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In India, polyester yarn prices were up in the first week of January as PSF prices were lifted again opening January following mod-December rise. Spinners were steadily recovering from the disruption triggered by the demonetization process. Polyester yarn 30 knit yarn prices were up Re1 a kg (up US cent 1) in Ludhiana market.

In Pakistan, PSF prices have further risen pushing polyester spun yarn prices to increase in the meantime. 30s spun polyester prices gained PakRs2 per pound (up US cents 4) while 60s were up PakRe1 per pound (up US cents 2).

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In the first week of January, Asian MEG prices plunged US$49 a ton CFR China and CFR South East Asia or 5 per cent week on week.

Mono ethylene glycol prices plunged like it surged in the last week of December as demand fell closer to Lunar New Year amid high operating rates at MEG plants that produced excessively. Prices were also influenced by broader decrease in raw material cost.

In Europe, spot and January contract price jumped on Asian strength. MEG January contract price jumped Euro150 a ton while spot MEG FCA NWE offers surged during the week.

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In Qianqing, PC (65/35) 32s yarn prices rolled over in the first week of January (however, prices were up US cents 2 a kg due to weak US$) while 45s PC combed yarn prices were stable on the week (up US cents 3 a kg due to weak US$).

Blended yarn prices have remained stable in the week in China, in line with a weakness in demand, whereas fiber prices were far from receding. Spinners were forced to maintain their offers in order to keep maintain their already low margins. They were also complaining over the large volume of foreign yarns entering the country, especially from India.

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Spun polyester yarn offers In China moved up in December in line with rising PSF values despite lusterless demand. In Shengze, offers for 32s polyester yarn were up US cents 13 a kg from November.

In Pakistan, PSF prices rose as demand from yarn producers was boosted by a large price difference between cotton and polyester. 30s spun polyester was up US cents 2 a kg on the month.

In India, spun polyester prices did not react to the rise in PSF prices since early December. However, 30 polyester knit yarns were up US cents 3 a kg in Ludhiana market.

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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.

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In China, POY 75/72 prices in December were up US cents 13 a kg on the month in Shengze while Indian POY 130/34 prices were up US cents 3 a kg on the month. In Pakistan, 300/96 DTY prices were up US cent 1 per pound on the month.

Polyester filament yarn makers in China hiked offers in December, seeing buyers maintain healthy demand when prices were rising.

In India, POY offers climbed during the month, although trading atmosphere was lusterless, as downstream buying enthusiasm was quiet.

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In China, offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang jumped US cents 10 a kg in the second week of December. The same in Fujian market were also up US cents 10 a kg on the week.

Polyester staple fibre prices moved up early only to stabilize over the week as OPEC and non-OPEC members agreed on oil production cut, supporting polyester raw materials prices to hike significantly. Later US FED raised interest rates, which calmed down market sentiment.

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In China, semi dull chip offers were up US$80 a ton in the second week of December while super bright chip offers jumped US$70-85 a ton on the week. Offers for CDP chip surged US$85-120 a ton during the week.

Asian marker for semi-dull continuous spinning fibre grade chip rose US$50 a ton FOB Taiwan/Korea on the week.

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In Shengze, offers for 32s polyester yarn were up US cents 11 a kg in the second week of December. In Qiangqing, 32s weaving yarn was up US cents 7 a kg on the week.

In China, spun polyester yarn offers moved up in line with rising PSF values despite lusterless demand. Producers were considering taking a break in advance in view of fast price rises of raw materials which is forcing yarn makers to follow up amid lack of orders. Thus, producers faced margin loss and stopping operation in advance with the Spring Festival drawing near.

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Asian PTA prices gained US$13 a ton CFR China and CFR Southeast Asia in the second week of December. In China, offers for nearby-month goods surged US$10 a ton on the week.

Yisheng Petrochemical raised its selling price by US$12 a ton while Hengli Petrochemical offers were up US$10 a ton.

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