Asian marker, FOB Taiwan/Korea for semi-dull continuous spinning fibre grade chip fell US$67 a ton in the week ended 26 October 2018. In China, semi dull chip offers was also down US$67 a ton as compared to last week while offers for super bright chip fell US$89 a ton on the week. CDP chip offers declined US$75 a ton on the week.
Polyester chip prices in Asia fell sharply in tandem with low PTA and MEG prices in the week. In China, semi dull chip offers moved down due to limited transactions during the week. Polyester chain market was weak and suppliers were active to offload goods at a discount amid poor buying interest.
Plant run rates increased to 59% in the week. Domestic producers restarted PET chip unit and supply is expected to increase slightly. Overall, polyester chip prices may range-bound in weakness in coming weeks.
In Europe, lower consumption lead to a decline in PET prices, and the domestic range for November delivery fell as a result.
Courtesy: Weekly PriceWatch Report
