing margins have been recovered a bit and plants undertook maintenance, the upward trend of PTA market will now depend on the upstream energy market.

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Asian spot MEG prices fell US$30 a ton CFR China and CFR South East Asia in the last week of April. In China, offers for nearby-month cargoes was down US$30 a ton, with bids and discussions edging down lower.

Mono ethylene glycol prices in Asian markets plunged that week on increased supply in the region amid thin trading activity. Taiwan's Nan Ya shut its 460,000 tons per year MEG line on 2 May. China’s Sinopec Shanghai Petrochem is planning to shut its 380,000 tons per year MEG plant in June.

In US, MEG prices will face upward momentum in May from tightening supply.

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Asian paraxylene markers, CFR Taiwan/China was up US$4 a ton in the last week of April while FOB Korea also rose US$4 a ton. Isomer-grade mixed xylene prices surged US$31 a ton FOB Korea during the week.

Paraxylene prices in Asia jumped that week largely driven by gains seen in the upstream crude and naphtha markets. Prices were also supported by healthy downstream buying interest during the week.

China’s paraxylene imports in March rose 21% month on month to 1.44m tons. India’s paraxylene exports in February grew 46% month on month to 202,597 tons.

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