In Shengze, offers for 32s polyester yarn rolled over in the last week of May, and 45s were stable during the week. In Qiangqing, 32s weaving were unchanged on the week.
Offers for spun polyester yarns were steady that week in China, as demand was hard to improve amid insipid demand. Some players had rigid demand to replenish goods while sellers reported slow payment collection.
Asian PTA marker was down US$3 a ton CFR China in the last week of May. The CFR Southeast Asia was assessed flat from last week, while CFR India was up US$2 a ton on the week.
In China, offers for bonded goods dropped to US$600‐605 a ton, with bids on the either sides of US$590 a ton.
Purified terephthalic acid markets were mixed in Asia with weak prices in China while India remained firm and CFR Southeast Asia assessed flat from last week.
Asian MEG prices fell US$17 a ton CFR China and CFR South East Asia in the last week of May.
Mono ethylene glycol prices in Asian markets continued the downtrend, falling on the week due to negative outlook, falling July futures on Huaxicun and massive sell-offs in H1, H2 June swaps.
In China, MEG market was range bound at low levels that week, with average price down from previous week.
In Europe, MEG prices were stable despite Shell outage giving mixed sentiment from production and fall in Asian markets.
In Qianqing, PC (65/35) 32s and 45s yarn prices were both down US cent 1 a kg in the last week of May due to weak currency.
In China, blended yarn prices remained relatively stable in the week as cotton prices moved higher while polyester prices dropped a bit.
Demand for domestic yarn was relatively weak with import prices rather unchanged and the price difference between cheaper domestic and imported yarn reducing.
In Shengze, offers for 32s polyester yarn were down US cents 3 a kg in the third week of May while 45s were down US cents 2 a kg. In Qiangqing, 32s weaving offers were stable on the week.
Offers for spun polyester yarns in Shengze market were lowered partially, while some sporadic specs saw moderate sales. Run rate was not so high on back of poor margins.
With unsmooth sales, buying interest were very low, and players just bought goods to meet rigid demand.
Asian PTA markers gained US$3 a ton CFR China and CFR Southeast in the third week of May.
In China, bonded goods were pegged in the range of US$600-603 a ton as buyers showed low interest at above US$610 a ton. There was a spread of US$10-15 a ton between enquiries and offers for nearby-month goods.
Purified terephthalic acid prices were stable to higher in Asian markets amid firmer paraxylene cost while demand remained sluggish demand with ample supply.
Asian MEG markers, the CFR China was flat in the third week of May but was up on the weekend by US$5 a ton. In China, offers for nearby-month goods were in the range of US$615-620 a ton, and negotiations and trading values were also around that level.
Mono ethylene glycol markets in Asia continued to hover around a low level that week on lack of market direction and stable futures.
In China, futures traders square positions for June on the Huaxicun exchange. Central MEG values changed marginally that week and there was still some demand for low priced goods.
In Qianqing, PC (65/35) 32s yarn prices rolled over in the third week of May while 45s PC combed yarn prices were down US cents 2 a kg (due to weak currency).
In China, blended yarn markets were stable over the week, due to stability of fibre prices. Nevertheless, import prices were rising in Yuan terms, due to a rebound of the US$, implying that spinners will compete with imported goods.
In Shengze, offers for 32s polyester yarn rolled over in the second week of May and 45s were stable during the week. In Qiangqing, 32s were also steady on the week.
Spun polyester yarn offers were kept steady that week in China as producers offloaded goods at flat rate since there was no notable change in demand.
Some players saw rigid demand to replenish goods, while griege fabric producers had high inventory and little appetite for yarns.
Asian PTA markers lost US$2-10 a ton CFR China and CFR Southeast in the second week of May.
Yisheng Petrochemical issued price for PTA down while Hengli Petrochemical issued self-lifting offer at US$625-630 a ton.
Purified terephthalic acid prices softened in Asian markets on weak demand amid ample supply. Reports indicated that the continual fall in the PTA futures in China contributed to lower prices that week.
