In Shengze, offers for 32s polyester yarn moved down US cents 2 a kg in the first week of March. In Qiangqing, 32s weaving yarn was also down US cents 2 a kg on the week.
Offers for spun polyester yarns of some specs in Shengze market were weakly stable on the back of limited orders. Offers also moved down accordingly on the back of poor enquiring and selling sentiment and weakened in line with PSF price that week.
Asian PTA prices edged down US$1 a ton CFR China and CFR Southeast Asia in the first week of March. Purified terephthalic acid prices slipped in Asian markets at the end of the week due to falling futures on Zhengzhou Commodity Exchange.
In China, domestic PTA market was corrected in a narrow range but was under recovery based on support from spot prices and the need to replenish inventories by end users beginning of March. Supply will increase with Thai Indorama restarted its plant in March.
Asian MEG prices declined US$52 a ton CFR China and CFR South East Asia in the first week of March. In China, prices moved down US$70 a ton early in the week, and remained range-later in the week.
Mono ethylene glycol prices dived in Asian markets on urgent sales with sellers lowering offers to avoid incurring port costs. In China, port inventories continued to swell while supply in domestic market was abundant that week. Feedstock ethylene also plunged easing cost support to MEG.
In Qianqing, PC (65/35) 32s yarn prices rolled over in the first week of March while 45s PC combed yarn prices were up on the week.
Blended yarn markets were benefiting from volatile cotton markets where prices are hating to move down. In China, yarn prices begun rebounding on the import market, which had earlier declined in the last two weeks, particularly from India and Vietnam. Chinese spinners are likely to take advantage of the new rise in import prices, if confirmed in coming days.
In Shengze, offers for 32s polyester yarn moved down US cents 2 a kg in the last week of February. In Qiangqing, 32s weaving yarn was down US cents 3 a kg on the week.
Polyester spun yarn offers moved down in China on back of poor sales and weakening in line with the fall in PSF prices that week. Offers for spun polyester yarns of some specs weakened somewhat in Shengze market on the back of moderate enquiring and trading sentiment.
Asian PTA prices fell US$11 a ton CFR China and CFR Southeast Asia in the last week of February. Purified terephthalic acid markets in Asia were under fluctuation that week, prices down amid falling raw material paraxylene cost.
In China, offers were raised beginning of that week only to slightly weaken basically corrected midweek. On Thursday, discussions for PTA edged down as paraxylene market turned weak. Thus, in the first half of that week, PTA markets fluctuated in a narrow range.
Asian MEG prices declined US$23 a ton CFR China and CFR South East Asia in the last week of February. Mono ethylene glycol prices tumbled further for the second consecutive week on lower demand and rising stock at Chinese ports.
Falling downstream PET prices also influence MEG markets. In China, MEG domestic market continued to decline notably with spot plunging on Monday to Thursday while weekend saw signs of rebounding.
In Qianqing, PC (65/35) 32s yarn prices were flat in the last week of February while 45s PC combed yarn prices were up on the week.
Blended yarn prices moved in line with fibre prices with no room for any fall. In China, PC and PV yarn prices rolled over despite PSF sobering and sluggish cotton markets. However, rising VSF price supported PV yarn markets.
Asian MEG prices declined US$40 a ton CFR China and CFR South East Asia in the third week of February. Mono ethylene glycol spot prices plunged on traders liquidating positions. Domestic MEG prices in China also plummeted due to major traders beating the market, as they were focused on liquidating their long positions.
In Europe, MEG prices declined on the week as Asian markets softened. European spot MEG prices were down Eur20 a ton FCA NWE on the week.
In Qianqing, PC (65/35) 32s yarn prices were flat in the third week of February while 45s PC combed yarn prices were up US cents 3 a kg on the week. Blended yarn prices were rising on China's domestic and import markets with PSF and VSF prices sharply increasing in the week.
In Qianqing, PC prices of higher count yarn gained following the end of New Year holidays. Yarn import prices have more sharply increased in the week, adding US cents 3-4 a kg.
