Presented by www.fibre2fashion.com Crude Oil In the first half of the last fortnight, Crude oil price remained firm as inventories with U.S.A declined, due to storm production remained uneven. Price also inched up due to the statement against Iran by Israeli Ambassador, which increased the tension in the M E Asian region. In the second half of the last fortnight, Crude oil demand remained firm due to stocking speculation and improved demand from world’s largest energy consuming nations U.S.A and China.
from the downstream market. In the first half of the last fortnight in Asian markets, speculators were active but buyers were highly cautious due to global uncertainty. Selling offers in Asian market in the second half of the last fortnight increased due to firm demand and improved regional buying interest.
Naphtha Naphtha market opened with an optimistic sentiment, due to lack of availability across the global market. The supply from European and Indian market was almost choked off. In the second half of the last fortnight, prices of Naphtha gradually declined due to weak support from raw material market, price of Naphtha also declined and buyers adopted firm stance of wait and watch prior any large volume buying, as demand from downstream was still dicey.
Ethylene Ethylene prices opened with a stable sentiment in global markets, which gradually increased due to strong support from the downstream market. In Asian market, selling offer for Ethylene inched up due to firm energy and feedstock market, while in European market, selling offers improved due to favourable macroeconomic outlook. In the second half of the last fortnight, Ethylene market remained firm mainly due to firm energy market and robust demand from polymer market. Monoethylene Glycol
Paraxylene In the first half of the last fortnight, Paraxylene price opened with a firm sentiment in European market, despite of ample regional availability, coupled with energy market, downstream demand and moderate regional buying interest. In the second half of the last fortnight in Asian region, price of PX opened with a firm sentiment, due to strong support by downstream market, while in European market, selling offers for PX improved because of ease in macroeconomic fundamentals.
Prices of Monoethylene Glycol declined during the previous fortnight, as compared with the corresponding period of the previous year. In the first half of the last fortnight in Asian markets, price of MEG inched up mainly with a support of firm energy in market. In the second half of the last fortnight, MEG price surged up due to tight availability and firm downstream demand. In Asian markets, MEG price increased mainly with a support of firm energy market, bullish polyester feedstock price and improved demand.
Purified Terephthalic Acid Prices of PTA declined during the previous fortnight, as compared with the corresponding period of the previous year. In the global market, prices of PTA opened with a stable sentiment, which gradually increased due to strong support
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Presented by www.fibre2fashion.com market. Downstream buyers were cautious and mainly purchased on hand-to-mouth basis. In the second half of the last fortnight, PFY market remained stable. Downstream buyers were cautious and kept wait-and-see stance amid moderate trading sentiments. Some producers offered discount in order to balance inventory during the same period. Propylene
PET Chips In the first half of the last fortnight, trading sentiments of PET Chips remained lackluster and buying momentum was thin. Downstream buyers kept wait-and-see stance amid unfavorable market situation. Towards the end of the second half, prices surged down due to weak support from the downstream market. PET bottle grade chip export market surged up in line with strong feedstock market. In Europe, PET Prices inched up due to strong support from the feedstock market.
During the first half of the last fortnight prices of Propylene increased due robust energy and firm support by downstream markets. Buying sentiments in F E Asia, Europe and U.S.A market improved, which triggered prices of Propylene. In F E Asian markets, price remained firm due to unplanned outage at Mitsui’s Chiba cracker. Propylene price continued to move up in the second half of the last fortnight, as downstream players successfully pass on the price hike of Propylene to their downstream producers. Acrylonitrile Prices of Acrylonitrile inclined up due to firm demand from downstream industries. In Chinese market also, fundamentals remained firm despite of bearish macroeconomic cues across the country. ACN market slowly firm up as most of the traders and sellers hold the material tightly and withdraw selling offer with expectation of better price in short term future. In the second half of the last fortnight, demand from buyers for ACN was moderate, but highly optimistic sellers held the goods very tightly and increased the price successfully.
Polyester Staple Fibre Polyester staple fibre market followed a downward trend during the first half of the last fortnight. PSF market maintained a weak tone due to weak demand from the downstream market and prices inched down in line with weak feedstock market. During the second half of the last fortnight, PSF market followed an upward trend in the Chinese domestic market. PSF prices increased due to firm feedstock market and tight supply in the Chinese domestic market. Polyester Filament Yarn In the first half of the last fortnight, Polyester Filament Yarn market remained stable-to-soft. In the Chinese domestic market, prices of PFY declined due to lack of support from downstream
Acrylic Staple Fibre Acrylic staple fibre market followed an upward trend and prices increased during the first half of the last fortnight. ASF market improved in line with the firm feedstock market and robust demand from downstream market. In the second half of the last fortnight, ASF market followed a stable trend due to sluggish demand from downstream
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Presented by www.fibre2fashion.com market. Despite of firm feedstock and optimistic market situation, prices maintained a stable trend as downstream demand was not improved as anticipated.
Caprolactam In the first half of the last fortnight, prices of Caprolactam went up and slowly improved as demand was moderate, while feedstock market was caught in uncertainty. Reduction in rates by major financial institution improved the liquidity but market speculators remained highly cautious while trading. In the second half of the last fortnight, CPL prices increased due to improved buying sentiment across the global markets. CPL market received moderate support from both upstream and downstream markets.
Polypropylene In the first half of the last fortnight, prices of Polypropylene increased mainly due to firm commodity and bullish market fundamentals. In Chinese market, selling offers for PP improved as demand for most PP grade remained firm. Import of PP Raffia from M E Asian market continued to remained firm. In the second half of the last fortnight, PP price increased sharply in line with raw material prices. In European and U.S.A market, price of PP Raffia went up mainly due to improved demand and firm feedstock prices.
Nylon Chips Trading value and volume remained weak as market speculators adopted firm stance of wait and watch, in the first half of the last fortnight. Traders were quite cautious prior any buying, as market expected to exhibit mixed reactions. By the end of the last fortnight, demand for Nylon Chip improved slowly, but the overall trading volume remained moderate. Downstream converter still purchase the goods to maintain their hand to mouth inventories only against confirm orders. Nylon Filament Yarn
Benzene In the last fortnight, price of Benzene continued to increase with the help of revival in downstream demand. By the end of the first half of the last fortnight, Benzene price in European market increased slowly because of firm energy rate. In U.S.A market, offers for Benzene declined slowly as demand from plastic sector diminished. In the second half of the last fortnight, Benzene prices ended with a mixed sentiment. In European market, Benzene price remained range bound mainly due to volatile macro-economy and uncertain future demand.
In the first half of the last fortnight, Nylon filament yarn market remained stable due to lack of support from downstream market in the Chinese domestic market. Despite of support from the feedstock market, Nylon filament yarn prices remained unchanged due to sluggish market sentiments. Due to lack of support from downstream market, prices of NFY remained stable in the second half of the last fortnight. Producers reported high inventory and they curtailed production to manage inventory pressure.
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Presented by www.fibre2fashion.com market showed stable performance and production cut of a few plants still needed to be carried out, as output and inventory still maintained at high level. During the second half of the last fortnight, VFY market remained stable-tosoft in China. Producers curtailed production rate amid weak market fundamentals. Some producers offered discount in order to balance inventory. Spandex
Cotton Linters & Pulp Prices for linter softened during the first half of the last fortnight in the Chinese domestic market. Buying momentum remained moderate as operating rates of downstream plants did not rise as expected before and suppliers expressed worries on new arrivals of cotton linter. Imported Dissolving pulp prices went up during the same period. In the second half of the last fortnight, trading sentiment remained sluggish amid adequate stock and weak demand during the period. Imported Dissolving pulp market remained stable-to-up. Viscose Staple Fibre By the end of first half, the upward strength was slowed down amid slightly subdued sales. Downstream buyers showed resistance towards rising prices and suppliers show more interest in moving volumes than pushing for a price rise. VSF prices softened in Chinese domestic market due to weak demand from the downstream users, in the second half of the last fortnight. Market players were less confident towards the outlook so both prices and sales will remain stable to soft in the short term amid sidelined sentiment. Viscose Filament Yarn Viscose filament yarn market continued to follow the downtrend in China during the first half of the last fortnight. Overall, Viscose filament yarn
Spandex prices remained unchanged during the last fortnight. In the last fortnight, Spandex price opened with stable sentiment and traded range bound. Price of Spandex yarn remained soft as demand from foreign destination decreased. Overall demand from Chinese domestic market declined too, during the last fortnight. Spandex sellers successfully maintained current level due to firm feedstock market and due to ease of credit crunch in the market. Cotton During the first half of this last fortnight, prices of Cotton inched up in U.S. Volatility in ICE cotton futures during the period appears to have been driven by factors external to cotton, rather than new cotton supply and demand features. International spot cotton market went down in the beginning of the second half but later rebounded. In China, cotton prices increased further and later stabilised, while in India, domestic cotton prices maintained modest downtrend. Wool Wool prices followed a downward trend during the first half of this last fortnight in Australia. Wool prices followed a downward trend during the second half of this last fortnight in Australia. There were no sales reported in the Western Indicator. The year-to-date offering continues to be down on last year. Buyers for China were dominant, followed by buyers for India and Korea. Sales are in recess in South Africa until next week.
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