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Prices decline throughout china's polyester value chain

Prices decline throughout china's polyester value chain Source: www.chinatexnet.com
Date: 23-01-2013
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Quotations for purified terephthalic acid (PTA) in eastern China declined moderately last week, despite the price of paraxlyene remaining high. The price softness was attributable to a sluggish demand from polyester producers, which is creating some upward pressure on stocks of PTA, with only around 70% of output currently being sold on average, according to local estimates.

Mono ethylene glycol (MEG) spot rates also presented an easy appearance, in face of similar market dynamics. Polyester firms are thought to have enough feedstock inventories for short-term operations ahead of the Spring Festival.

Without the support of firmer feedstock prices, the upward trend of last couple of weeks in polyester staple fiber quotations was reversed. Offers of 1.4 denier, 38mm, slid to 11,600 Yuan per ton (just under US$1.87 per kilo) at the end of last week, versus 11,750 Yuan per ton (US$1.90 per kilo) a week earlier.

Viscose staple fiber prices provided one exception to the generally weaker market tone. However, owing to the sluggishness of the fiber market as a whole, and the approaching long holiday, local traders predicted the current strength of the market could prove short-lived. A slowdown in demand ahead of the forthcoming holidays and a tendency for inventories at manufactures to accumulate influenced an easing in offers of many types of polyester filament yarn. Some filament sellers, while not cutting list prices, were more flexible in negotiations against serious enquiries.

Buying interest from fabric producers is unlikely to recover in the coming couple of weeks, with many more firms scheduled to close their plants for the holidays. Some polyester filament yarn manufacturers may reduce prices further if the business outlook for the coming year does not pick up, local traders suggested.
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