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.
Prices were seen falling sharply in Pakistan bowed by poor domestic demand and weak raw material cost. In India, PSF prices were largely stable and are likely to be revised down in coming week. Overall, participants will be in a wait-and-watch mode in coming week with focus on raw material market movements.
In Fujian and Shandong, prices were down US cent 1 and US cents 2-3 a kg respectively from last week. In Pakistan, prices in Karachi declined PakRs10 while prices in India were stable during the week.
Courtesy: Weekly PriceWatch Report
