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Asian MEG prices fell US$7 a ton CFR China and CFR South East Asia in the third week of June. Mono ethylene glycol prices fell on the week on negative outlook and futures in the first three days of the week but shored up by active buying week-end as traders sought to cover some short positions for H2 June and H1 July.

In US, MEG spot slips on bearishness in Asia while spot supply showed some signs of tightness, but demand to export was not strong enough to significantly impact the market. US spot MEG fell US cent 0.75 per pound FOB USG on the week.

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In Qianqing, PC (65/35) 32s yarn prices inched up US cent 1 a kg while 45s PC combed yarn prices rolled over during the week. In China, polyester-cotton prices gained marginally driven by firming cotton prices but limited by sobering PSF values.

In Pakistan, polyester-cotton and polyester-viscose yarn prices remained mostly stable with only 16s and 20s PC falling in the week. PSF prices were stuck at same level on the domestic market while cotton prices showed signs of weakening due to poor demand.

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In Shengze, offers for 32s and 45s polyester yarn rolled over in the second week of June. In Qiangqing, 32s weaving were steady during the week.

Offers for spun polyester yarns in Shengze market were stable amid limited transaction volume. PSF market was mainly covered by wait-and-see atmosphere today, and is expected to have difficulty to see significant price drop or increase in a short term.

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Asian PTA marker was up US$4 a ton CFR China while the CFR Southeast Asia in the second week of June. In China, offers for nearby-month goods were maintained at US$615-620 a ton, and buying interest was mute.

Purified terephthalic acid prices firmed up in Asian markets amid rising feedstock price and expected supply cuts. China's OPSC will remain shut during G20 summit while Hanbang will shut plants late June.

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Asian MEG prices rose US$4 a ton CFR China and CFR South East Asia in the second week of June.

As crude oil prices firmed up early in the week mono ethylene glycol prices in Asian markets were lifted in most actively traded August MEG futures.

Several traders were heard to be short-covering H2 June and July physical positions and picking up some H2 July cargoes. In China, MEG market saw tolerable buying interests for low-priced goods although the market was lackluster due to holidays.

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In Qianqing, PC (65/35) 32s and 32s PV yarn were both up US cent 1 a kg due to weak US$ in the second week of June. In China, blended yarn prices remained relatively stable lacking demand from downward processors. However, fibre prices were clearly rising which may result in higher yarn prices in coming weeks.

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In Shengze, offers for 32s polyester yarn were down US cents 2 a kg in the first week of June and 45s were stable during the week. In Qiangqing, 32s weaving were stable on the week.

Offers for spun polyester yarns were steady that week in China, as sales was hard to improve amid insipid demand. With summer approaching, end‐use demand is likely to retreat. With fabric inventory high and yarn demand sluggish, yarn producers may trim operation.

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Asian PTA marker was up US$3 a ton CFR China in the first week of June. In China, offers for bonded goods were pegged at US$610 a ton, and bids at US$595‐600 a ton amid thin liquidity. Yisheng Petrochemical list price for PTA was up US$3 a ton on the week.

Purified terephthalic acid prices recovered somewhat that week in Asian markets gaining on Tuesday and weekend as markets remained mixed with China still weak.

In India, demand was heard fading and prices were assessed lower as Reliance Industries Ltd. restarted its plant.

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Asian MEG prices rose US$7 a ton CFR China and CFR South East Asia in the first week of June.

In China, offers were generally in the range of US$605‐610 a ton while physical spot cargoes were traded at US$603 a ton CFR China from week’s open to US$608-611 a ton.

Mono ethylene glycol prices partially regained previous week’s loss in Asian markets on firm futures and traders' short-covering.

Markets were also buoyed by the late week buying interest as well as other large Chinese futures traders covering their positions.

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In Qianqing, PC (65/35) 32s and 45s were both down US cent 1 a kg due to weak currency in the first week of June. Polyester-viscose prices were seen dropping in Qiangqing (Zhejiang). Yarn import prices had slightly risen, in US$ and yuan terms.

Blended yarn prices have remained relatively stable in line with the continuous rise of cotton prices on both the domestic and import markets, whereas polyester fiber prices have further decreased negating the movement in cotton values.

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