MUMBAI (Commoditiescontrol) – Polyester staple fibre (PSF) prices moved up early in the week of 16 December in China only to stabilize later as OPEC and non-OPEC members agreed on oil production cut, supporting polyester raw materials prices to hike significantly. The US FED interest rates hike also calmed down market sentiment later in the week. In Pakistan, PSF prices stayed unchanged but are expected to increase, pushed up by higher priced import from China and Far East. In India, PSF prices were raised with effect from 1 December, a change since April and remained stable this week.
Acrylic staple fibre (ASF) prices rolled over in China, despite some softness in raw material acrylonitrile price and strengthening of US$. Participants were generally bullish about market future, so producers kept offers stable ahead of the lunar New Year in China. There are possibility of them raising their indications after the Spring Festival. Although downstream demand was weak with the market cooling down, it remained steady overall. In India, ASF prices were stable as the run rate is low and downstream demand still fair.
Viscose staple fibre (VSF) markets saw supply tightened with more maintenance seen in China, especially in northern region. Downstream converters made required replenishments, leading to warmer trading atmosphere supporting offers to climb. In Pakistan, VSF prices stayed firm for the fourth week in a row supported by stable import pricing. In India, VSF prices rolled over supported by firmness in viscose yarn markets.
Compiled from Various sources
(By Commoditiescontrol Bureau; +91-22-40015522)
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