MUMBAI (Commoditiescontrol) – Viscose staple fibre prices climbed steadily in China in the week of 25 November as some producers raised offers on modest demand. Following the bottoming‐out in recent weeks, producers were cautious for large hikes, citing limited oversold materials and de‐stocking pressure ahead of the year end. Downstream buyers had slowed buying activity for a while, following massive procurement last week, leading to slower liquidity. Offers for medium‐end VSF rose to US$2.23-2.24 a kg, with trading prices at US$2.18-2.21 a kg. High-end VSF was offered at US$2.24-2.28 a kg and trade at US$2.23-2.26 a kg.
In Pakistan, VSF prices continued to decline in line with falling import offers. In Karachi 1.5D VSF prices fell PakRs2 to PakRs235-238 a kg (US$2.24-2.27, down US cents 2). In India, VSF prices were stable at INR144-151 kg (US$2.10-2.21 a kg, down US cent 1 due to weak INR) despite sharp drop in export volumes.
Downstream spun viscose yarn prices ticked up on support of a rally in VSF sentiment in China. Offers for ring‐spun yarn moved up, with 30s yarn at US$2.82-2.85 a kg, while compact siro‐spun 40s yarn moved up at US$3.24 a kg. However, rapidly weakening currency pegged price down US cents 3 a kg in US$ terms
In Pakistan, viscose yarn price declined further, reflecting the recent falls in VSF pricing. However, yarn prices declined faster than fibre leading to squeeze in spinning margins. Market trends mostly depend on the level of VSF prices. In Karachi, 35s viscose yarn prices fell PakRs5 week on week to PakRs140 per pound or US$2.97 a kg, down US cents 11 while 40s rolled over at PakRs161 a pound or US$3.42 a kg.
Indian viscose yarn prices moderated further as export demand weakened in October. Shipments were just around 2 million kgs down from an average of over 3 million kgs in past months. 30s knitting yarn prices fell INR1 in Indore market to INR177 a kg or US$2.60 a kg, down US cents 3.
(By Commoditiescontrol Bureau; +91-22-40015522)
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