In China, offers for 32s polyester yarn in Shengze slid US cent 2 a kg in the second week of May. In Zhejiang, 32s weaving yarn dropped US cents 2 a kg on the week.
Spun polyester yarn markets in China were in a slack season and covered by wait-and-see atmosphere. Downstream still purchased goods with caution to replenish inventories. Provided PSF market show a strong trend, downstream mills will probably be driven to buy a large volume of raw materials.
Asian PTA prices inched up US$4 a ton CFR China and CFR Southeast Asia in the second week of May. In China, offers for bonded goods also softened US$10 a ton on the week. Yisheng Petrochemical’s selling price was cut US$10 a ton while Hengli Petrochemical’s selling price was lowered US$20 a ton on the week.
Asian MEG prices fell US$21 a ton CFR China and CFR South East Asia in the second week of May. Mono ethylene glycol prices in Asian markets declined on weaker futures and traders taking profits early in the week, with both yuan-denominated swaps and US$ -denominated spot cargoes trading sharply lower, especially midweek. In China, MEG market declined in weakness that week and offers moved down all along and rebounded slightly later.
In Europe, MEG spot prices moved sideways as suppliers were unwilling to lower prices although demand remained tepid.
In China, PC (65/35) 32s yarn prices rolled over in the second week of May in Zhejiang, while 45s PC combed yarn prices rolled over on the week. Although fibre prices weakened blended yarn prices remained unchanged as imported yarns were still costly for processors and fabric makers.
In India, blended yarn prices remained unchanged although exporters were cutting their offers in push volumes as domestic market was still weak. Cost support was also firm as PFS and VSF prices remained unchanged while cotton prices inched up.
In China, offers for 32s polyester yarn in Shengze were down US cent 3 a kg in the first week of May. In Zhejiang, 32s weaving yarn dropped US cents 2 a kg on the week.
Polyester spun yarn market in China extended the weak trend and producers in Shengze lowered offers, with goods mainly sold to meet rigid demand. Offers of some specs in Shandong and Zhejiang were also adjusted down.
Asian PTA prices edged down US$10 a ton CFR China and CFR Southeast Asia in the first week of May. In China, offers for bonded goods also softened US$10 a ton on the week. Yisheng Petrochemical’s selling price was cut by US$5 a ton while Hengli Petrochemical’s selling price was lowered by US$10 a ton.
Asian MEG prices inched up US$3 a ton CFR China and CFR South East Asia marker in the first week of May. Mono ethylene glycol prices inched up on incremental demand in China as polyester plants are set to restart. Falling crude and stable ethylene also supported MEG markets.
In China, market fundamental improved in a limited room and fluctuated in a small range that week, but will continue to fluctuate in the coming week as more MEG units will be shut for maintenance.
In China, PC (65/35) 32s yarn prices fell US cent 1 a kg in the first week of May in Zhejiang, while 45s PC combed yarn prices rolled over on the week. PC yarn prices edged down as PSF prices continued to retreat rapidly, particularly in that week while cotton prices were seen inching up.
In India, blended yarn prices were relatively stable on stable VSF cost and firming cotton prices. 30s (65/35) PV warp yarns prices inched down INR 1 a kg (down US cent 1) while PC 30s (52/48) prices edged down INR1 a kg in Ludhiana.
In China, offers for 32s polyester yarn in Shengze were stable in the last week of April. In Qiangqing, 32s weaving yarn also dropped US cents 1-2 a kg on the week.
Polyester spun yarn markets in China saw sporadic deals concluded that week, and producers keeping offers steady with some varieties sold off. Markets stayed in a slack season that week, and the enquiring and trading sentiment seemed to be more lackluster compared with last year.
Asian PTA prices edged down US$8 a ton CFR China and CFR Southeast Asia in the last week of April. Yisheng Petrochemical’s selling price was lowered US$10 a ton while Hengli Petrochemical’s selling price remained unchanged on the week.
Purified terephthalic acid prices sobered further in Asian markets but slower than the fall in raw material paraxylene cost. In China, discussions for PTA were heard lower from the previous week. Since run rates at polyester units was still high, producers will have requirement to replenish inventories after the May Day holiday.
