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Polyester staple fibre markets in June were up in China, however, downstream sentiment was relatively mute with a wait-and-watch mode.

In India, trading sentiment in PSF market improved slightly, while downstream spinners were still cautious to replenish inventories.

In Pakistan, PSF prices did not change on the month amid steady demand.

In China, 1.4D PSF was up US cents 3 a kg from May. In India, 1.2D PSF prices were up US cents 2 a kg from previous month. In Pakistan, prices in Karachi were down US cent 1 a kg on the month.

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Polyester filament yarn prices in June were seen climbing in China as MEG and polyester chips continued small upticks. However, uncertainties persisted as some dyeing factories were restarted after the environmental inspection.

In India, POY offers were generally stable, as the markets awaited the GST regime to set in from 1 July.

In Pakistan, selling indications for DTYs were almost stable in Karachi market.

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Related Keywords: crude oil price, ethylene price, MEG price, mono ethylene glycol price, naphtha price, paraxylene prices, polyester chip price, polyester filament price, polyester staple fibre price, psf price, PTA price, purified terephthalic acid price

Crude oil prices in November declined on pressure from a rallying US$ and expectations of higher interest rate. The US$ hit 6-1/2-month high against a basket of currencies. Data also showed eight straight weeks of inventories builds in US. Brent, the global benchmark for oil, was less than $2 from setting new 6-1/2-year lows in the mid of November. US crude and Brent price fell 6.8% and 7.4% respectively as compared to previous month’s average. US Futures averaged US$42.91 a barrel, down US$3.15 from October and Brent averaged US$48.25, down US$3.56 on the month.

Polyester staple fibre markets were under falling cost pressure and weak demand in the last week of July. Sentiment slightly picked up amid favorable sales, with upstream raw material slightly rallying weekend. In China, Sinopec nominated its PSF contract prices for August 2015 while atmosphere weakened slightly.

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In the week ended 17 July, the Asian ethylene markets continued to be hit by weak demand amid ample supply while prices touched a four-month low. The spread between North East and South East was at its widest in 11 months as the two markets saw diverge trend. Asian markers CFR NE was down US$20 a ton while SEA CFR fell US$35 a ton on the week. The ethylene-naphtha spread was wide at US$65 a ton.

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In the week ended 20 March, prices of polyester chain moderated a bit after generally rising earlier on cost support. While crude oil prices were up as US$ weakened on US interest hike uncertainty, Greece issue and report of a new four-year low in the number of rigs drilling oil in US, the impact was otherwise on the downstream derivatives. US crude jumped 4 per cent week end and European Brent snapped two straight weeks of losses as Iran struggled to reach a nuclear deal with world powers.

Related Keywords: ethylene price, MEG prices, paraxylene price, pfy price, Polyester prices, polyester spun yarn, psf price, PTA prices, yarn prices

Last week, the polyester spun yarn markets remained tepid with limited new orders as buyers awaited for signal from the upstream fibre markets. In China, offers changed marginally, but transaction weakened. PSF prices briefly rolled over, with the central level

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Polyester filament yarn markets remained firm in the week of 8 November in Asia and prices were seen rising for some specs. Offers for POY and FDY were hiked further sporadically in China while DTY remained stable. However, trading sentiment was lackluster, and low prices vanished gradually, as participants carried a cautious attitude amid wait-and-see sentiment. In Shengze, trading sentiment for PFY was passable as buyers cautiously bought for stocking amid rigid demand. In Pakistan, trading sentiment was insipid and small hikes were made to sporadic offers DTYs.