In India, 30s (65/35) PV warp yarn prices in the second week of March inched up INR1 a kg (up US cents 4, also due to strong INR) in Indore market. In Ludhiana, PC 30s (52/48) prices rose further INR3 a kg (up US cents 6).
With stronger INR, Indian yarn have become dearer in US$ terms and may not be able to compete in the international markets. On export markets, PC yarns have risen INR2 at US$2.45 a kg FOB. The rise in polyester prices also resulted in PV yarn prices going up.
In Shengze, offers for 32s polyester yarn were up US cents 3 a kg in the first week of March, and 45s were raised US cents 3 a kg. In Changyi, offers for 32s were up US cents 2 a kg.
Spun polyester yarns offers in China were hiked and some bulk deals were concluded. Polyester yarn offers were driven up by rising PSF prices. Producers showed higher interest in replenishing PSF inventories driven by rising prices.
Asian PTA markers were up US$11 a ton CFR China and CFR Southeast in the first week of March.
In China, PTA values did not rise too much due to poor demand, but a deal was done at a high level of US$585 a ton. Offers were pushed gradually to above US$585-590 a ton, and discussions surged US$10 a ton.
Yisheng Petrochemical’s cash-based price were at US$570-590 a ton while Hengli Petrochemical issued self-lifting offers in the range of US$595-605 a ton.
Asian MEG markers surged US$18 a ton CFR China and CFR South East Asia in the first week of March posting a rise of US$36 on the month.
In China, offers were pushed above US$700 a ton, while buyers showed low interest to buy goods priced at above US$680 a ton.
Mono ethylene glycol market sentiment turned bullish and prices surged early in the week on news of continuing plant issues across China, Taiwan and the Middle East.
In India, prices have remained firm in the first week of March with PC prices slightly gaining. 30s (65/35) PV warp yarn prices were up US cents 2 a kg in Indore market. In Ludhiana, PC 30s (52/48) prices gained US cents 5 a kg due to strong INR.
In Qianqing, PC (65/35) 32s yarn prices rolled over while 45s PC combed yarn prices were stable during the week.
Firm fibre prices kept blended yarn values stable that week in China and Pakistan while they gained in India also supported by the currency appreciation against the US$.
Asian MEG markers spurted US$15 a ton CFR China and CFR South East Asia in the last week of February. In China, offers stayed high, and discussions and trading values picked up accordingly.
Post midweek values were hard to rush higher, with numbers weakening US$5-10 a ton. Weekend saw values recovering to the early week levels.
Mono ethylene glycol prices moved up in Asian markets on the week due to continued supply tightness and support from firming ethylene cost. Upcoming plant maintenance are likely to support MEG markets in coming weeks.
In India, 30s (65/35) PV warp yarn prices regained INR1 a kg (up US cent 1) in the last week of February in Indore market. In Ludhiana, PC 30s (52/48) prices further gained INR1 a kg during the week.
Blended yarn exports of India declined 4% in January largely due to fall in prices while domestic prices regained its previous week’s fall to neutralise weakening INR.
In China, imports of yarn have fallen as domestic prices were down due to falling cotton prices. However, PSF and VSF prices were firming up as yarn makers resumed operation. Blended yarn prices generally rolled over.
In India, polyester fiber prices have risen in the third week of February with for 1.4D PSF up INR1 after falling INR 2 in early December.
Polyester yarn 30 knit yarn prices gained INR2 a kg (up US cent 1) in Ludhiana market while they gained INR1 a kg (up US cent 1) in Indore.
In Shengze, offers for 32s polyester yarn were at US$1.55-1.58 a kg, and 45s at US$1.72 a kg. In Changyi, offers for 32s were steady during the week.
Polyester yarn producers resumed operation slowly after the Lunar New Year holidays in China and some rigid demand will probably emerge.
Asian PTA markers were up US$5 a ton CFR China and Southeast in the third week of February.
In China, offers were between US$560-570 a ton, with buying ideas at US$550 a ton, but there was nearly no substantial deal concluded.
Yisheng Petrochemical’s cash-based price for PTA were at US$566 a ton while Hengli Petrochemical issued self-lifting offers in the range of US$585-595 a ton.
Purified terephthalic acid markets moved up from stability after the holidays in China, with price up from previous week.
Asian MEG markers were up US$37 a ton CFR China and CFR South East Asia in the third week of February.
In China, offers jumped straight to US$660 a ton, and bids followed up to about US$630 a ton.
Mono ethylene glycol prices jumped notably after the holiday buoyed by the restocking requirement in Asian markets and recovering from a downward trend during the holidays.
