In Qianqing, PC (65/35) 32s yarn prices were up US cents 2 a kg in the third week of February while 45s PC combed yarn prices were up US cents 3 a kg.
Blended yarn prices did not move after the long Lunar New Year holidays in China as competition from imported yarns continued to fade amid a continuous drop of raw material costs. However, the yarn markets were slow in returning to normal operation, after the holidays.
Demand is expected to progressively increase in the coming weeks.
In India, polyester yarn 30 knitting yarns prices gained INR2 a kg (up US cents 3) in Ludhiana market while they fell INR2 a kg in Indore market (down US cents 3).
In Qianqing, offers for 32s polyester yarn prices were notionally at US$1.53-1.57 a kg, and 45s at US$1.71 a kg in Shengze.
As polyester staple fibre prices moderated, margins of spun polyester producers improved in January and early February in China, India and Pakistan.
Gross margins of yarn makers improved, however sharply increasing in India by 14, and very slightly improving in China.
In US, January PTA price was set down from December and little change is expected in February pricing. January PTA price was down US cents 1.72 a ton from December.
In Europe, PTA contract prices were to be lower on the month and dipped Euro 3 a ton.
Asian PTA markers are notionally set at a roll over in the second week of February at US$560-562 a ton CFR China and US$577-579 a ton CFR Southeast.
In China, before the holidays selling ideas for nearby-month goods were at US$550-555 a ton, and counter offers at US$535 a ton or slightly lower.
Asian MEG markers rolled over in the second week of February with CFR China assessed at US$610-605 a ton while CFR South East Asia was at US$613-617 a ton.
In China, nearby-month cargoes were quoted at about US$590 a ton, with counter offers at US$580-585 a ton and forward-month goods US$5 a ton higher.
Mono ethylene glycol markets in Asia witnessed extremely thin activity amid the Lunar New Year holidays, with participants across South Korea, Taiwan and Southeast Asia were either on holiday or not trading.
In India, 30s (65/35) PV warp yarn prices inched up further INR1 a kg (up US cent 1) in Indore market in the second week of February. In Ludhiana, PC 30s (52/48) prices gained INR2 a kg (up US cents 3).
Blended yarn prices have further risen in India during the week, although fibre price rolled over while cotton was still cheaper. The price rise was in line with a reduction in operating rates since the beginning of the year.
Meanwhile export prices were sliding due to the absence of buyers from China, while export to Pakistan is likely to fall.
In Qianqing, offers for 32s polyester yarn prices remained unchanged in the first week of February and those for 45s were stable in Shengze.
Polyester spun yarn prices were stable amid thin transaction in China. Many spun polyester yarn plants remained closed for Lunar New Year holidays and enquiring atmosphere was mild amid hindered logistics.
In India, polyester yarn producers could however found difficulty in maintaining prices at current levels, as a result of a sharp fall yarn exports to China.
Asian PTA markers gained US$10 a ton CFR China and CFR Southeast in the first week of February.
In China, selling ideas for nearby-month goods were at US$550-555 a ton, and counter offers at US$535 a ton or slightly lower. Bonded goods on one-day trip were traded at US$545 a ton.
Yisheng Petrochemical’s cash-based daily prices ranged between US$542-552 a ton, down US$3 from last week while Hengli Petrochemical issued self-lifting offers at US$585 a ton, down US$5.
European MEG prices recovered Euro40 a ton FCA NWE on tighter supply in the first week of February.
MEG spot in Europe rebounded on tighter supply as Ineos stopped offering ending several weeks of decline.
Asian MEG markers were up US$9 a ton CFR China and South East Asia on the week.
In China, nearby-month cargoes were quoted at about US$590 a ton, with counter offers at US$580-585 a ton. Forward-month goods were US$5 a ton higher over nearby-month quotes.
In Qianqing, PC (65/35) 32s yarn prices were stable while 45s PC combed yarn prices rolled over in the first week of February.
Blended yarn prices in China generally rolled over and numbers were notionally quoted since many players had left to Lunar New Year holidays.
In India, blended yarn prices have stayed stable in the week although cotton prices were weakening. Large arrivals of the new crop have depressed cotton prices of certain grades. Yarn producers were finding it difficult to maintain prices at current levels, since China's yarn imports has been dwindling rapidly.
In Pakistan, spun polyester prices remained stable in the last week of January, as yarn producers refused any further reduction. Inventories were reduced by stronger domestic and export sales. 30s spun polyester prices inched up US cents 4 a kg on the week.
In India, polyester yarn prices moved in different direction. They remained flat in Ludhiana and fell further in Indore.
Polyester yarn 30 knitting yarns prices remained unchanged in Ludhiana market while they further fell INR1 a kg (down US cents 2 also due to weak INR).
