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In the first week of September, polyester yarn 30 knitting yarns prices in India were up US cent 1 a kg in Ludhiana market while they fell US cents 2 a kg in Indore market. Prices in India rolled over in Ludhiana market while they moderated in Indore market.

In Pakistan, polyester yarn prices generally rolled over and are expected to sober in coming weeks in line with the PakRs5 a kg fall in PSF prices this week. 30s spun polyester prices were stable during the week.

In Qianqing, 32s polyester yarn was up US cents 4 a kg on the week.

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In the first week of September, Asian MEG prices edged down US$7 a ton both CFR China and Southeast Asia. In China, offers for nearby-month cargoes were at US$705-710 a ton, and counter offers were at US$695 a ton, with negotiations at US$700 a ton. Mono ethylene glycol prices moved down in Asian markets on bearish outlook and thin trading dragged bids lower. That week saw thin trading as China was on holiday for two days to celebrate Victory Day.

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In the first week of September, polyester-viscose prices in China have increased in line with a continued increase of viscose fiber prices. Any rise of fibre prices, spinners were feeling that demand was recovering as usual in this part of the year. Import yarn prices are down in Yuan terms and demand was therefore returning to normal on the lower end of the market. In Qianqing, PC (65/35) 32s yarn prices rolled over while 21s were up US cents 2 a kg on the week).

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Asian PTA prices fell in the last week of August on ample supply as the assessment considered bid and offer levels for first-half September loading cargoes. PTA marker, the CFR China was down US$29 a ton on the week. Yisheng Petrochemical’s offers were down US$45 a ton with enquiry absent in the week. Hengli Petrochemical issued self-lifting offers were down US$10 a ton.

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Spun polyester yarn market saw prices weakening in the last week of August, with sporadic batches traded. Yarns were mainly sold in small batches and most on credit, with limited capitals flowing into the market.

In China, producers mostly limited production to maintain prices, and were more cautious to purchase PSF for rigid demand. In Shandong, prices were largely stable today, with sales slowing down. In Qianqing, 32s was down US cents 3 a kg on the week.

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In US, spot MEG price was stable in the last week of August as Asia rose while demand was slow to steady amid dropping September contract price.

Asian MEG prices rose US$11 a ton CFR China in the last week of August while Southeast Asian price fell US$4 a ton. As oil price, MEG sentiment was pushed up again.

In Europe, initial September contract slumped as upstream and downstream declined. European contract price was down Euro135 a ton FD NWE on August settlement.

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In India, 30s (65/35) PV yarn prices edged down US cents 5 a kg in the last week of August in Indore market. PC 30s (52/48) prices fell further US cents 7 a kg in Ludhiana market.

In Pakistan, polyester-cotton yarn prices declined as PSF and cotton prices were subdued in recent weeks. Overall, with textile production progressively returning to a seasonal high, demand for fiber was improving. 24 PC (52/48) carded yarn prices in Pakistan fell US cents 9 a kg on the week on the Faisalabad market while 30s were down US cents 12.

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Polyester yarns markets in China were weak in the third week of August, and some sporadic batches of cargoes were traded. Yarn prices were stable to weak with 32s spun polyester yarn was mainly offered at same levels. The influence of RMB depreciation on the demand remained limited as spinning mills did not improve run rate notably on the back of slow sales and the purchase of raw materials was just to meet rigid demand.

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PSF prices have declined US cents 8-16 per kg across China, India and Pakistan in the second week of August. Thus, cost support to polyester spun yarns eased amid sluggish demand. The significant Yuan depreciation has caused prices to fall further in US$ term, although they were steady in local currency.

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Mono ethylene glycol prices in Asian markets declined in the first week of August as traders turned increasingly bearish amid falling crude oil, which depressed prices of polyester feedstock. Markets were spooked further by reports of the huge inventory built up in east China inventory, which was attributed to low operating rates at Chinese polyester industry.

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