In Qianqing, PC (65/35) 32s yarn prices rolled over in the last week of January while 45s PC combed yarn prices were stable on the week. Blended yarn prices were seen gaining grounds owing to rising cotton and cotton yarn prices. In China, yarn markets were generally shutting down for Lunar New Year holidays while imports continued rebounding in recent months.
PTA price gains amid tight supply in Asia
Asian PTA prices were up US$8 a ton CFR China and CFR Southeast Asia in the third week of January. Purified terephthalic acid prices were up in Asian markets in line with the rise in raw material paraxylene values and amid talks of tightening supply. According to sources, there were buying inquiries seen from India recently, but the prices in China's domestic market remained more attractive than exports.
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Polyester yarn price rolls over in Asian markets
In Shengze, offers for 32s polyester yarn were steady in the third week of January. In Qiangqing, 32s weaving yarn was up US cent 1 a kg on the week.
Polyester yarn offers in China were stable amid thin transaction as producers had mostly shutdown units for the coming holiday and while downstream held low buying interest throughout the week. Prices of polyester yarn were stable in spite poor enquiry and transaction. Demand will remain thin before the Spring Festival holidays.
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MEG price edges up in Asia, Europe
Asian MEG prices inched up US$2 a ton CFR China and CFR South East Asia marker in the third week of January. Mono ethylene glycol prices inched up in Asian markets despite short supply. However, surge in prices are expected after Lunar New Year holidays. In China, MEG market fluctuated amid lusterless negotiating and trading sentiment.
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Blended yarn price inches up in India
In Qianqing, PC (65/35) 32s yarn prices were flat in the third week of January while 45s PC combed yarn prices were stable on the week, however, both were up US cents 3-4 a kg due to currency.
In China, blended yarn markets were quiet as spinners were shutting for the Lunar New Year holidays. However, yarn import prices continued rising with the Yuan falling.
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Polyester yarn price moves up in India, Pakistan
In Shengze, offers for 32s polyester yarn were offered stable in the second week of January. In Qiangqing, 32s weaving yarn was offered flat on the week.
Spun polyester yarn prices were stable in China inspite of poor enquiry and transaction. More producers shut down units with the holiday drawing near, and they lowered selling interest and demand lacked good news from downstream polyester market.
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PTA price jumps in Asia, Europe
Asian PTA prices gained US$3 a ton CFR China and CFR Southeast Asia in the second week of January.
Purified terephthalic acid markets sentiment in Asia were bullish ahead of Lunar New Year and are expected to hold steady in January amid stable-to-firm demand from China and India, unlike in previous years when the Lunar New Year period had translated to weaker sentiments. PTA price rose on the week amid talks of tightening supply while feedstock paraxylene rose week on week.
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MEG price gains in Asia, Europe
Asian MEG prices leapt US$16 a ton CFR China and CFR South East Asia in the second week of January. In China, offers for nearby-month goods edged up US$10 a ton amid thin transaction. Meanwhile, MEGlobal nominated its February MEG Asian contract price which was US$40 a ton higher from its January nomination.
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Blended yarn price inches up in India
In Qianqing, PC (65/35) 32s yarn prices rolled over in the second week of January while 45s PC combed yarn prices were stable on the week, however, both were down US cent 1-2 a kg due to weak US$. Blended yarn prices were unchanged in China, with demand actually very weak ahead of lunar year holidays. Inventories were relatively large in the textile industry, as spinners are again trapped with higher cotton prices than on foreign markets.
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PTA price gains on tight supply in Asia
Asian PTA prices gained US$12 a ton CFR China and CFR Southeast Asia in the first week of January. In China, offers for bonded PTA goods on one-day trip followed up US$10 a ton on the week.
Purified terephthalic acid prices rose in Asian markets as supply was tightening and demand from India had picked up again ahead of maintenance shutdown later this year and also in the recovery period following the demonetization crisis since November.
