Polyester staple fibre (PSF) prices were range-bound in the Asian markets of China, India and Pakistan after the Lunar New Year holidays. PSF offers in China were kept firm in the second week of February underpinned by stable polyester chip markets. Market sentiment was largely quiet after the holiday week while PSF producers were slowly restarting their units later in the week. Market supply is expected to increase due to plant restarts and new start-ups. Overall, PSF offers are expected to soften in coming weeks due to increased supply. Prices in India and Pakistan were steady during the week.
Polyester filament yarn (PFY) prices rolled over in China amid relatively high inventory during the week. Trading activity was thin and PFY units were resuming operations gradually after the Spring Festival holiday. However, products will still not be available until the last week of February. Overall, PFY offers are likely to remain range-bound in coming weeks. In India, PFY producers were stable in the week. In Pakistan, PSF offers were largely unchanged.
Polyester spun yarn prices moved up in China and India while they remained flat in Pakistan after the Spring festival holidays. In China, spun polyester yarn prices were assessed up support by firm polyester staple fibre prices during the week. Demand in the Chinese market slowly recovering after the spring festival holiday week. However, inventories at yarn producers have been increasing in the low demand market. In India, spun polyester yarn prices jumped that week. In Pakistan, polyester yarn makers kept firm offers underpinned by flat PSF cost.
Courtesy: Weekly PriceWatch Report
