In Qianqing, PC (65/35) 32s yarn prices rose US cents 4 a kg while 45s PC combed yarn prices rolled over on the week. 32s PV (65/35) were stable on the week.
In China, PC prices were seen inching up on the week despite seasonal demand is usually low in July and any attempt to raise prices could be strongly resisted until the month end.
In Shengze, offers for 32s and 45s polyester yarn were both down US cents 2 a kg in the last week of June due to weak currency. In Qiangqing, 32s weaving were down US cents 2 a kg on the week.
Polyester spun yarn markets were calm and steady that week in China while offers were stable for 32s and 45s, with the latter seeing better demand and sales.
Asian PTA marker, the CFR China rose US$1 a ton CFR China and up US$7 a ton CFR Southeast Asia in the last week of June. In China, offers for nearby-month goods were at US$640 a ton, and counter offers were below US$620 a ton.
Asian MEG prices surged US$14 a ton CFR China and CFR South East Asia in the last week of June. In China, offers inched up and discussions followed up to above US$620 a ton.
Mono ethylene glycol prices jumped in Asian markets driven by active short covering and climbing to 1-month high mid-week. However, prices fell on weekend but cooled off after Brexit vote. In China, the market was under fluctuation before the Brexit referendum result.
In Europe, MEG prices were flat in mute market while contract price remained unsettled as uncertainty prevailed.
In Qianqing, PC (65/35) 32s and 45s PC combed yarn prices were both down US cents 2-3 a kg in the last week of June. 32s PV (65/35) were down US cents 2 a kg on the week. In China, there was negligible variation in blended yarn prices, reflecting trends on fiber markets. Demand remained relatively depressed, as usual in this part of the year. Yarn maker could however take advantage of the Brexit vote that pushed US$ up against the Renminbi. As a result, import yarn prices rose and demand from yarn buyers could decline further.
In India, polyester yarn 30 knit yarn prices regained INR1 a kg in the fourth week of June in Ludhiana market while they rolled over in Indore. Polyester yarn prices inched up in Ludhiana markets while they rolled over in Indore, reflecting regional demand/supply balance.
Asian PTA markers rose US$2 a ton CFR China and up US$1 a ton CFR Southeast Asia in the fourth week of June. Purified terephthalic acid prices were slightly up that week as G20 summit caused uncertainty about shutdowns. Upstream paraxylene cost also sobered significantly providing good margins to PTA makers.
In Qianqing, PC (65/35) 32s yarn prices rolled over in the fourth week of June while 45s PC combed yarn prices remained unchanged on the week. 32s PV (65/35) were pegged stable during the week. In China, demand for blended yarns was depressed in this part of the year and this made difficult for spinners to hike prices in line with the rise of their material costs. However, PV and PC yarn prices rolled over on the week.
In India, polyester yarn prices inched up in Ludhiana markets in the third week of June while they rolled over in Indore, reflecting regional demand/supply balance. Polyester yarn 30 knit yarn prices regained INR1 a kg in Ludhiana market while they rolled over in Indore.
In Pakistan, polyester yarn prices remained unchanged in absence of clear market direction as PSF prices were stuck at previous week’s level after global crude oil prices retreated on the week.
Asian PTA marker, the CFR China rose US$2 a ton in the third week of June while CFR Southeast Asia was up US$1 a ton on the week.
Yisheng Petrochemical kept list price for PTA at US$615-618 a ton while Hengli Petrochemical maintained its self-lifting offer at US$635 a ton.
Purified terephthalic acid prices were slightly up that week as G20 summit caused uncertainty about shutdowns. Upstream paraxylene cost also sobered significantly providing good margins to PTA makers.
