In the second week of December, Asian MEG markers edged up US$4 weekend but fell US$13 a ton CFR China on the week.
Mono ethylene glycol prices edged up weekend on late short-covering by traders due to plant issues at Shell and Nan Ya Plastics.
However, prices were down on the week as crude oil prices retreated significantly while commodity markets were severely bearish this week. Polyester makers were at new lows.
In Qianqing, PC (65/35) 32s yarn prices fell US cents 6 a kg while 45s PC combed yarn prices were stable at US$3.34 a kg in the second week of December.
In China, blended yarn prices have fallen, mostly triggered by a decline of demand from downward processors.
PC yarn prices have even been lowered by about 3-5%. PV prices are also reduced, as a result of a continuous drop of VSF prices.
In Pakistan, blended yarn prices have moved into different directions in the week with polyester-cotton yarns rising about 5% in carded categories.
In Shengze of Jiangsu, offers for 32s polyester yarn prices fell US cents 2 a kg and 45s were down US cent 1 a kg in the first week of December.
Polyester spun yarn prices were seen moderating or rolling over in line with the movement in fibre prices in Asian markets.
In China, offers of spun polyester yarns in Shengze of Jiangsu were weakly stable, and downstream did not buy too many batches of goods.
Mainstream offers for spun polyester yarn 32S and 45S declined as PSF prices softened.
Asian PTA markers lost US$5 a ton CFR China in the first week of December.
In China, sellers showed no interest at cargoes priced below US$600 a ton, and buyers bid at below US$600 a ton. Offers for bonded cargoes were at above US$600 a ton.
Yisheng Petrochemical’s offers were at US$601-604 a ton through the week while Hengli Petrochemical issued self-lifting offers in the range of US$620-625 a ton.
Purified terephthalic acid prices slipped in Asian markets on bearish sentiment and thin trading.
Asian MEG prices fell US$4 a ton CFR China and South East Asia in the first week of December.
In China, MEG prices fluctuated in the range of US$560-565 a ton. However, as news that Saudi Arabia did not cut down oil production trickled in, discussions and trading values of MEG cargoes softened to US$550-555 a ton.
Mono ethylene glycol prices fell on lower MEG futures and short-selling by traders. In China, February MEG futures fell from Monday as bearish sentiment drags bids lower.
In Shengze of Jiangsu, offers for 32s polyester yarn was at US$1.66 a kg and those for 45s at US$1.67 a kg in the last week of November.
Offers spun polyester yarn were lower that week in China amid thinner liquidity. Sales situation was better for 45s polyester yarn during the week compared to other specs.
In Pakistan, spun polyester yarn prices have marginally declined on the domestic market in Pakistan, despite anti-dumping duties on Chinese polyester staple fibers have raised raw material costs.
30s spun polyester prices were down US cents 6 a kg on the month.
Asian PTA markers gained US$4 a ton CFR China in the last week of November.
In China, trading values of bonded cargoes were up US$3 a ton. Selling ideas picked up from US$600 a ton to US$615 a ton.
Yisheng Petrochemical’s offers were at US$602-605 a ton through the week while Hengli Petrochemical issued self-lifting offers in the range of US$625-630 a ton.
Purified terephthalic acid prices in Asian markets edged up on end-user and producer buying interest.
Asian MEG prices fell US$17 a ton CFR China and CFR South East Asia in the last week of November.
In China, values fell to US$550-555 a ton in the first half of that week, and later surged by US$5-10 in line with rebounding crude oil values.
In the H2 of the week, prices were corrected to below US$570 a ton.
Mono ethylene glycol prices declined in Asian markets on on negative outlook and surplus stock, triggering short-selling.
No support is expected from cost or demand side, with expectation of lower run rates at downstream polyester plants.
In India, yarn prices have been mostly weaker in the last week of November, depending on products and market locations. PC yarn prices declined INR2 or 1.5 per cent in Ludhiana market on the week.
In India, 30s (65/35) PV yarn prices remained flat on the week at US$2.11 a kg, down US cent 1 (due to weak INR) in Indore market.
However, in Ludhiana, PC 30s (52/48) prices fell US cents 4 a kg on the week.
In China, PC yarn prices did not move on the week but there was some demand for PC yarn and low-count open end yarn from low-end fabric makers.
In Qianqing, offers for 32s polyester yarn was down US cents 3 a kg in the third week of November.
In China, spun polyester yarn market saw sporadic trades and offers were corrected down to reflect upstream weakness and poor sales.
Yarn makers tended to buy PSF on credit, but suppliers and traders were less willing to accept.
In India, spun polyester prices rose 1.7-2.2 per cent depending on counts and markets.
Polyester yarn 30 knitting yarns prices were up US cents 5 a kg in Ludhiana market while they rolled over in Indore market.
