In Shengze, offers for 32s and 45s polyester yarn were flat in the first week of October. In Qiangqing, offers for 32s weaving rose US cents 3 a kg on the week.
Spun polyester yarn prices remained stable in China with moderate sales and modest transactions. However, offers for PSF were seen US cents 2-3 a kg that week, which can impact yarn prices later next week.
Demand for high-quality unbleached white virgin and pure black 32S yarns was seen picking up.
Asian PTA markers remained flat in the first week of October. In China, offers for nearby-month goods were flat from pre National Day holiday, and potential discussions were between US$600-605 a ton.
Purified terephthalic acid prices remained flat all days that week amid in thin trade although market participants were bullish on prices in the near term after crude surged and feedstock paraxylene price rose on the week.
Asian MEG price inched up US$5 a ton CFR South East Asia and CFR China in the first week of October. In China, offers for nearby-month goods were at US$635 a ton, against counter offers of US$630 a ton.
Mono ethylene glycol prices inched up day on day since midweek on firmer sentiment led by crude oil markets. Supplies remained tight on lower plant run rates while Shell plans to restart Singapore cracker in few weeks. Taiwan's Nan Ya will shut its No. 2 MEG plant next February for annual maintenance.
In Qianqing, PC (65/35) 32s yarn prices were stable in the first week of October while 45s PC combed yarn prices rolled over during the week. 32s PV (65/35) were steady on the week.
Blended yarn prices remained stable in China and Pakistan while they slid slightly in India on weak demand. In China, local fabric market picked up somewhat, thus yarn spinners ramped up the run rates as prices had also bottomed out ahead of the National Day holidays that week.
In Shengze, offers for 32s and 45s polyester yarn fell in the last week of September. In Qiangqing, offers for 32s weaving fell US cents 3 a kg on the week.
Polyester yarn offers in China were stable to down amid limited transaction volume and mute enquiring atmosphere. Yarn producers bought small volume of raw material as they were cautious during the National holiday and after.
Asian PTA markers moved up slightly US$2-3 a ton CFR China and CFR Southeast Asia in the last week of September. In China, offers for nearby-month goods were slightly lower, and counter offers fell US$5 a ton on the week.
Purified terephthalic acid price edged up slightly in Asian markets ahead of plant shutdowns. China's Yisheng Dahua Petrochemical plans to shut both its PTA plants at Dalian with 2.2 million ton a year capacity for two weeks from H1 October while South Korea’s Taekwang Petrochemical has shut 1-million-ton PTA plant for maintenance in Ulsan.
In Shengze, offers for 32s polyester yarn remained unchanged in the third week of September and 45s were stable on the week. In Qiangqing, offers for 32s weaving were steady on the week.
Spun polyester yarn offers were lowered somewhat in Shengze region of China amid thin enquiring and selling sentiment. Mainstream offers for 32s and 45s down US cents 3 a kg reflecting the last week’s moderation in PSF prices.
Asian PTA markers slipped US$3 a ton CFR China in the third week of September. CFR Southeast Asia and CFR India markers were also assessed down on the week. Yisheng Petrochemical’s offers edged down US$4 a ton.
Purified terephthalic acid prices moderated somewhat in Asian markets as demand remained weak, particularly in India. Several PTA units in China are expected to restart from maintenance soon including Yisheng's plant at Hainan, and Hengli's plants at Dalian. In China, PTA markets remained under fluctuation with high-end prices retreating and low-end numbers picking up.
Asian MEG was cheaper by US$11 a ton CFR South East Asia marker and CFR China in the third week of September. In China, offers were at US$630-35 a ton, changing marginally in the first half of the week and deals were talked and concluded at US$630 a ton. By weekend, buying interest weakened, and central values fell by US$10 a ton.
In Qianqing, PC (65/35) 32s yarn prices declined in the third week of September while 45s PC combed yarn prices rolled over on the week. 32s PV (65/35) were unchanged on the week. Blended yarn prices stayed unchanged in the week in China, more in line with the current stabilization of cotton prices. However, PSF prices did moderate, but still high cotton prices has apparently neutralised blending opportunities.
