In Qianqing, offers for 32s polyester yarn were down US cent 1 a kg in the last week of September with initial days of October in that week.
Spun polyester yarn prices were stable to weak in Shengze of Jiangsu, and the transaction volume was not large on the whole. Mainstream offers for spun polyester yarn rolled over previous week’s numbers.
Although PSF prices in India remained unchanged, polyester yarn prices were seen moderating in Indore market while they rolled over in Ludhiana market.
Asian PTA markers inched up US$2 a ton CFR China in the last week of September.
In China, potential negotiations were pegged at US$575-580 a ton.
Yisheng Petrochemical cut its price for PTA by US$10 ton, but no enquiries on the week. Hengli Petrochemical issued self-lifting offers at US$620 a ton.
Purified terephthalic acid prices edged up this week amid thin trading and weak polyester demand.
However, operating rates at several downstream PET and polyester plants in China had reportedly improved but this did not led to significant demand for spot or prompt cargoes.
Asian MEG prices further declined US$18 a ton CFR China and CFR Southeast Asia in the last week of September.
In China, offers for cargoes weakened to US$660 a ton while bonded cargoes were quoted at US$665-670 a ton and talked at US$665 a ton.
Mono ethylene glycol prices fell in Asian markets on thin trading, particularly in China where the markets were close for National Holidays while bearish outlook triggered traders to short-sell.
Downstream, polyester markets are unlikely to plunge in October based on the support from the maintenance of PTA units.
In Qianqing, PC (65/35) 32s yarn prices were up US cent 1 a kg and 21s were also up US cent 1 a kg in the last week of September.
Offers for polyester-cotton yarn held flat amid favorable sales in China, while selling ideas were reported stable for polyester-viscose yarn amid mute transactions.
Downstream, fabric markets sustained their stable movements, and trading activities are expected to remain steady in coming weeks.
Asian MEG prices declined further by US$30 a ton both CFR China and Southeast Asia. In China, offers for cargoes weakened from US$700 a ton early in the week to about US$670-675 a ton at weekend.
Mono ethylene glycol prices fell on the week in Asian markets on bearish fundamentals amid weak PMI and equity markets in China. Bids and offers were also seen lower.
Downstream, polyester inventory increased again and BGPET chip makers made plans for maintenance since it will welcome a traditional turnaround season in October.
With cotton prices falling sharply in India and downward revision in polyester fibre prices earlier in September, blended spun yarn prices moderated in similar proportion in the fourth week of September. PC yarn prices fell 2.6 per cent week on week while PV yarns were cheaper by INR 1 a kg.
In India, 30s (65/35) PV yarn prices unchanged due to strong INR in Indore market. PC 30s (52/48) prices fell US cents 4 a kg on the week in Ludhiana market.
In Qianqing, PC (65/35) 32s yarn prices were flat on the week while 21s down US cent 1 a kg on the week.
In the third week of September, Asian MEG prices gave back US$14 a ton both CFR China and Southeast Asia. In China, offers for nearby-month cargoes were at US$705-710 a ton, with counter offers at US$700 a ton, and deals were talks concluded at US$705 a ton.
Mono ethylene glycol prices in Asian markets declined on the week, hit by weak market sentiment amid bearish futures market in China and rising local supplies. Overall demand was weaker although downstream polyester demand was still strong.
In Qianqing, PC (65/35) 32s yarn prices rolled over while 21s were up US cent 1 a kg in the third week of September. Blended yarn markets sentiment held firm during the week, with prices largely unchanged in China. However, PSF prices were on the downtrend whereas VSF prices were increasing further. Downstream fabric market sustained the stable movements, and trading activities are likely to pick up with some mills reducing run rates.
In India, polyester-cotton yarn prices dropped 1.7 per cent as both polyester and cotton prices have declined in the second week of September. This also implies that margins have slid at spinning mills, as far as they were not covered. 30s (65/35) PV yarn prices were down US cents 2 a kg on the week in Indore market. PC 30s (52/48) prices fell US cents 4 a kg on the week in Ludhiana market.
Asian PTA markers fell US$4 a ton CFR China in the first week of September while the CFR Southeast Asia marker was down US$9 a ton. In China, offers were down by US$10, with no enquiries for arrived or to-arrive-at-port cargoes for the moment. Hengli Petrochemical issued self-lifting offer for bonded cargoes on one-day trip in Chinese main ports at US$625 a ton.
