weekly pricewatch report - textile association of india · dty 75/24/0 polyester filament yarn...

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Acrylonitrile………………………………………………………………………………….

Wood and Cotton Pulp…………………………………………………………………

WOOL…………………………………………………………………………………………..

COTTON………………………………………………………………………………………..

SPUN YARN…………………………………………………………………………………..

Viscose Filament Yarn………………………………………………………………….

100% Viscose Spun Yarn………………………………………………………………..

100% Cotton Spun Yarn………………………………………………………………..

Viscose Staple Fibre……………………………………………………………………

Spandex Yarn……………………………………………………………………………….

VISCOSE CHAIN…………………………………………………………………………….

Polyester / Cotton Blended Yarn…………………………………………………..

NAPHTHA….………………………………………………………………………………..

Propylene………………………………………………………………………………………

CRUDE OIL…………………………………………………………………………………….

Polyester / Viscose Blended Yarn…………………………………………………

Caprolactum………………………………………………………………………………..

Weekly PriceWatch Report

Issue No. 02 8th January 2018

Polyester Staple Fibre………………………………………………………………….

Paraxylene……………………………………………………………………………………

NYLON CHAIN……………………………………………………………………………….

Ethylene………………………………………………………………………………………..

Benzene………………………………………………………………………………………..

Confidentiality Statement………………………………………………………….

Nylon Filament Yarn……………………………………………………………………

Nylon Chips…………………………………………………………………………………

POLYESTER CHAIN…………………………………………………………………………

CONTENTS

100% Polyester Spun Yarn…………………………………………………………….

Notes to PriceWatch Report…………………………………………………………

Purified Terephthalic Acid……………………………………………………………

Mono Ethylene Glycol…………………………………………………………………..

Polyester Chips…………………………………………………………………………….

EXECUTIVE SUMMARY…………………………...…………………………………….

Polyester Filament Yarn……………………………………………………………….

Polypropylene……………………………………………………………………………………

ACRYLIC CHAIN……………………………………………………………………………..

Acrylic Staple Fibre………………………………………………………………………

Weekly PriceWatch 8th January 2018

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Last 12

mths

Last 6

wksDec‐17 29‐Dec 5‐Jan Pounds/kg

6.747 6.575 6.587 6.534 6.492 Barrels/Ton

65.061 64.065 64.144 63.927 63.382 Gallons/ton

105.477 108.797 109.171 110.707 110.757 Kgs / Maund

1.304 1.302 1.305 1.285 1.274 Kgs / Candy

0.886 0.842 0.845 0.838 0.830

Pakistan

Free on Board

Free delivery within 300 sq.km

South East Asia

Main market offer

Malaysia

Europe

Indonesia

Latin America

Japan

EXCHANGE RATE = US$ 1

Singapore

355.60

37.32

India

Notes to PriceWatch Report

Cost+insurance+Freight

Mainstream offer

Producers' nominated price for ensuing month

Thailand

MARKET TERMS

US Gulf

CIF

Contract

ARA

Local main market prices inclusive of all federal and local taxes

Cost+Freight

Korea

Local

S. West AsiaFE Asia

Main market cash transaction

Indian Rs

China Yuan

Prices covered in this report relate to "Low" of the "Low/High" price range

7.33

CONVERSION RATE

Phillipines

Australian $

FOB

C+F/CNF/CFR

Turkey

MARKETS BY REGIONS

FD or Delivered

Spot

China

Ex‐factory price

299

Ex‐work

Euro

USA

2.204

Taiwan

Value chain pricing intensity is the relation of the product under review with its upstream raw material segment and with its

close substitutes. It is also a conversion cost indicator. For example, naphtha is produced from crude oil, paraxylene from

naphtha, PTA from paraxylene, MEG from ethylene, POY from PTA/MEG, DTY/FDY from POY. Similarly substitute are like viscose

to cotton, acrylic to wool. Another example is the blending of cotton with polyester. In this report value chain pricing intensity,

we have, to the best of our knowledge cross linked the value chain to the immediate upstream and to the closest market term.

Rotterdam

Confidentiality Statement

NOTES to Report

Pak Rs.

The Base of Benchmark is the major supplying region in the fibre chain

This document is confidential and has been made available to the individual to whom it is addressed on the understanding that

its content and copyrights will not be misused. Reproduction of any part of this work by any process whatsoever without

written permission of YNFX.com is strictly prohibited. The levels are published to use purely as a guide.

All prices in this PriceWatch Report are indicative prices and may vary according to the type of fiber, quality level required.

Information contained in this report is obtained from sources believed to be reliable, however YNFX.com will accept no

responsibility or liability for commercial decisions claimed to have been based on the content of the report.



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Crude oil prices edged down on Friday after reaching to its highest since May 2015 on Thursday amid concern about supply risks

due to unrest in Iran and decrease in US inventories as refining activity hit a 12‐year high. Oil stocks in US declined more than

expected, continuing a steady drawdown of supplies in the world’s largest oil consumer, though stocks of distillates and gasoline

rose on heavy refining activity driven in part by year‐end adjustments. The US crude futures settled to its strongest price since

May 2015 at US$61.44 a barrel, up US$1.02 from last week while European Brent crude futures settled at US$67.62 a barrel, up

US$1.00 on the week and also the highest price since May 2015. US crude futures rose 1.7 per cent on the week while Brent

inched up 1.5 per cent as compared to last week. Oil prices received general support from production cuts led by OPEC and

Russia, which started in January last year and are set to last through 2018, as well as from strong economic growth and financial

markets.

Ethylene prices in Asian markets gained further this week on expectations of continuous short supply in future ahead of lined up

cracker maintenance and turnarounds. In US, spot ethylene prices moved higher for the first week of 2018 amid production

issues and delays for several cracker projects. In Europe, ethylene prices were taking cues from Asian markets and inched up

during the week. Paraxylene prices in Asia rose this week amid surging crude oil values and support from downstream market as

buying interest was increasing. Asian paraxylene market will be robust in Q1 of this year on downstream PTA run rates. In US,

spot paraxylene prices were assessed up tracking higher prices in Asia and stronger crude while December paraxylene contract

talks were heard to be ongoing. Europe paraxylene spot rose to 2.5 year high this week on bullish pricing activity in Asia. Mono

ethylene glycol prices in Asia were assessed higher on tight supply and rising feedstock prices during the week. Henan Yongjin

Chemical is planning to restart its 200,000 tons per year MEG plant. In US, spot MEG prices were firm on the back of global

supply tightness. In Europe, MEG spot market started the year strong with price increases in the week on restocking activity.

Purified terephthalic acid prices in Asia jumped this week on higher upstream values and growing demand. China's Formosa

Chemicals & Fibre Corporation shut its PTA unit on 4 January 2018 which has 1.2m tons per year PTA capacity. Reignwood

Petrochemical is planning to restart its 1.4m tons per year PTA unit in the coming week. In US, PTA prices were steady for the

week. In Europe, PTA prices rolled over during the week. Polyester chip prices in Asia climbed on the back of surging PTA and

MEG cost during the week. In China, semi dull chip offers rose during the week as demand was modest while trading was

moderate. Some polyester producers will start maintenance according to their plans for the Spring Festival from next week

onwards, and the run rates will decline gradually. Overall, polyester chip prices are likely to range‐bound on supply tightness in

coming weeks. Polyester staple fibre prices moved up in China while they were stable in India and Pakistan during the week. In

China, PSF offers were hiked further this week on strong buying interest as downstream spinning mills and traders made larger

procurement. Downstream market was restocking during the week and as the Spring Festival is drawing near, demand for PSF

may cool down in seasonal ebb. Polyester filament yarn prices marched north in China while they rolled over in India and

Pakistan this week. In China, PFY offers inched up on the back of rising polyester staple fibre cost during the week. Downstream

mills bought hand to mouth ahead of Chinese New Year holiday. Most mills left for holidays, though some were still producing

for stock.

Benzene markets in Asia rebounded amid firm upstream market and moderate buying sentiment this week. In US, spot benzene

prices softened on increased supply in the week which is persisting since November and December. In Europe, benzene prices

declined on dull market sentiment this week. Caprolactum prices in Asia remained range‐bound this week despite rebounding

benzene cost while supply was ample. In China, CPL offers were largely stable as support from benzene market helped prices to

stay afloat, however demand was slightly weak during the week. Fibrant shut its 400,000 tons per year CPL line on 4 January

2018 due to the power outage at Sinopec Nanjing Chemical Industrials. The plant will resume operations after the urgent repair.

Shenyuan New Materials will shut its 400,000 tons per year CPL unit on 10 January 2018, and restart would be based on

maintenance progress and market conditions. Nylon or polyamide chip prices edged down further this week despite firm

feedstock cost while demand was weakening. In China, nylon chip offers were down amid cautious buying sentiment which

resulted in thin trading during the week. Overall, demand will be on a need‐to basis and prices are expected to weaken on dull

demand. Nylon filament yarn prices softened this week in tandem with declining nylon chip prices amid lackluster demand.

Producers operated at higher rates given passable profits while demand was stable. Overall, nylon yarn market will be stable to

down in coming weeks as the lunar year‐end is approaching soon.

Crude Oil: Prices gain on supply concerns

Executive Summary

Polyester chain: Prices jump from upstream to downstream

Nylon Chain: Benzene prices up, nylon yarn declines



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Acrylic Chain: Propylene prices rise, ASF edges down

Viscose staple fibre prices inched up in China while they were flat in India and Pakistan during the week. In China, VSF offers

were hiked this week as market sentiment was healthy amid brisk sales. Supply may remain stable amid unchanged industrial

run rate. VSF market sentiment is likely to improve further on strong demand as downstream buying interest is high for the

moment. As a result, prices will firm up in coming weeks on increasing demand. Prices in India and Pakistan were firm this week.

Viscose filament yarn prices were unchanged in the Asian markets of China, India and Pakistan this week. In China, viscose

filament yarn offers were stable on the back of firm raw material cost during the week. Some plants have been shut for

maintenance as planned at the end of 2017, and the overall sentiment is likely to be firm ahead of the Spring Festival. With

controllable inventory at the producers, VFY offers will remain range‐bound in coming weeks. In India, viscose filament yarn

prices were steady during the week.

Cotton: Prices decline after recent gains

Spun Yarn: Poly and viscose yarn price edges up

Propylene prices in Asia rose to 31‐month high this week on planned turnarounds, especially in Northeast Asia. Tianjin Bohai

shut its propane dehydrogenation (PDH) plant on 3 January 2018 for maintenance and is likely to resume operations after four

weeks. In US, spot propylene prices rose in the final days of 2017 and have remained elevated in the first week of 2018, as the

market awaited start‐up of a new production unit and restart of an existing one. Dow conducting maintenance on US PDH unit

which has propylene capacity of 750,000 tons per year and shall resume operations from February 2018. In Europe, propylene

prices tracked the trend in Asian market this week. Acrylonitrile prices in Asian markets were stable this week despite surging

feedstock prices. In US, spot acrylonitrile prices were assessed unchanged in the week amid strong domestic demand and little

activity in the export market. In Europe, acrylonitrile market was largely quiet as many players had only just returned from

holiday and some remained on extended breaks. Acrylic staple fibre prices declined in China while they were unchanged in India

and Pakistan during the week. In China, ASF producers lowered their offers again this week to get rid of the inventory pressure,

however they faced cost pressure from the rebounding feedstock market and as a result there are chances that they might raise

offers in coming weeks.

US cotton futures declined this week after recent gains on world stockpiles of cotton that was projected for the year. India

remains the world’s largest producer, with 2017‐18 production expected to grow 8.7% to 6.2 million tons. The second largest

producer, China, has production currently projected at 5.2 million tons, representing a 7.1% increase. Pakistan’s production

projections for 2017‐18 show an 11.5% increase to 1.9 million tons, while production in Turkey is estimated to grow 18 percent

to 829,000 tons. Other major cotton producing countries are expected to have positive growth attributed to increased area and

yields. The March US cotton Futures lost 61 points on the week to close at US cents 78.01 per pound. The Cotlook index edged

up US cent 0.30 on the week to close at US cents 89.90 per pound. The China Cotton Index declined 34 Yuan to 15,665 Yuan a

ton. In Pakistan, the KCA spot rate surged PakRs700 during the week at PakRs7,945 per maund ex‐Karachi. In India, cotton prices

were up INR100‐600 for some specs during the week while other specs fell INR100‐500 with benchmark Shankar‐6 trading at

INR40 900 a candy

Viscose Chain: VSF price climbs

Cotton yarn prices were stable to weak in China while they climbed in India and Pakistan during the week. In China, cotton yarn

prices moved down slightly in tandem with recent declines in cotton fibre prices. However, cotton yarn prices reached higher

levels on the import market. Seasonal demand is relatively low, whereas sales would not rebound before the end of spring

holidays, by late February. In India, cotton yarn prices rose sharply during the week over a new increase of cotton prices until

the end of the year. In Pakistan, cotton yarn market was pressured by rising cotton fibre cost and trended up for the week.

Polyester spun yarn prices inched up in China, fell in India while they were firm in India during the week. In China, spun

polyester yarn offers reacted to the surging polyester staple fibre prices during the week. In India, spun polyester yarn prices

resumed with downward spiral and fell again this week. In Pakistan, polyester yarn prices were unchanged during the week

supported by stable polyester staple fibre cost and growing demand. Viscose spun yarn prices were jumped in China and

Pakistan while they rolled over in India during the week. In China, spun viscose yarn market inched up in line with rising viscose

staple fibre cost during the week. Some plants have been shut for maintenance as planned at the end of 2017, and the overall

sentiment is expected to be stable ahead of the Spring Festival. In India, viscose spun yarn prices were stable during the week.

In Pakistan, viscose spun yarn prices rose this week on improving market sentiment. Blended yarn prices were steady in China

and India while they climbed in Pakistan during the week. In China, offers for PC yarn and PV yarn prices were firm during the

week.



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low high low high low high low high low high low high

890 890 752 752 825 825 697 697

1,304 1,306 1,102 1,104 1,141 1,147 964 969 617 628 521 531

726 734 614 620 817 871 692 738 992 992 838 838

926 926 783 783 1,122 1,122 950 950 1,104 1,114 933 941

1,192 1,194 1,007 1,009 1,207 1,272 1,022 1,077 1,455 1,499 1,230 1,267

1,130 1,180 955 997 1,520 2,150 1,290 1,820 1,917 1,962 1,620 1,658

1,110 1,160 938 980 1,380 1,660 1,170 1,410 1,627 1,671 1,375 1,412

1,320 1,430 1,115 1,208 2,435 2,535 2,058 2,142

1,882 1,898 1,591 1,604 2,601 3,218 2,198 2,719

1,210 1,280 1,023 1,082 1,740 1,910 1,470 1,620 2,182 2,270 1,844 1,918

1,400 1,480 1,183 1,251 1,950 2,150 1,650 1,820 2,292 2,777 1,937 2,347

1,650 1,700 1,394 1,437 2,090 2,230 1,770 1,890 2,072 2,182 1,751 1,844

1.00 1.00 1.12 1.19 1.37 1.35

1.00 1.00 1.21 1.21 1.19 1.20

1.00 1.00 1.35 1.82 1.70 1.66

1.00 1.00 1.85 1.77

1.20 1.24 1.40 1.90 1.56 1.59

1.40 1.51 1.60 1.69 1.98 2.06

1.11 1.20 1.44 1.50 1.67 1.69

1.43 1.33 1.12 1.13 1.05 1.22

Value Chain pricing intensity

POY / PTA+MEG

Paraxylene

75D POY

1000D conventional

Ethylene

POY / Polyester chip

Benchmark ratio: Asia = 100

USA (Del)

388

75D POY

370

361

Naphtha

MEG

150D textured

US$/ Ton

PTA

451

75D textured

1.2/1.5D SF

427

Asia (CFR)

DTY / POY

459

381

437

474

December‐17

US$/ Ton

371

Polyester Chain

Euro/ Ton US$/ Ton Euro/ Ton

Crude Oil

Euro/ Ton

400

439

PSF

Europe (Del)

MEG

PET chip / PTA+MEG

1.2/1.5D SF

PTA

6D solid (fiber fill)

Polyester chips

PFY

150D POY

500

1000

1500

2000

2500

3000

S O N D J F M A MJ J A S O N D

US$/M

T

ASIA

PTA MEG PSF POY

500

1000

1500

2000

2500

3000

S O N D J F M A M J J A S O N D

US$/M

T

EUROPE

PTA MEG PSF POY

500

1000

1500

2000

2500

3000

S O N D J F M A M

J J A S O N D

US$/M

T

USA

PTA MEG PSF POY



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►

►

(US$/Kg)

Min Max Min Max

1.17 1.45 1.41 1.45 1.42 1.45 2.2

1.19 1.48 1.42 1.47 1.43 1.45 2.2

1.37 1.68 1.60 1.63 1.61 1.63 10.8

1.25 1.55 1.47 1.50 1.48 1.49 11.8

1.31 1.78 1.63 1.71 1.65 1.69 ‐7.9

1.20 1.67 1.54 1.60 1.55 1.59 ‐9.2

1.79 1.89 1.79 1.88 1.79 1.79 0.0

1.23 1.58 1.48 1.56 1.50 1.54 ‐2.4

1.09 1.45 1.33 1.39 1.35 1.39 ‐3.7

Figure in italic is average for the period

MarketPrev 6 wks

Local

Term

POY 75D/72F

POY 75D/36F

1.44

Product SpecsLast 12 mths

Changshu

POY 130/34

Local

India1.481.47

FDY 75D/36F

1.88

1.61

1.43

Polyester filament yarn prices marched north in China while they rolled over

in India and Pakistan this week. In China, PFY offers inched up on the back of

rising polyester staple fibre cost during the week. Trading sentiment was

modest while producers were operating at stable run rates. Downstream mills

bought hand to mouth ahead of Chinese New Year holiday. Most mills left for

holidays, though some were still producing for stock. Overall, PFY offers are

expected to firm up in coming weeks on increasing raw material costs. In

India, PFY prices were firm during the week. In Pakistan, PFY offers were

pegged stable during the week.

In China, 75/72 POY offers were at US$1.46‐1.48 a kg in Shengze and 75/36 at

US$1.45‐1.46 a kg, both up US cents 2‐3 on the week. In India, POY prices

were stable with 130/34 POY at INR95 per kg or US$1.48 a kg and 115/108 at

INR103 per kg or US$1.61 a kg, both flat on the week. In China, DTY 75/72

rose US cents 3 at US$1.99‐1.97 a kg in Shengze and 75/36 at US$1.92‐1.94 a

kg. In Pakistan, selling indication for 150/48 were at PakRs70‐76 per pound

(US$0.63‐0.75 a pound). In Shengze, offers for 150/96 FDYs were up US cents

4 at US$1.39‐1.40 a kg, while those for 50/24 FDY jumped US cents 4 at

US$1.69‐1.71 a kg.

Local

1.61

1.50

1.29

FDY 50D/24F Local

Shengze

Shengze

LocalFDY 63D/24F

DTY 75/24/0

Polyester Filament Yarn

Local

Pakistan

Shengze

1.82

1.57

1.51

Local

FDY 150D/96F

5‐Jan

1.44

1.67

Shengze

1.35

…contd/‐

POY 114/108

% YoY

1.59

1.34

1.36

India Local

29‐Dec

Changshu Local

0.30

0.60

0.90

1.20

1.50

1.80

O N D J F M A M J J A S O N D J

US$/Kg

Polyester Filament Yarn

China POY Pakistan DTY India POY



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►

►

(US$/Kg)

Min Max Min Max

1.05 1.40 1.33 1.39 1.34 1.38 7.2

1.16 1.31 1.26 1.31 1.26 1.26 12.9

1.23 1.38 1.35 1.38 1.36 1.38 2.3

1.07 1.47 1.34 1.39 1.38 1.39 15.4

0.53 0.80 0.68 0.73 0.68 0.70

0.60 0.74 0.64 0.71 0.64 0.64


India

0.66

1.4 D/38mm SD

1.23

1.22

India 1.5 D/38mm SD / Cotlook A Index

Del


1.36

TermLast 12 mths Prev 6 wks

1.29

0.66

3‐dimensional‐crimp hollow 6‐

15D

0.70

% YoY

East China

China

29‐Dec

1.35

Re‐cylced

1.36

5‐Jan

0.67

Local

1.4D/38mm SD

Polyester Staple Fibre

Local

Main

1.281.5 D/38mm SD

Virgin fibre

Product Specs

Polyester staple fibre prices moved up in China while they were stable in India

and Pakistan during the week. In China, PSF offers were hiked further this

week on strong buying interest as downstream spinning mills and traders

made larger procurement. Inventories of major PSF producers were slightly

down to 6‐10 days’ worth. Downstream market was restocking during the

week and as the Spring Festival is drawing near, demand for PSF may cool

down in seasonal ebb. In Pakistan, PSF prices were unchanged this week after

recent upward revision. In India, PSF offers were steady during the week.

In China, offers for 1.4D direct‐melt‐spun PSF in Jiangsu and Zhejiang rose to

8.95‐9.10 Yuan a kg (US$1.38‐1.40 a kg, up US cents 3 on the week). The same

in Fujian and Shandong were up US cents 3 at US$1.36‐1.42 a kg. Sinopec

issued its nomination for January with 1.4D SD at 9.45 Yuan a kg (US$1.45 a

kg) and 1.2D bright at 10.35 Yuan a kg (US$1.59 a kg). In India, 1.2D PSF prices

were at INR87.25 a kg or US$1.36 a kg, stable on the week. In Pakistan, 1.4D

PSF prices were at PakRs140‐142 a kg (US$1.26‐1.28 a kg, unchanged on the

week) in Karachi Market.

Pakistan

1.24

Market

China 1.4D/38mm SD / Cotlook A index

0.90

1.00

1.10

1.20

1.30

1.40


US$/Kg

Polyester Staple Fibre

China Pakistan India



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Min Max Min Max

1.66 1.93 1.87 1.93 1.90 1.93 1.6

2.09 2.21 2.09 2.20 2.12 2.09 0.0

1.67 1.99 1.93 1.99 1.94 1.97 1.6

1.70 2.00 1.95 2.00 1.96 1.99 4.0

1.35 1.56 1.39 1.46 1.41 1.39 9.4

1.45 1.58 1.45 1.53 1.47 1.45 5.8

1.41 1.76 1.60 1.65 1.61 1.64 ‐11.6

1.31 1.58 1.31 1.38 1.33 1.31 0.0

1.25 1.51 1.25 1.32 1.25 1.25 ‐1.6

1.40 1.65 1.60 1.65 1.60 1.65 17.9

1.35 1.60 1.55 1.60 1.55 1.60 18.5

1.40 1.65 1.60 1.65 1.60 1.65 17.9

1.55

1000D/192F high stretch

2.19

1.39

1.34Local

1.46

DTY 150D/288F

Local

FOBShanghai

Local

Local

1.49

1.42

1.48

Shengze

MarketLast 12 mths

DTY 300/96 INT

1.96

1.55

DTY 75D/144F

Term

Local

Local

1.62

Pakistan

Pakistan

Product Specs

China Main Port

1.28

Shanghai

1.56

Pakistan

1.56

Pakistan

1.83 1.95

1000D/192F high stretch, low

shrink

29‐Dec

DTY 75/48/0

1.89

1.52

2.13

DTY 150/48/INT

FOB

5‐Jan

Polyester Filament Yarn (contd..)

% YoYPrev 6 wks

Pakistan

Local

Changshu

Local

DTY 75D/36F

FOB

1.79Local

1.61

1.61

1000D/192F high stretch, low

shrink

DTY 300/96/0

DTY 75D/72F

DTY 150/48/0

1.43

Changshu

1.86

Shengze



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►

►

(US$ / Ton)

Min Max Min Max

921 1,225 1,170 1,225 1,194 1,225 3.2

943 1,232 1,187 1,232 1,209 1,232 5.3

1,109 1,402 1,329 1,402 1,377 1,402 9.6

1,050 1,250 1,180 1,240 1,209 1,240 3.3

1.63 1.85 1.63 1.68 1.64 1.68

1.22 1.62 1.25 1.31 1.27 1.25

1.47 1.82 1.62 1.65 1.62 1.65

1.17 1.46 1.24 1.29 1.25 1.24


Taiwan‐Korea SD chips/ Korea FOB PTA

1,351

1.65

Prev 6 wks

Local

Market % YoY

Asian marker, FOB Taiwan/Korea for semi‐dull continuous spinning fibre grade

chip gained US$31 at US$1,240‐1,242 a ton. In China, semi dull chip offers

jumped at 7,950‐8,000 Yuan a ton (US$1,225‐1,232 a ton, up US$31 as

compared to previous week) while super bright chip offers rose to 8,000‐

8,050 Yuan a ton (US$1,232‐1,240 a ton, up US$24 on the week). CDP chip

offers edged up at 9,100‐9,150 Yuan a ton (US$1,401‐1,409 a ton, rose US$25

on the week).

Polyester Chips

5‐Jan

Polyester chip prices in Asia climbed on the back of surging PTA and MEG cost

during the week. In China, semi dull chip offers rose during the week as

demand was modest while trading was moderate. Some polyester producers

will start maintenance according to their plans for the Spring Festival from

next week onwards, and the run rates will decline gradually. Semi bright chip

market in China mirrored the trend in semi dull chip market. CDP chip prices

also moved up this week as buyers purchased on hand‐to‐mouth basis.

Overall, polyester chip prices are likely to range‐bound on supply tightness in

coming weeks.

1,094

Last 12 mths

Taiwan / ROK

Cont polymerised (SD, fil grd)1,185

29‐Dec

1,148

1,101

1.27

1,249

FOB

China SD fil gr chips / China mainstream MEG

1.63

China

China SD fil gr chips / China mainstream PTA

Local

Semi‐dull, fibre grade

Product Specs

Local

1.73

China

Super bright, fil grade

1.29

Taiwan‐Korea SD chips/ Korea FOB MEG

Term

CDP

China


1,201

1.281.35

1,204

1.65

750

850

950

1,050

1,150

1,250

1,350


US$/ton

Polyester Chips

China Taiwan



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$/ Ton)

Min Max Min Max

605 740 715 740 735 740 14.2

605 745 720 745 735 745 18.3

605 735 705 735 720 735 17.6

605 745 710 745 730 745 16.2

674 909 825 909 872 909 13.2

0.76 0.84 0.80 0.82 0.81 0.80

0.73 0.87 0.79 0.81 0.79 0.79


China

0.77

China

Last 12 mthsTerm

China733

29‐Dec

717

0.810.80


Asian PTA prices, CFR China were up US$15 at US$745.00‐755.00 a ton and

CFR Southeast Asia marker at US$759.00‐769.00 a ton. In China, offers for

bonded goods were up US$10 at US$745‐760 a ton and discussions for nearby

month cargoes were talked at US$745‐755 a ton. Yisheng Petrochemical hiked

its self‐lifting price to US$760 a ton, rose US$10 from previous week while

Hengli Petrochemical kept at US$745 a ton. European contract price for PTA

were at Euro679‐718 a ton FD NWE. In US, PTA price was at US$970 a ton.

Korea/ Taiwan

Purified terephthalic acid prices in Asia jumped this week on higher upstream

values and growing demand. China's Formosa Chemicals & Fibre Corporation

shut its PTA unit on 4 January 2018 which has 1.2m tons per year PTA

capacity. It is located in Ningbo, China and was expected to restart on

weekend. PTA market is likely to rise in coming weeks and might resist any

decline in short term. Reignwood Petrochemical is planning to restart its 1.4m

tons per year PTA unit in the coming week. In US, PTA prices were steady for

the week. In Europe, PTA prices rolled over during the week.

Prev 6 wksMarket

China

CIF

0.79

5‐Jan % YoY

659

869

651

Domestic producers766

727

Korea FOB / Korea FOB paraxylene

655

Imported goods

Offers

Domestic

Local

663

Main

Product Specs

FOB

Purified Terephthalic Acid

727

CIF

China mainstream / China spot paraxylene

Goods in bonded areas

500

550

600

650

700

750

800


US$

/ton

Purified Terephthalic Acid

Korea China



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

Min Max Min Max

668 990 910 990 955 990 10.1

675 990 910 990 955 990 7.6

665 985 905 985 945 985 8.2

673 985 905 985 950 985 9.8

850 1,100 1,030 1,060 1,060 1,060 3.9

1,030 1,080 1,080 1,080 1,080 1,080 4.9

890 1,180 1,020 1,050 1,050 1,050 0.0

0.56 0.89 0.68 0.71 0.69 0.71

0.57 0.89 0.68 0.70 0.69 0.70


Asia

SE Asia

Mono ethylene glycol prices in Asia were assessed higher on tight supply and

rising feedstock prices during the week. China’s Longyu Coal Chemical is

planning to construct a new 200,000 tons per year mono ethylene glycol plant

at Shangqiu in Henan province. Henan Yongjin Chemical is planning to restart

its 200,000 tons per year MEG plant. In 2017, mono ethylene glycol margins in

Asia surged higher to new highs for the decade amid higher product and co‐

product prices. In US, spot MEG prices were firm on the back of global supply

tightness. In Europe, MEG spot market started the year strong with price

increases in the week on restocking activity.

Asian spot MEG prices rose US$35 on the week with CFR China at US$985‐990

a ton and CFR South East Asia at US998‐1,005. In China, offers for nearby‐

month cargoes were up US$45 at US$995‐1,000 a ton, with bids at US$990‐

995 a ton and discussions were talked at US$990 a ton. European MEG prices

were at Euro930 a ton FCA NWE. In US, spot MEG were at US$1,084‐1074 a

ton FOB USG while December contracts were assessed at 41‐47 cents per

pound, rolled over from last month.

Term

China

Korea FOB / NE Asia CFR ethylene

853

China

1,073

Front month offer

29‐Dec 5‐JanProduct SpecsPrev 6 wks

(US$ / Ton)

1,0451,028

% YoY

CFR Asia

Last 12 mths

Mono Ethylene Glycol

1,080

927

934CIF

0.690.72

CFR

China

0.72

849

859

930850

Market

0.69China mainstream CIF / NE Asia CFR ethylene

CIF

CFR Asia


Buying ideas

MEGlobal's nomination

Mainstream CIF

Shell's nomination CFR Asia

936

1,055

Goods in bonded areas

Asia

1,005

Asia

Sabic's nomination

500

600

700

800

900

1,000

1,100

1,200


US$/ton

Mono Ethylene Glycol

China MEG Global



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

744 927 878 927 908 927 9.3

686 858 814 858 842 858 10.7

730 947 899 947 929 947 9.0

730 947 899 947 929 947 9.0

800 980 920 980 980 980 9.0

830 980 940 940 940 940 10.6

1.47 1.90 1.48 1.53 1.48 1.53

1.50 2.00 1.51 1.57 1.51 1.57

1.85 2.50 1.85 1.92 1.92 1.89


FOB

1.50

1.872.13

Contract

CFR

% YoY

853

894

Korea FOB / Japan CFR naphtha

Asia

Korea

897

5‐Jan


Prev 6 wks

Paraxylene

834

Spot

Europe FOB / Rotterdam naphtha

Paraxylene prices in Asia rose this week amid surging crude oil values and

support from downstream market as buying interest was increasing. Asian

paraxylene market will be robust in Q1 of this year on downstream PTA run

rates. Meanwhile, isomer‐grade xylene prices in Asia hit an 11‐month high on

firmer crude and steady demand during the week. In US, spot paraxylene

prices were assessed up tracking higher prices in Asia and stronger crude

while December paraxylene contract talks were heard to be ongoing. Europe

paraxylene spot rose to 2.5 year high this week on bullish pricing activity in

Asia.

FOB

Last 12 mths

915

915

1.54

TermProduct Specs

852

Market

853

767

1.69

China

940Asia

Asian paraxylene markers, CFR Taiwan/China was up US$18 at US$947.00 a

ton while FOB Korea surged US$19 at US$927 a ton. Isomer‐grade mixed

xylene prices rose US$19 at US$740 a ton FOB Korea during the week.

European spot paraxylene prices were up US$16 at US$858 a ton FOB

Rotterdam. In US, prompt spot paraxylene further gained US$10 at US$870 a

ton FOB USG, while spot mixed xylenes inched up US cents 7 at US cents 232 a

gallon FOB USG.

Taiwan

Contract

29‐Dec

Exxon's nomination

970

829Europe

Taiwan CFR / Japan CFR naphtha1.73

Indemitsu ‐nomination

500

600

700

800

900

1,000


US$/ton

Paraxylene

Korea China W Europe



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

901 1,213 1,103 1,182 1,176 1,182 31.1

908 1,228 1,113 1,182 1,170 1,182 13.7

402 827 601 634 623 628 ‐8.1

929 1,404 1,309 1,404 1,379 1,404 24.4

849 1,294 1,179 1,294 1,269 1,294 32.2

879 1,374 1,259 1,374 1,329 1,374

1.45 2.06 1.55 1.64 1.55 1.64

1.92 2.49 2.00 2.14 2.06 2.14

2.25 3.72 2.53 2.66 2.66 2.60


CFR

SE Asia CFR / Japan CFR naphtha

1,075

Korea


3.15

% YoYLast 12 mths

1.73

NW Europe

CIF


Ethylene prices in Asian markets gained further this week on expectations of

continuous short supply in future ahead of lined up cracker maintenance and

turnarounds. Malaysia's Petronas Chemicals to shut its 400,000 tons per year

ethylene cracker in July 2018 for maintenance. South Korea's LG Chem is

planning to shut its 1.16m tons per year ethylene cracker in Yeosu on 29

October 2018 for maintenance. In US, spot ethylene prices moved higher for

the first week of 2018 amid production issues and delays for several cracker

projects. In Europe, ethylene prices were taking cues from Asian markets and

inched up during the week.

Asian ethylene markers, Northeast CFR rose US$25 at US$1,404‐1,406 a ton

while Southeast CFR was also up US$25 at US$1,294‐1,296 a ton. As a result,

the gap between were unchanged at US$110 during the week. European spot

ethylene climbed Euro1 at Euro981.50‐986.50 ton FD while CIF values were up

US$5.50 at US$1,181.50‐1,186.50 a ton. In US, spot ethylene edged up US

cent 0.25 at US cents 28.50‐29.00 per pound FD USG while November

contract price was settled at US cents 33.25 per pound, down US cent 1.5

from October.

NW Europe FD Spot / Rotterdam naphtha

5‐Jan

FD Phy.

Term 29‐Dec

1,228

NW Europe

2.60

1,120

SE Asia

1,348

1,308

607

CFR

Product Specs

617

1,132

US Gulf

NE Asia

2.06

1,196

FD Spot

Prev 6 wks

1,148

2.17

1,154

Market

Ethylene

1,141

1.57

FOB

250

450

650

850

1,050

1,250

1,450


US$/ton

Ethylene

SE Asia W Europe USA



Tel: +91 22 66291122 | Mobile: +91 77188 80355


882 883 745 746 1,002 1,003 846 847 973 973 822 822

1,983 2,025 1,675 1,711 2,503 2,704 2,115 2,285 1,938 1,941 1,638 1,640

2,275 2,295 1,922 1,939

6,744 6,810 5,720 5,770

8,353 9,058 7,070 7,670

8,045 8,155 6,798 6,891

5,179 5,312 4,380 4,500

4,232 4,364 3,590 3,700

3,010 3,050 2,544 2,577 4,937 5,091 4,180 4,320 5,179 6,502 4,377 5,494

5,466 6,039 4,640 5,120 7,273 8,045 6,146 6,798

2,840 2,900 2,400 2,451

2,830 3,370 2,391 2,848 4,077 4,430 3,450 3,750 3,989 4,342 3,371 3,669

3,460 3,901 2,930 3,300 3,504 5,179 2,961 4,377

0.58 0.47 0.95 0.78 1.00 1.00

0.71 0.78 1.02 1.02 1.00 1.00

2.25 2.29 2.50 2.70 1.99 1.99

1.15 1.13

1.52 1.51

Euro/Ton

NFY

Naphtha

40D warpknit

BCF 1200D

370

361427

US$/Ton

Asia Europe

459

US$/Ton Euro/Ton

Crude Oil

POY 70D

381

439

Chip / CPL

474


70D/24F weaving

DTY 70D/68F

December‐17

DTY 40D hoseiry

Euro/Ton

388

Polyamide Chips

Nylon Chain

CPL / Benzene

Indl Yarn 840D

Caprolactum

371

Benzene

Caprolactum

US$/Ton

70D weaving tube

DTY 15D

840D, Industrial

USA

70D NFY / CPL

POY 15D

437

400451

Benchmark ratio: USA = 100

70D weaving (tube)

0

1000

2000

3000

4000


US$ /TO

N

ASIA

Bz CPL NFY

0

1000

2000

3000

4000


US$ /TO

N

EUROPE

Bz CPL NFY

0

1000

2000

3000

4000


US$/TON

USA

Bz CPL NFY



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

3.34 4.39 4.30 4.36 4.36 4.31 3.7

2.61 3.77 3.46 3.53 3.49 3.51 ‐0.9

2.57 3.83 3.49 3.56 3.52 3.54 ‐0.9

1.16 1.63 1.51 1.55 1.54 1.55

1.49 1.91 1.73 1.80 1.79 1.80


29‐Dec

Local

China DTY 70D / China caprolactum mainstream offer

3.51China

Product Specs

LocalDTY 70D/24F SD

China

Nylon filament yarn prices softened this week in tandem with declining nylon

chip prices amid lackluster demand. Producers operated at higher rates given

passable profits while demand was stable. Demand was rigid as buyers were

unwilling to pay higher prices. Run rate of domestic nylon textile yarn

producers was at 70‐75% with capacity at around 3.55 million tons a year.

Major producers ran at around 70‐80% capacity with higher levels seen at

around 90‐100%, however some ran at 50‐60%. Overall, nylon yarn market

will be stable to down in coming weeks as the lunar year‐end is approaching

soon.

FDY 40D/12F SD

China DTY 70D / China SD chip local

China

1.77

TermMarket

1.75

4.32

Nylon Filament Yarn

Local

% YoY

3.96DTY 30D/10F SD

1.53

3.54

Prev 6 wks

3.28

In China, nylon FDY70D/24F SD prices were at 21.50‐22.00 Yuan a kg (US$3.31‐

3.39 a kg), while FDY40D was at 23.00‐23.8=70 Yuan a kg (US$3.54‐3.65 a kg),

both up US cents 2 on strong local currency. Nylon DTY prices were firm with

70D/24F at 22.80‐24.20 Yuan a kg (US$3.51‐3.73 a kg, up US cents 2) and

30D/10F were down at 28.00‐29.20 Yuan a kg (US$4.31‐4.50 a kg, fell US

cents 5). Monofilament 30D prices were at 23.50‐24.50 Yuan a kg (US$3.60‐

3.75 a kg) while nylon staple fiber 1.5D prices were at 19.50‐20.50 Yuan a kg

(US$2.98‐3.14 a kg).


Last 12 mths

3.22

5‐Jan

1.48

1.80

2.20

2.60

3.00

3.40

3.80


US$/Kg

NFY: China

FDY 70D/24F SD DTY 70D/24F SD



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

954 1,179 1,119 1,179 1,149 1,179 19.2

954 1,179 1,129 1,179 1,149 1,179 19.2

1,103 1,449 1,353 1,389 1,153 1,153 10.0

1,025 1,422 1,301 1,422 1,334 1,422 38.7

794 998 896 974 945 974 16.1

763 1,147 973 1,064 1,042 1,064 21.8

1,577 2,529 2,110 2,529 2,212 2,529

1.04 1.28 1.21 1.25 1.22 1.21

1.17 1.49 1.31 1.39 1.32 1.31

0.56 1.47 0.56 0.62 0.60 0.56



1,141

Prev 6 wks

FE Asia

% YoY

1,007

882

Product Specs

USA homopolymer / USA poly gr propylene

1,983

CFR1,049 1,147

2,240

CFR

29‐DecMarket

Korea

0.71

Homopolymer

FOB

1,048

Propylene polymer grade


FD Phy.

5‐Jan

0.60

927

CIF

1,367

US Gulf

USA

Raffia grade

CIF Europe

1,218

Propylene polymer grade

NWE homopolymer / NWE polymer gr. propylene

Last 12 mths

1.19

Injection grade

1,334

FD1,322

NW Europe

952

Term

Propylene

Polypropylene

1.39

1.23

Homopolymer

FAS

Haston

FE Asia

Asian CFR Far East polypropylene raffia and injection grade markers rose

US$30 on the week at US$1,179‐1,181 a ton. In Africa and Turkey PP prices

were at US$1,140‐1170 a ton CFR Turkey and US$1,140‐1150 a ton CFR North

Africa. In Europe, PP spot prices were flat at Euro1,153‐1,157 a ton FD NWE.

US spot homopolymer injection‐grade PP surged US$88 at US$1,422‐1,444 a

ton FAS Houston. Latin American PP spot were at US$1,420‐1,442 a ton CFR

WCSA.

Polypropylene prices in Asian markets surged in line with rising upstream

energy and propylene feedstock values while buying sentiments improved

during the week. Polypropylene sellers were turning to Southeast Asia in

search of alternative markets to China, where growing domestic capacities

were expected to lead to a slowdown in imports in the long run. China's

Huajin Chemical restarted its PP line from maintenance on 5 January 2018

which has 50,000 tons per year polypropylene capacity. Vietnam will increase

its import duty on polypropylene copolymer grade cargoes from non‐ASEAN

suppliers to 3% starting January 2018. A polypropylene major in Malaysia

rolled over list prices for January deliveries amid subdued demand.

1.36

800

900

1,000

1,100

1,200

1,300

1,400

1,500

1,600


US$/ton

Polypropylene ‐ Raffia grade

FE Asia W Europe USA



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

1,700 2,575 2,240 2,300 2,240 2,240 0.7

1,730 2,600 2,260 2,300 2,260 2,260 0.4

1,827 3,059 2,735 2,770 2,755 2,757 ‐4.3

1,784 2,965 2,526 2,664 2,586 2,773 ‐7.3

2,931 3,928 3,851 3,928 3,903 3,928 13.3

2,931 4,005 3,926 4,005 3,948 4,005 15.6

1.11 1.29 1.14 1.16 1.15 1.15

0.98 1.17 1.02 1.09 1.02 1.09


% YoY

Nylon 66 wet chips (EPR27)

Local

China

29‐Dec 5‐Jan

3,371

1.06


China

Nylon or polyamide chip prices edged down further this week despite firm

feedstock cost while demand was weakening. In China, nylon chip offers were

down amid cautious buying sentiment which resulted in thin trading during

the week. The overall operating rates of polymerization plants were at 78%

due to plant operation resumption at Mesbon. Since chip production started

to gain limited profits, the market may be stable to slightly weak if CPL does

not soften much. Overall, demand will be on a need‐to basis and prices are

expected to weaken on dull demand.

1.07

2,421

2,758

1.15

Henan Shema

Prev 6 wks

Ex work

Nylon Chips

SD high speed spinning (Taiwani)

2,616

Market

Local

CIF

Last 12 mths

3,879

2,287

SD high speed spinning

2,144

2,520

2,182

Ex workHenan Shema

Conventional Spng Chips

SD high speed spinning

In China, bright conventional spinning nylon‐6 prices fell at 16,400‐18,000

Yuan a ton (US$2,527‐2,773 a ton, down US$60 as compared to last week)

while semi‐dull high‐speed spinning chip declined at 17,900‐18,200 Yuan a ton

(US$2,757‐2,803 a ton, up US$2 due to strong local currency). High‐end

engineering plastics grade chip prices were quoted at 17,100‐18,100 Yuan a

ton (US$2,634‐2,788 a ton). Taiwan‐origin and South East Asian high‐speed

nylon chips offers were stable at US$2,260 a ton.

China

SE Asia SD chip / SE Asia caprolactum CFR

CIF

China SD chip local / China caprolactum offer price

Nylon 66 dry chips (FYR27D)

2,273

3,359

3,950

SE Asia

TermProduct Specs

1.17

1,000

1,400

1,800

2,200

2,600

3,000

3,400


US$/ton

Nylon chip

SE Asia China



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

1,500 2,250 1,950 2,000 1,980 1,950 2.6

1,500 2,250 1,950 2,000 1,950 1,950 2.6

1,700 2,250 1,980 2,050 1,980 1,980 4.2

1,500 2,280 1,950 1,980 1,950 1,950 2.6

1,668 2,922 2,492 2,542 2,525 2,542 ‐8.3

1,827 2,913 2,511 2,586 2,586 2,511 ‐8.4

1.90 2.75 2.20 2.36 2.23 2.20

1.90 2.75 2.20 2.36 2.26 2.20


Caprolactum prices in Asia remained range‐bound this week despite

rebounding benzene cost while supply was ample. In China, CPL offers were

largely stable as support from benzene market helped prices to stay afloat,

however demand was slightly weak during the week. Fibrant shut its 400,000

tons per year CPL line on 4 January 2018 due to the power outage at Sinopec

Nanjing Chemical Industrials. The plant will resume operations after the

urgent repair. Shenyuan New Materials will shut its 400,000 tons per year CPL

unit on 10 January 2018, and restart would be based on maintenance progress

and market conditions.

The SE and FE Asian caprolactum markers on the lower end were at US$1,950‐

1,980 a ton. In China, spot liquid good offers were at 16,500‐16,600 Yuan a

ton (US$2,542‐2,557 a ton, up US$17 due to strong local currency) while solid

goods were at 16,500‐16,800 Yuan a ton (US$2,542‐2,588 ton, rose US$17 on

the week). Sinopec issued its January nomination at 16,500 Yuan a ton

(US$2,542 a ton) while Fibrant lowered January nomination to 16,600 Yuan a

ton (US$2,557 a ton) for liquid goods. European goods were at

US$1,980‐2,000 a ton.

Caprolactum

% YoYTerm

FE Asia1,841

Last 12 mths

1,851

FE Asia CFR / Korea benzene CFR

China1,970

Fibrant Nomination

Market

From East Europe

2,027

5‐JanProduct Specs

Contract

China

1,977

Mainstre

am off

2,555

29‐Dec

CIF

2,280 2,510

2,383

CFR

CIF

CFR Asia

From Japan

CFR

1,912

2.25

China

1,977

2.25

2.25

2.25

1,841


Prev 6 wks

SE Asia

SE Asia CFR / Korea benzene FOB

800

1,300

1,800

2,300

2,800

3,300


US$/ton

Caprolactum

SE Asia Japan China



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

715 1,041 849 902 876 886 ‐0.1

732 1,040 927 1,024 942 936 3.6

744 1,076 946 1,063 1,007 954 5.1

744 1,059 921 1,037 969 943 4.5

717 1,044 869 898 869 877 ‐1.4

1.81 2.59 1.88 2.04 1.88 1.88

1.80 2.27 1.86 2.02 1.86 1.86

1.89 2.52 1.89 2.20 1.92 1.89

1.85 2.61 1.93 2.28 2.05 1.93


Rotterdam992865

Korea FOB / Asia crude CFR

Benzene markets in Asia rebounded amid firm upstream market and

moderate buying sentiment this week. Yangzi Petrochemical restarted

reformate unit which has benzene capacity of 100,000 tons per year. Phase II

CNOOC Huizhou increased its aromatics unit operating rate to 70% which has

total benzene capacity of 110,000 tons per year. Benzene inventory levels in

east China increased by 2.64 per cent week on week. In US, spot benzene

prices softened on increased supply in the week which is persisting since

November and December. In Europe, benzene prices declined on dull market

sentiment this week.

879FOB

ARA, Europe

FOB

FOB

967

Term 29‐DecPrev 6 wksLast 12 mths

SE Asia FOB / Asia crude

2.03

FOBUS Gulf

% YoY

Benzene

2.07

Rotterdam FOB / European Brent

971

820

5‐Jan

Korea

Product Specs

2.14

2.15 2.08

818


SE Asia

Asian benzene markers, FOB Korea climbed US$10 at US$885.50‐886.50 a ton

while CFR China benzene rose US$7.5 at US$894.50‐895.50 a ton. In Europe,

spot prices lost US$53 at US$953.50‐954.50 a ton FOB Rotterdam and

US$943.00‐944.00 a ton CIF ARA, fell US$25.50 on the week. European

benzene contract for January was settled at Euro792 a ton, down Euro55 a ton

from the previous month. US spot benzene pricing declined US cents 2 at US

cents 312.95‐313.05 per gallon while January benzene contracts fell US cents

8 to settle at US cents 322 per gallon FOB USG.

CIF858

Market

862

881

2.01

1.94

US Gulf FOB / US Light crude

400

500

600

700

800

900

1,000

1,100

1,200


US$/ton

Benzene

S Korea W Europe USA



Tel: +91 22 66291122 | Mobile: +91 77188 80355


907 909 766 768 941 946 795 799 1,040 1,051 879 888

1,730 1,740 1,462 1,470 1,818 1,822 1,536 1,540 1,615 1,525 1,365 1,289

2,240 2,335 1,892 1,973 2,540 2,660 2,150 2,250 2,250 2,350 1,901 1,986

1.00 1.00 1.00 1.00

1.00 1.00 1.05 1.05 0.93 0.88

1.00 1.00 1.13 1.14 1.00 1.01

1.29 1.34 1.40 1.46 1.39 1.54

December‐17

Asia

Acrylic Chain

US$/ton

474

459

Acrylonitrile

451 427


ASF

370437388

Propylene

361381

439

`

Acrylonitrile

Propylene

ASF / Wool Aus. EMI

ASF 1.5‐3.0D

Euro/ton Euro/ton

ASF 1.5‐3.0D

Naphtha

ASF / ACN

400


371

US$/ton Euro/ton

Europe USA

Crude Oil

US$/ton

0

2000

4000

6000


US$ /TO

N

ASIA

Py ACN ASF

0

2000

4000

6000


US$/TON

EUROPE

Py ACN ASF

0

2000

4000

6000


US$/TON

USA

Py ACN ASF



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

1.88 2.60 2.23 2.60 2.23 2.23 11.6

1.75 2.34 2.21 2.34 2.21 2.21 26.1

1.83 2.67 2.59 2.63 2.61 2.63 33.6

1.83 2.67 2.59 2.63 2.61 2.63 33.6

1.83 2.67 2.59 2.63 2.61 2.63 33.6

1.83 2.67 2.59 2.63 2.61 2.63 33.6

1.89 2.61 2.22 2.60 2.22 2.23 12.0

1.24 1.57 1.24 1.37 1.24 1.24

1.10 1.46 1.16 1.23 1.23 1.23


Local

India

Taiwan

India

1.40

India

3D tow

2.30

Local

Mainstre

am off

2.03

2.25China

2.61

1.5D/38mm

2.61

% YoY

Local

India

1.5D/38mm

1.5D/38mm China / North China ACN self lifting

2.30

1.5D/38mm Taiwan / NE‐SE Asia ACN CFR1.22

1.31

2.61

3D wet spin2.43

2.30

2.30

1.27

1.2D

Acrylic Staple Fibre

China

29‐Dec

2.61

1.5D/38mm

Prev 6 wksTerm

Mainstre

am off

Last 12 mthsMarket

2.43

FOB2.25

Local0.9D

Acrylic staple fibre prices declined in China while they were unchanged in

India and Pakistan during the week. In China, ASF producers lowered their

offers again this week to get rid of the inventory pressure, however they faced

cost pressure from the rebounding feedstock market and as a result there are

chances that they might raise offers in coming weeks. Producers slightly

ramped up units’ utilization rate to fulfil downstream demand, unwilling to

output more. And feedstock rebounded against bigger‐than‐expected

markdown in AF prices, which will possibly be corrected back in future. Prices

in India and Pakistan rolled over during the week.

2.24

5‐JanProduct Specs


In China, ASF prices fell with medium‐length fibre and cotton‐type at US$2.22‐

2.45 a kg, down US cent 1 as compared to previous week. Sinopec Chemicals

issued its January contracts for ASF with 1.5D at 14.55‐15.10 Yuan a kg

(US$2.24‐2.33 a kg) and medium length ASF at 14.60‐15.10 Yuan a kg

(US$2.25‐2.33 a kg). In India, ASF offers were at INR167‐168 a kg (US$2.60‐

2.61 a kg) while in Pakistan, 1.2D ASF were at PakRs.280 a kg (US$2.53 a kg).

Taiwan origin 3D bright ASF tow offers were stable on the week at US$2.21‐

2.30 a kg.

1.40

1.60

1.80

2.00

2.20

2.40

2.60

2.80


US$/Kg

Acrylic Staple Fibre

Taiwan China India



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$/Ton)

Min Max Min Max

1,564 2,627 2,005 2,119 2,020 2,095 22.5

1,200 2,000 1,800 1,900 1,800 1,800 50.0

1,060 1,910 1,725 1,750 1,725 1,725 62.7

1,098 1,898 1,803 1,833 1,803 1,803 64.2

1.34 2.04 1.72 1.92 1.77 1.72

1.21 1.96 1.57 1.80 1.62 1.57

1.29 1.90 1.59 1.83 1.73 1.59

0.09 1.83 0.10 0.11 0.11 0.10


1.83

Product Specs

Acrylonitrile

Term

CIF


1,606

Market

Self

lifting

China

Prev 6 wks

1,629

2,056

Europe

CFR

North China

29‐Dec

1,578

Europe / NW Europe propylene FD

1.67

1,818

0.18

China CFR / China propylene CFR

FOB

1,850

US Gulf

0.11

1.701.59

US Gulf / USA propylene spot

1.63 1.74

FE Asia CFR / Korea propylene FOB

Last 12 mths

Acrylonitrile prices in Asian markets were stable this week despite surging

feedstock prices. China’s acrylonitrile imports in November 2017 grew 19% to

21,967 tons as compared to October 2017. Shanghai SECCO is planning to shut

its 520,000 tons per year ACN unit in September 2018 for maintenance. In US,

spot acrylonitrile prices were assessed unchanged in the week amid strong

domestic demand and little activity in the export market. In Europe,

acrylonitrile market was largely quiet as many players had only just returned

from holiday and some remained on extended breaks.

Asian acrylonitrile prices were assessed at US$1,839‐1,844 a ton CFR Far East

Asia, stable on the week while CFR South East was at US$1,779‐1,781 a ton. In

China, offers for offshore cargoes were stable on the week at US$1,800‐1,850

a ton while prices in India were pegged at US$1,800‐1,850 a ton. In Europe,

spot was at US$1,803‐1,807 a ton CIF Mediterranean. US acrylonitrile export

price were assessed at US$1,725‐1,735 a ton FOB USG, flat on the week.

5‐Jan % YoY

1,733

1,908

700

900

1,100

1,300

1,500

1,700

1,900

2,100


US$/ton

Acrylonitrile

China US Gulf Europe



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

794 998 896 974 945 974 16.1

794 988 889 964 917 964 17.0

829 1,054 964 1,054 1,000 1,054 16.0

729 979 814 889 844 889 4.1

807 1,044 961 1,044 1,010 1,044 16.1

772 1,030 910 1,030 948 1,030 16.6

763 994 874 994 913 994 13.8

1,486 2,280 2,087 2,178 1,045 1,029 22.5

1.76 2.36 1.79 1.89 1.81 1.89

1.62 2.53 1.62 1.73 1.62 1.73

0.09 1.83 0.10 0.11 0.11 0.10


CFRTaiwan

915

Chemical grade

Spot853

Chemical grade

951

China

910

USA

1.68

USA / US light

991

CFR

914

Term

FOB

Propylene

% YoY

SE Asia

Product Specs

882Korea

5‐JanMarketPrev 6 wksLast 12 mths

927

927

994

2.04SE Asia / Asia crude CFR

0.18

921

2,131

29‐Dec

FOB

827

Japan

CIF882

FD

2.00NW Europe / European Brent

CFR

873

NW Europe


839

Chemical grade NW Europe

Propylene prices in Asia rose to 31‐month high this week on planned turnarounds,

especially in Northeast Asia. Tianjin Bohai shut its propane dehydrogenation (PDH)

plant on 3 January 2018 for maintenance and is likely to resume operations after four

weeks. In US, spot propylene prices rose in the final days of 2017 and have remained

elevated in the first week of 2018, as the market awaited start‐up of a new production

unit and restart of an existing one. Dow conducting maintenance on US PDH unit which

has propylene capacity of 750,000 tons per year and shall resume operations from

February 2018. In Europe, propylene prices tracked the trend in Asian market this

week.

Asian propylene markers, CFR China rose US$34 at US$1,044‐1,046 a ton

while FOB Korea was up US$29 at US$974.00‐976.00 a ton. The SE CFR marker

was at US$889‐891 a ton, up US$45 on the week. In Europe, spot chemical

grade propylene prices were up Euro60.50 at Euro855.00‐859.00 a ton FD

NWE and Euro825.00‐829.00 a ton CIF NWE. In US, spot chemical‐grade

propylene pricing was at US cents 46.70‐47.20 per pound while PGP climbed

US cents 7 at US cents 55.75‐56.25 per pound FD USG for prompt‐month.

500

600

700

800

900

1,000

1,100


US$/ton

Propylene

Korea W Europe USA



Tel: +91 22 66291122 | Mobile: +91 77188 80355


562 562 475 475

1,119 1,290 945 1,090

920 920 777 777

2,162 2,235 1,827 1,888 ‐ ‐

5,951 5,029

6,034 5,099

4,554 3,848

4,046 3,419

1.00 1.00 ‐ ‐

1.00 1.03 ‐ ‐

2.35 2.43

1.93 1.73

6.47

VSF / Wood pulp

VSF

1.5D/38mm

VFY

Euro/ton

USA

VFY / Cotton pulp fi gr

300D Dull

VSF / Cotton pulp

Cotton pulp staple gr

120D Bright

VFY / Wood pulp

300D Bright

Cotton pulp fil gr

Second cut linters

US$/ton

120D Dull

Wood pulp staple gr

US$/ton


1.5D/38mm

Euro/ton

Asia

US$/ton

Viscose ChainDecember‐17

Euro/ton

Europe

Wood pulp staple gr




Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

2.14 2.30 2.26 2.30 2.28 2.30 0.0

2.21 2.38 2.34 2.38 2.36 2.38 0.0

2.11 2.27 2.23 2.27 2.25 2.27 0.0

2.17 2.34 2.30 2.34 2.32 2.34 0.0

2.11 2.27 2.23 2.27 2.25 2.27 0.0

2.15 2.53 2.15 2.22 2.19 2.22 ‐13.1

2.03 2.43 2.03 2.14 2.03 2.03 ‐4.3

2.35 4.76 3.91 4.64 3.93 3.91

2.02 2.84 2.42 2.82 2.42 2.42


1.5‐2.0D bright bleached

29‐Dec

2.51

India

Producer

s offer

5‐Jan

Producer

s offer

Viscose Staple Fibre

% YoY

2.25

2.28

2.18

1.5D/38mm China local / Imported wood pulp

India

Viscose staple fibre prices inched up in China while they were flat in India and

Pakistan during the week. In China, VSF offers were hiked this week as market

sentiment was healthy amid brisk sales. Supply may remain stable amid

unchanged industrial run rate. Feedstock cost will remain firm, imposing

heavy pressure on VSF producers. VSF market sentiment is likely to improve

further on strong demand as downstream buying interest is high for the

moment. As a result, prices will firm up in coming weeks on increasing

demand. In India, VSF offers were stable during the week. In Pakistan, VFY

market was steady on firm demand this week.

1.5D/38mm China local / Second cut linters

TermLast 12 mths

1.2D bright bleached

2.07

3.50

1.2D dullProducer

s offer

4.31

2.32

Pakistan

2.21

1.5D/38mm

Local

China

2.36

Prev 6 wksMarket

India

2.28

Producer

s offer

Producer

s offerIndia

Offers for medium‐end VSF in China was up at 14.30‐14.40 Yuan a kg (US$2.20‐

2.22 a kg, up US cents 3) and high‐end at 14.60‐14.80 Yuan a ton (US$2.25‐

2.28 a kg, up US cents 2). In spot, 1.5D VSF was traded up at 14.39‐14.74 Yuan

a kg (US$2.22‐2.27 a kg, rose US cents 3 as compared to last week) while 1.2D

were at 14.70‐14.80 Yuan a ton (US$2.25‐2.26 a kg, up US cents 2). In

Pakistan, 1.5D VSF prices were at PakRs225 a kg (US$2.03 a kg, flat on the

week) in Karachi market. In India, VSF prices were at INR144‐151 kg (US$2.25‐

2.31 a kg).

2.26

2.34

2.31

2.25

2.24

1.5‐2.0D spun shades

1.5D


India2.24

Local

2.64

Product Specs

1.5‐2.0D dull

1.90

2.00

2.10

2.20

2.30

2.40

2.50

2.60

2.70

2.80


US$/Kg

Viscose Staple Fibre

India Pak China



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

5.94 6.57 6.02 6.12 6.07 6.12 ‐8.1

5.22 5.75 5.29 5.38 5.33 5.38 ‐7.6

5.74 5.98 5.86 5.98 5.94 5.98 0.0

4.05 4.66 4.53 4.62 4.59 4.62 7.5

3.97 4.11 4.02 4.11 4.08 4.11 ‐4.5

4.564.53

Local

5.48

150D bright

China

6.25

China

Local

5‐Jan

China5.90

6.06

Product Specs

5.82

Last 12 mths

100D bright

In China, 120D bright offers were at 39.20 Yuan a kg (US$6.04 a kg, rose US

cents 5 due to strong local currency) while dull was at 39.75 Yuan a kg

(US$6.12 a kg, up US cents 4 on the week). 300D bright offers also were firm

at 30.00 Yuan a kg (US$4.62 a kg, up US cents 3 on the week) and dull at 26.65

Yuan a kg (US$4.10 a kg, up US cents 2 due to weak US$). In India, VFY prices

rolled over on the week with 120D bright VFY at INR364 a kg (US$5.74 a kg, up

US cents 5 on the week) and 450D at INR 236 a kg (US$3.72 a kg, up US cents

3 stable on the week).

300D bright

India

Viscose filament yarn prices were unchanged in the Asian markets of China,

India and Pakistan this week. In China, viscose filament yarn offers were stable

on the back of firm raw material cost during the week. VFY market was quiet

which lead to stability in prices this week. Some plants have been shut for

maintenance as planned at the end of 2017, and the overall sentiment is likely

to be firm ahead of the Spring Festival. With controllable inventory at the

producers, VFY offers will remain range‐bound in coming weeks. In India,

viscose filament yarn prices were steady during the week.

Local

150D bright Local5.32

Prev 6 wks

Viscose Filament Yarn

India

29‐DecMarket Term

300D dull4.04

% YoY

Local

4.05

5.60

5.80

6.00

6.20

6.40

6.60

6.80


US$/Kg

Viscose Filament Yarn

India China



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$/ Ton)

Min Max Min Max

541 803 559 570 566 570 ‐32.7

1,026 1,192 1,109 1,135 1,117 1,109 ‐8.1

830 945 920 920 920 920 0.0

840 840 840 840 840 840 0.0


563Second cut linters

663

840Wood pulp staple grade

1,120

Prev 6 wks

Wood and Cotton Pulp

Product Specs

CIF840

China

China

CIFCotton pulp staple grade

Imported wood pulp staple

grade

5‐Jan

In dissolving pulp market, offers were stable during the week with trading

prices for hardwood pulp and softwood pulp at US$920 a ton and US$980 a

ton respectively. Filament‐grade dissolving pulp prices moved sideways in

overseas market. Suppliers tended to maintain firm prices and therefore,

offers for softwood pulp were kept at US$1,100 a ton during the week.

% YoY

CIF

Term

China

CIF

Last 12 mths

896

Brazil

1,117

29‐Dec

920

Market

Cotton linter sentiment was weak, but buying interest improved recently. In

Xiajin of Shandong, mainstream offers for filament‐grade linter were at 4,200

Yuan a ton. In cotton pulp market, the sentiment was soft, and thus the

producers were not active to produce. Some of them mainly yielded products

to fulfill the previous orders.

780

840

900

960

1,020


US$/ton

Wood Pulp, staple grade

Indonesia Brazil



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US cents /lb)

Min Max Min Max

77.4 89.9 83.2 89.9 89.6 89.9 8.7

121.3 138.5 131.3 138.5 138.5 138.5 0.9

108.3 124.8 118.3 124.8 124.8 124.8 0.4

66.8 82.2 73.3 78.6 78.6 78.0 5.4

104.0 111.3 108.4 109.5 109.0 109.5 ‐0.8

69.8 87.2 77.8 87.2 79.6 87.2 22.5

75.8 90.0 77.2 85.4 84.4 85.4 2.7

73.2 86.0 74.7 82.3 82.0 82.3 1.0

79.1 91.9 81.8 89.2 88.2 89.2 5.2


Cotton

107

76

80

135

123.2

86

Term

122

79Spot

India

81

77

Shanker 6

India84

USA

Grade 3, staple 1‐1/32"

Spot

Futures

Bunny/Brahma

China109

Pakistan Spot

China Cotton Index

American PIMA ‐Col 3, leaf 3, st

46

India

% YoY

73USA

American PIMA ‐Col 3, leaf 3, st

44

87Cotlook 'A' Index

Market

The March US cotton Futures lost 61 points on the week to close at US cents

78.01 per pound. The Cotlook index edged up US cent 0.30 on the week to

close at US cents 89.90 per pound. The China Cotton Index declined 34 Yuan

to 15,665 Yuan a ton. In Pakistan, the KCA spot rate surged PakRs700 during

the week at PakRs7,945 per maund ex‐Karachi. In India, cotton prices were up

INR100‐600 for some specs during the week while other specs fell INR100‐500

with benchmark Shankar‐6 trading at INR40,900 a candy.

136.5

USA

29‐DecPrev 6 wks

87

Spot82

84Far East Asia

Product Specs

Spot

Spot

New York Futures

CFR

Spot

5‐JanLast 12 mths

MCU‐5

US cotton futures declined this week after recent gains on world stockpiles of

cotton that was projected for the year. India remains the world’s largest

producer, with 2017‐18 production expected to grow 8.7% to 6.2 million tons.

The second largest producer, China, has production currently projected at 5.2

million tons, representing a 7.1% increase. Pakistan’s production projections

for 2017‐18 show an 11.5% increase to 1.9 million tons, while production in

Turkey is estimated to grow 18 percent to 829,000 tons. Other major cotton

producing countries are expected to have positive growth attributed to

increased area and yields.

50

60

70

80

90

100

110

120


cts/lb

Cotton

Cotlook 'A' USAIndia ChinaPak



Tel: +91 22 66291122 | Mobile: +91 77188 80355

(US$ / Kg)

Min Max Min Max

10.66 13.50 12.71 13.50 ‐ ‐ 0.0

11.23 14.12 13.32 14.12 ‐ ‐ 0.0

10.30 13.11 12.33 13.11 ‐ ‐ 0.0

11.00 13.92 13.08 13.92 ‐ ‐ 0.0

14.15 17.79 17.03 17.70 ‐ ‐ 0.0

9.98 12.68 11.75 12.52 ‐ ‐ 0.0

9.77 12.38 11.47 12.15 ‐ ‐ 0.0

6.92 9.13 7.97 8.63 ‐ ‐ 0.0

8.53 11.49 10.53 11.49 ‐ ‐ 0.0


12.60

16.25

SpotNorth Australia

Spot

29‐Dec

8.28Spot

AWEX EMI

Prev 6 wks

Spot

AWEX EMI

12.99

12.10

12.42

10.98

% YoY

Wool

Term

South Australia

26 Micron

Spot17.37

11.81South Australia

West Australia

AWEX EMI

18‐Microns

12.04

South Australia

5‐JanLast 12 mths

23 Microns

8.07

13.61

AWEX EMI

Spot

Spot11.81

Australia

11.42

Spot

13.41

South AustraliaMerino Carded9.23

Product Specs Market

South Australia

22 Microns Spot11.22

South Australia

11.03

7.00

8.00

9.00

10.00

11.00

12.00

13.00

14.00

O N D J F M A M J J A S O N D JUS$/Kg

Wool, Australian wool mkt

AWEX EMI Merino Carded



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

2.67 2.77 2.67 2.76 2.67 2.67 4.7

2.73 2.73 2.73 2.73 2.73 2.73 0.0

2.71 2.95 2.87 2.93 2.91 2.93 1.6

2.92 3.29 3.24 3.27 3.24 3.27 5.5

2.79 2.79 2.79 2.79 2.79 2.79 0.0

2.55 2.55 2.55 2.55 2.55 2.55 0.0

2.98 3.12 2.98 3.10 2.99 2.98 1.4

2.92 3.41 2.95 3.10 3.06 3.10 4.7

2.63 2.63 2.63 2.63 2.63 2.63 0.0

2.98 3.32 3.13 3.24 3.24 3.13 11.3

3.51 3.73 3.64 3.71 3.69 3.71 ‐0.4

3.29 3.29 3.29 3.29 3.29 3.29 0.0

3.61 4.26 3.73 3.87 3.73 3.73 2.7


Ex Mill Prices

20s combed Local

29‐Dec

Local

5‐Jan

In China, cotton yarn prices were range‐bound, with 21s combed at 22.00‐

22.50 Yuan a kg (US$3.39‐3.47 a kg, up US cents 3 on strong local currency) in

Shengze and 32s carded down at 22.90‐23.30 Yuan a kg (US$3.53‐3.59 a kg).

In Pakistan, cotton 20s carded prices rose PakRs2.5 at PakRs137.5 per pound

(US$2.76 a kg, up US cents 6) while 30s carded was at PakRs155.4 per pound

(US$3.12 a kg). 40s combed surged PakRs6.2 at PakRs192.5 per pound

(US$3.86 a kg, up US cents 13). In India, prices of 30s combed cotton yarn for

knitting rose INR2 at INR197 a kg (US$3.10 a kg, up US cents 4) in Ludhiana.

% YoY

Cotton yarn prices were stable to weak in China while they climbed in India

and Pakistan during the week. In China, cotton yarn prices moved down

slightly in tandem with recent declines in cotton fibre prices. However, cotton

yarn prices reached higher levels on the import market. Domestic spinners in

China must take advantage of a return to price competitiveness. Seasonal

demand is relatively low, whereas sales would not rebound before the end of

spring holidays, by late February. In India, cotton yarn prices rose sharply

during the week over a new increase of cotton prices until the end of the year.

In Pakistan, cotton yarn market was pressured by rising cotton fibre cost and

trended up for the week

21s2.90

Local

Pakistan2.71

TermLast 12 mths

Market

2.7321/1 carded cone

Product Specs

3.17

40s3.67

China

Local

China

3.14

India

2.73

3.78

24s combed

2.73

Local

Pakistan

Local

2.55

Local

30s combed

Prev 6 wks

100% Cotton Spun Yarn

Local

3.29

21s/2 carded

3.29

India

3.19

30s carded India

Local3.81

3.17

3.10Pakistan

2.63 2.63

40s cone

3.0330/1 carded cone

32s cone

3.61

Pakistan

24s carded India

Local

China

3.00

3.25

2.84

India2.79

Local

Local2.55

2.79

India

Local

40s combed

1.50

2.00

2.50

3.00

3.50

4.00


US$/Kg

100% Cotton yarn

Cotton yarn 32s CCIndex(328)



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

1.81 1.81 1.81 1.81 1.81 1.81 11.8

2.23 2.37 2.26 2.34 2.30 2.31 3.6

1.49 1.91 1.86 1.89 1.88 1.89 6.0

1.89 1.89 1.89 1.89 1.89 1.89 0.0

1.95 2.36 2.01 2.05 2.02 2.01 4.1

2.49 2.65 2.49 2.57 2.52 2.53 0.0

1.65 2.08 2.02 2.06 2.04 2.06 6.3

2.26 2.26 2.26 2.26 2.26 2.26 11.8

1.80 2.23 2.17 2.22 2.19 2.22 5.9

1.90 2.32 2.25 2.29 2.27 2.28 6.0

2.49 2.65 2.49 2.57 2.52 2.53 0.0

2.02 2.37 2.33 2.37 2.36 2.37 4.1


1.89

Term

100% Polyester Spun Yarn

% YoY

2.31

5‐Jan29‐Dec

China

Prev 6 wks

20s

1.88

2.33

Product Specs

30s India Local2.06 2.03

India Local1.89

Local2.04

Pakistan Local

Local

32s

24s

1.70Local

2.53

Last 12 mths

2.26

30s carded Pakistan

Pakistan

21s

20s carded Local

India1.81

Market

Local1.81

2.18

China

2.26

50s

China

Local

40s India

Local2.00

2.27

China

2.53

2.19

Local2.59

1.86

2.34

2.5960s combed

2.09

60s Local

China

45s

In China, offers for 32s polyester yarn in Shengze rose to 13.40‐13.50 Yuan a

kg (US$2.06‐2.07 a kg, up US cents 3 as compared to last week). In Pakistan,

polyester yarn prices in Faisalabad were stable with 20s at PakRs115 per

pound (US$2.31 a kg, up US cent 1) and 30s was at PakRs126 per pound

(US$2.53 a kg, up US cent 1 on the week). In India, polyester yarn 30 knit yarn

prices were down INR1 at INR128 a kg (US$2.01 a kg, down US cent 1 on the

week) in Ludhiana market.

Polyester spun yarn prices inched up in China, fell in India while they were

firm in India during the week. In China, spun polyester yarn offers reacted to

the surging polyester staple fibre prices during the week. Market saw

moderate demand as sales were modest. In India, spun polyester yarn prices

resumed with downward spiral and fell again this week. In Pakistan, polyester

yarn prices were unchanged during the week supported by stable polyester

staple fibre cost and growing demand.

0.60

1.00

1.40

1.80

2.20


US$/Kg

100% Polyester yarn, China local

Poly yarn 32s PSF 1.4D/38mm



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

2.54 2.85 2.59 2.63 2.62 2.63 ‐9.5

2.66 3.02 2.67 2.74 2.72 2.74 ‐10.6

2.60 2.87 2.67 2.71 2.70 2.71 3.8

2.81 3.18 2.82 2.89 2.87 2.89 ‐11.1

2.95 3.31 2.98 3.05 3.01 3.05 ‐10.0

2.84 3.63 2.84 2.99 2.84 2.87 ‐16.6

3.25 3.60 3.30 3.36 3.34 3.36 ‐7.2


China

40s Local

Local

Product Specs

10s China

Prev 6 wksLast 12 mths

100% Viscose Spun Yarn

Local

% YoYTerm

2.85

2.7020s

5‐Jan

30s

2.612.69

Market

Local

Local

2.82

29‐Dec

2.97

40s

China

2.74 2.69

3.01

China50s

3.12

Pakistan

30s

Local3.27

India

China

Local

2.91

3.42 3.33

Viscose spun yarn prices were jumped in China and Pakistan while they rolled

over in India during the week. In China, spun viscose yarn market inched up in

line with rising viscose staple fibre cost during the week. Buying interest was

improving while liquidity was modest during the week. Some plants have been

shut for maintenance as planned at the end of 2017, and the overall

sentiment is expected to be stable ahead of the Spring Festival. In India,

viscose spun yarn prices were stable during the week. In Pakistan, viscose

spun yarn prices rose this week on improving market sentiment.

In China, offers for ring‐spun 30s weaving yarn in Xiaoshan were at 18.75‐

18.85 Yuan a kg (US$2.89‐2.90 a kg, up US cents 2 on stronger local currency)

while compact siro‐spun 40s yarns in Jiangsu rose to 19.80‐19.90 Yuan a kg

(US$3.05‐3.06 a kg, up US cents 4 as compared to last week). In Pakistan, 35s

viscose yarn prices were up PakRe1 at PakRs138 per pound (US$2.79 a kg, up

US cents 3) and 40s rose PakRe1 at PakRs143 a pound (US$2.87 a kg, up US

cents 3 on the week) in Karachi market. In India, 30s viscose spun knitting yarn

price in Ludhiana was at INR172 a kg (US$2.71 a kg, up US cent 1).

1.60

2.00

2.40

2.80

3.20

3.60


US$/Kg

100% Viscose yarn, China local

Viscose yarn 30s VSF 1.5D/38mm



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Kg)

Min Max Min Max

1.92 2.08 2.04 2.08 2.07 2.08 2.3

2.18 2.18 2.18 2.18 2.18 2.18 0.0

2.08 2.26 2.22 2.26 2.25 2.26 2.8

2.33 2.84 2.62 2.69 2.68 2.69 15.5

2.60 2.60 2.60 2.60 2.60 2.60 0.0

2.23 2.46 2.42 2.46 2.45 2.46 3.9

2.60 2.60 2.60 2.60 2.60 2.60 0.0

2.67 2.93 2.88 2.93 2.91 2.93 3.3

2.86 3.13 3.07 3.13 3.11 3.13 3.0


16s 65/35

% YoY

China

30s 52/48 India

2.18

45s 65/35

32s 65/35

40s 65/35 India

China

Product Specs

2.18

China

2.902.77

1.99

Prev 6 wks

Local

Local

Polyester / Cotton Blended Yarn

5‐Jan

Local2.60

2.15

Local

Local

2.95

Local

3.09Local

Local

2.66

Blended yarn prices were steady in China and India while they climbed in

Pakistan during the week. In China, offers for PC yarn and PV yarn prices were

firm during the week. However, PC yarn prices rose in US$ terms as the local

currency was strong while US$ was weak during the week. In India, PV yarn

offers were stable during the week while PC yarn prices also remained range‐

bound despite surging polyester and cotton fibre costs. In Pakistan, poly‐

cotton prices inched up supported by strong prices in raw material market

while poly‐viscose prices also rose during the week.

In China, PC (65/35) 32s yarn prices were at 17.50 Yuan a kg (US$2.69 a kg) in

Zhejiang, while 45s PC combed yarn prices were at 23.75 Yuan a kg (US$3.66).

PV 32s were at 16.85 Yuan a kg (US$2.59 a kg). In Pakistan, PC yarn prices

were up PakRe3 with 20s (52/48) carded at PakRs121 per pound (US$2.43 a

kg) on the Faisalabad market and 30s up PakRs2 at PakRs137 per pound

(US$2.75 a kg). PV 30s yarn prices were at PakRs127 per pound (US$2.55 a

kg). In India, 30s (65/35) PV warp yarns prices were at INR155 a kg (US$2.44 a

kg) while PC 30s (52/48) prices were at INR171 a kg (US$2.69 a kg) Ludhiana.

Last 12 mths

2.33

2.66

2.60

China21s 65/35

2.44

Local

Market

2.60 2.60

2.24

29‐Dec

China60s 65/35

2.05

India

Term

20s 52/48 India

24s 52/48

0.50

1.00

1.50

2.00

2.50

3.00

3.50


US$/Kg

PC yarn (65/35), China local

PC yarn 45s PSF 1.4D/38mm



Tel: +91 22 66291122 | Mobile: +91 77188 80355

(US$ / Kg)

Min Max Min Max

2.19 2.48 2.25 2.36 2.25 2.25 8.7

2.17 2.33 2.17 2.28 2.17 2.17 0.9

2.37 2.59 2.51 2.56 2.53 2.56 0.0

2.17 2.29 2.17 2.28 2.17 2.17 0.0

1.99 2.11 1.99 2.09 1.99 1.99 0.0

2.42 2.62 2.53 2.57 2.55 2.57 0.0

2.98 3.52 3.34 3.52 3.34 3.34 12.8

2.67 2.90 2.81 2.86 2.83 2.86 0.0


% YoY29‐Dec

2.21

Market

2.29

Term

Local

3.41

2.54

2.09

Local

5‐Jan

Pakistan

Pakistan

40/1

Prev 6 wks

20/12.50

Pakistan

Polyester / Viscose Blended Yarn (65/35)

Local

2.80India

Local2.53

30/1

20/1

3.30

Local

2.52

India

30/1

Last 12 mths

Pakistan

2.83

2.2124/1 Bright

Product Specs

2.29

2.28

Local

LocalPakistan2.03

India

40/1

2.28Local18/1



Tel: +91 22 66291122 | Mobile: +91 77188 80355

(US$ / Kg)

Min Max Min Max

5.22 6.68 6.16 6.66 6.43 6.16 17.5

5.08 6.38 6.12 6.36 6.12 6.16 20.9

4.21 5.62 5.36 5.60 5.36 5.39 27.7

4.64 5.92 5.62 5.75 5.66 5.70 22.3

4.06 5.31 5.05 5.30 5.05 5.08 24.7

3.92 5.31 4.99 5.30 5.05 5.08 29.3


Spandex Yarn

5.05

4.79Local

20D Bright Dry Spun

China

6.09

Last 12 mths

China

70D Bright

Local

5.17

140D Bright

5.26LocalChina

Prev 6 wks

6.41

Product Specs

6.24

Local

40D Bright Warp Knitting

China5.48

China

Term

40D Bright

5‐Jan % YoY29‐Dec

Local5.81

5.69

China30D Bright

Local

4.76 5.12

Market



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Ton)

Min Max Min Max

398 615 580 615 615 604 18.3

321 455 439 455 439 455 12.7

312 446 431 446 431 446 12.3

331 475 459 475 459 475 16.4

1.14 1.34 1.28 1.34 1.28 1.34

0.70 1.00 0.90 0.95 0.94 0.95

0.69 0.99 0.88 0.93 0.92 0.93

0.75 1.04 0.98 1.04 1.01 1.04


5‐Jan29‐Dec

Singapore cargo / Asia crude CFR

0.88

497

1.31

374Cargoes

442

0.93

Last 12 mths

Rotterdam FOB / European Brent

Singapore462

Rotterdam

Product Specs

0.91Med. cargoes / European Brent

0.94

Japan CFR / Asia crude CFR

CFR

0.90

Value Chain intensity

1.02

European naphtha prices fell tracking the Asian trend during the week despite

strong Brent. Naphtha prices in Europe were at US$595‐600 a ton, down US$7

a ton as compared to previous week. Taiwan’s Formosa Petrochemical Corp

(FPCC) was contemplating its naphtha requirements for second‐half February

delivery and may issue an import tender soon. Japan’s production of naphtha

in November 2017 increased by 1.2% year on year to 1.66m kilolitres (kl).

China’s naphtha imports were at 629,136 tons in November 2017, up 35% as

compared to the previous month.

1.25

Asian naphtha market declined this week despite high crude oil values. Prices

weakened on the back of higher arbitrage volumes expected into Asia but

spot demand from China and firm demand from Japanese and South Korean

petrochemical makers kept losses in check. Naphtha prices rose in the past

month supported by robust buying activity by downstream petrochemical

producers. Meanwhile, less availability of cheaper alternative feedstock

liquefied petroleum gas (LPG) may mean a greater dependence on naphtha in

the near term if not already. For the week, naphtha prices fell US$10.87 at

US$604.38 a ton CFR Japan.

Prev 6 wks

Barges

FOB

433Cargoes

356

Japan

363

Naphtha

% YoYTerm

595

Mediterranean

Market

30

40

50

60

70

80

90


US$/ton

Naphtha

US Crude Oil Future

Naphtha Japan CFR



Tel: +91 22 66291122 | Mobile: +91 77188 80355

►

►

(US$ / Barrel)

Min Max Min Max

45.70 67.53 63.40 67.53 66.87 67.53 19.4

43.09 61.49 57.19 61.49 60.42 61.49 15.3

43.42 66.13 60.73 66.13 62.16 66.13 24.6

43.20 61.63 57.14 61.63 59.64 61.63 15.4

45.60 64.33 60.38 64.33 63.69 64.33 17.7


51.17

OPEC

CFR

Spot

% YoY

USA

Last 12 mths

58.58Futures

Term

US Light

Prev 6 wks

Middle EastWt.

average

Far East

IPE

62.19

62.08

Crude Oil

Asia

Futures

5‐Jan

NYMEX Future51.18

52.74

58.83

USA

Europe brent

Market

54.10

Spot

64.9755.08

Product Specs 29‐Dec

The US crude futures settled to its strongest price since May 2015 at US$61.44

a barrel, up US$1.02 from last week while European Brent crude futures

settled at US$67.62 a barrel, up US$1.00 on the week and also the highest

price since May 2015. US crude futures rose 1.7 per cent on the week while

Brent inched up 1.5 per cent as compared to last week. Oil prices received

general support from production cuts led by OPEC and Russia, which started in

January last year and are set to last through 2018, as well as from strong

economic growth and financial markets.

Crude oil prices edged down on Friday after reaching to its highest since May

2015 on Thursday amid concern about supply risks due to unrest in Iran and

decrease in US inventories as refining activity hit a 12‐year high. Oil stocks in

US declined more than expected, continuing a steady drawdown of supplies in

the world’s largest oil consumer, though stocks of distillates and gasoline rose

on heavy refining activity driven in part by year‐end adjustments. Anti‐

government protests since last week in Iran, OPEC’s third‐largest producer,

added a geopolitical risk premium to oil prices, though the country’s

production and exports have not been affected.

35

40

45

50

55

60

65

70


US$/Barrel

Crude oil

Europe Brent US Crude Oil Future



Tel: +91 22 66291122 | Mobile: +91 77188 80355

weekly pricewatch report - textile association of india · dty 75/24/0 polyester filament yarn...

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