Global Manmade Fibre Markets In The Week Of February 25

MUMBAI (Commoditiescontrol) – Manmade fibre prices in Asian markets were generally stable to down in the week of 25 February as raw material cost was steadily easing and no great news to boost sentiments. Polyester prices were seen sobering in China while they gained in Pakistan, where producers passed on higher cost of raw material purchased earlier.

Polyester staple up in Pakistan
PSF prices fluctuated downward in the week ended 24 February in China as cost of raw materials declined continuously, frustrating the confidence on the polyester market. However, downstream yarn makers showed poor buying interest since they had mostly stored up raw materials earlier. Offers for 1.4D direct-melt-spun PSF in Jiangsu and Zhejiang were down US cents 3-5 week on week to US$1.26-1.28 a kg.

In Pakistan, PSF prices continued their rise supported by a recent increase in raw material costs and a recovery in demand from downward processors. Producers had stock raw material at higher earlier and given the pick-up in demand were looking to pass-on the same to end users. Prices in Karachi spot markets were up PakRs2 at PakRs131-133 a kg (US$1.25-1.27 a kg, up US cents 2). In India, PSF producers’ price rolled over despite weakening raw material and unsmooth sales in downstream. 1.2D PSF was pegged at INR87.25 a kg or US$1.31 a kg, up US cent 1 due to weak US$.

Viscose staple remains range bound
VSF markets in Asia were stable to up in the week of 24 February. In China, offers for high‐end goods were maintained at previous week’s level as downstream mills mostly digested their raw material stocks, and were rational in buying fresh materials. Meanwhile, producers held optimistic view due to ample overselling, and in turn held on to their indications. Offers for medium-end and high-end goods rolled over at US$2.53-2.56 a kg and US$2.55-2.58 a kg, respective. Both were down US cent 1, due to weak Yuan.

In India, producers’ VSF price remained unchanged on the week at INR144-151 kg (US$2.15-2.26 a kg) while in Pakistan, VSF prices rolled over as downstream spun yarn market was stable in general. In Karachi, 1.5D VSF was trading at PakRs250-253 a kg (US$2.39-2.41 a kg).

Acrylic fibre firm on cost support
ASF prices remained range bound on support of rising acrylonitrile sentiment across Asian markets. Offers for Taiwan origin 3D bright ASF tow rolled over at US$1.80-1.85 a kg. In China, producers were mulling to hike list prices as cost pressure was lingering with an upswing in acrylonitrile cost. Downstream demand was sound, as some converters had not stocked up adequate raw materials. Medium-length fiber and cotton-type staple was traded at US$2.12-2.17 a kg.

In India, ASF prices rolled over at INR133-136 (US$2.02-2.04 a kg) but producers were planning to raise the prices. In Pakistan, prices remained unchanged with 1.2D ASF prices at PakRs.197 a kg (US$1.88 a kg). But citing rising cost, producers are likely to raise prices further up in coming week.



(By Commoditiescontrol Bureau; +91-22-40015522)