Polyester Chain Ethylene prices in Asian markets inched up in November supported by healthy Chinese demand ahead of the 2018 term discussions and due to rising upstream values.In US, ethylene spot prices fell during the month amid restarting crackers and recently completed downstream capacity.In Europe, spot ethylene prices slipped as buyers had stock, bought earlier in the year.Prices averaged US$1,161.00-1,163.00 a ton CFR SE Asia, up 0.6% from October while European spot fell 6.1% to average Euro969.90-974.90 a ton FD NWE. US spot prices were down2.6% on the month to average US cents 27.45-27.95 per pound FD USG.Paraxylene prices in Asia were upduring the month on strong feedstock values and increasing demand in the region.In Europe, spot paraxylene prices rose to seven-month high in November, reflecting higher prices in Asia. In US, paraxylene prices inched up on tight supply in the region. Asian marker, the CFR China averaged US$896.40 a ton, up 5.4% from last monthwhile European paraxylene rose 5.4% to US$807.20 a ton FOB Rotterdam. In US, spot paraxylene was at US$830 a ton FOB USG, up 2.5% on the month. Mono ethylene glycol prices in Asia gained in November amid high feedstock values and limited supply in the…
Yarn exports up in October, fabrics down as exporters hit by liquidity crunch In October 2017, the first month of 2017-18 cotton marketing year, recorded 89 thousand bales (of 170 kg each) of shipment as against 51 thousand bales in October 2016. With 2016-17 marketing season (October-September) closing at 6.74 lakh bale, it implies that exports this year will be significant. The price realization averaged (FOB) INR119 or US cents 80.8 per pound this month as against the Cotlook Index ‘A’ at 78.7 per pound Shankar-6 spot at US cents 75.4 per pound. Compared to a year ago, realization this year was US cents 7 lesser than last year but more than the ruling spot values and Cotlook ‘A’ index averages. However, a discerning trend will emerge in November this year since last year the markets were disrupted by the demonetization policy of the central government that banned high currency notes with effect from 9 November. The event had pushed peak period by almost a month and remained extended until May 2017. Bangladesh, Vietnam, and Indonesia were the largest importers of cotton with combined volumes at 82 thousand bales amongst the 11 countries that imported cotton from India in October.…
Polyester chain: PSF demand seasonally strong, PFY rolls over Polyester chip prices in Asia were steady in the last week of October on the back of firm PTA and MEG market. In China, semi dull chip priceswere stable amid moderate trading that week. Downstream converters had already stocked up and in turn adopted cautious attitude, leading to tepid trading.Overall, given firm feedstock sentiment and decent demand, FGPET chip market is likely to range-bound in coming weeks. Polyester staple fibre prices fell in China while they were stable in India and Pakistan. In China, PSF offers edged down during the week since market was dominated by sidelined stance. Demand for PSF was seasonally strong at around the September to October period, prompted Chinese producers to raise their export offers during that period.Rigid demand for PSF still existed. PFY prices rolled over in the Asian markets of China, India and Pakistan. Nylon Chain: Rising crude sets nylon market on uptrend Caprolactum prices trended up in the last week of October in line with rising benzene cost and tight supply. In China, CPL offers were up that week due to short supply amid sound demand. Overall, CPL prices are likely to move up…
Polyester fibre and yarn Fibre price movements were mixed in September with manmade fibres moving up rapidly while cotton prices were subdued to marginally up across markets. They also supported spinners to adjust their prices in line with change in cost. Polyester staple fibre prices moved up after moving sideways in China while they were lifted in Pakistan and India. However, most PSF suppliers held stable offers in late September while some cut down offers slightly amid sidelined stance and feedstock under downward pressure. Overall, discussionswere flat with moderate trading while some spinning mills closed units for holiday, leading to flagging demand. In China, 1.4D direct-melt-spun PSF offers in Jiangsu and Zhejiang averaged 8.72-8.89 Yuan a kg (US$1.33-1.35 a kg, up US cents 12 on the month). Export offers were heard at around US$1.17 a kg FOB China. In Pakistan, PSF prices rose sharply to reflect the rise of import offers from China, which was an opportunity for domestic producers to lift their prices. Margins of PSF producers also rose over a decline of material costs, as PTA and MEG prices are now retreating to lower levels. 1.4D PSF prices jumped to PakRs.131.25-132.25 a kg (US$1.25-1.26 a kg, up US…
Fabric exports decline slowed down After prolonged period of sharp declines, woven fabric shipments fall tapered to 2.4 per cent in terms of volume in August, and remained positive in value term. Shipments aggregated 382 million sqmtr during the month valued at US$328 million or INR2,070 crore. During the first five months of 2017-18, total woven fabric exports were at 1,720 million sqmtr, down 5 per cent year on year. In August, 141 countries imported woven fabrics from India, with Bangladesh being the largest importer, followed by UAE and Sri Lanka. The three together accounted for 28 per cent of total woven fabrics export during the month. During the month, 10 countries did not import any fab-ric from India as they did last year. However, they were replaced by 23 countries which import-ed fabric worth US$3 million this August. Afghanistan, Uzbekistan, Cote D'Ivoire, Nepal and Hungary were the fastest growing markets for woven fabrics, and accounted for 5 per cent of total value exported in August. Woven fabrics made of 100% cotton accounted for 49 per cent of all fabrics exported, worth US$160 million (INR1,010 crore) with volumes at 172 million sqmtr. The average unit price realization was at US$0.93…
Crude Oil: Price gains on easing oversupply concerns Crude oil posted its biggest weekly gain in the last week of July this year since late May with a hike on Friday as data this week eased concerns about surplus supplies, after Saudi Arabia pledged to lower imports while U.S. crude supplies fell more than expected.The market was strengthened by larger than expected inventory drawdowns on Wednesday and signals from Saudi Arabia that the world's biggest oil producer would further reduce output in August.Saudi Arabia pledged earlier this week to lower crude exports to 6.6 million barrels per day (bpd) in August, almost 1 million bpd below the level last year.The US crude futures settled at US$49.71 a barrel, up US$3.94 from previous week while European Brent crude futures settled at US$48.06 a barrel, rose US$4.46on the week. U.S. crude futures gained 8.6 percent for the week while Brent climbed 9.3 per cent. The gains in Brent pushed the difference between the two benchmarks to the widest in two months. Oilfield services firm Baker Hughes reported its weekly count of oil rigs operating in the United States ticked down by two rig to a total of 766. For the month, 10…
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