Polyester staple fibre prices stabilized in China entering April, as material costs no more decline on the international market. The fall of the Yuan was also boosting exports and depressing offers on the international market, in contrast. In Jiangsu and Zhejiang producers offers dropped a bit on weekend while discussions for firm deals were just around offers and trading prices. In Fujian, producers kept offers unchanged amid modest sales. In Shandong and Hebei, producers adjusted offers as liquidity turned insipid. In March, offers for 1.4D direct-melt PSF were down at 6.98-7.25 Yuan a kg (US$1.07-1.11 a kg, down US cents 3) in Jiangsu and Zhejiang while the same in Fujian and Shandong were down at US$1.11-1.15 a kg.
In Taiwan, offer for 1.4D were lifted US cents 8 to US$1.05 a kg FOB.
In Pakistan, producers’ offer for polyester fibre were lifted three times during March. 1.4D PSF was up at PakRs.218-220 a kg (US$1.40-1.41 a kg, up US cents 14 also due to weak currency).
In India, producers hiked twice during the March. Offers for March averaged up 11% at INR103 a kg (US$1.42 a kg) for 1.2D and at INR102.25 a kg (US$1.41 a kg) for 1.4D.
Nylon-6 staple fiber offers were raised 12% in China in March as upstream caprolactum as well as polyamide or nylon chip cost cost moved higher. High-end wool-like and low-end for core-spinning type nylon staple maker continued to face poor margins as cost rose. 1.5D offers averaged 15.93-16.55 Yuan a kg (US$2.45-2.54 a kg, up US cents 25 on the month).
Acrylic staple fibre prices stayed firm and higher in March across Asia markets. Offers for Taiwan origin 1.5D acrylic fibre were up 30% month on month to average US$2.95-3.10 a kg FOB Taiwan.
In China, reference prices of cotton-type staple fiber, tow and top were up 16% during the month. Althoguh there were limited orders from spun yarn producers, demand was moderate. More than half of all acrylic fibre capacities have been offline after acrylonitrile prices went up at a higher speed in March. The industrial run rate reached a low of 55% this week. Prices for medium-length and cotton-type acrylic fibre 1.5D and 3D tow averaged 19.00-20.00 Yuan a kg (US$2.92-3.07 a kg).
In Pakistan, overseas offers for acrylic fibrejumped 23% in Karachi market during March. 1.2D ASF offers averaged PakRs.460 a kg (US$2.95 a kg).
In India, producers raised their offer by about 20% as acrylonitrile cost have risen 130% in March year on year while acrylic fibre prices managed to rise just 55% over the year. Offers in March were up by INR38 or US cents 53 at INR226-228 a kg (US$3.11-3.14 a kg).
Viscose staple fibre prices were raised in China and Pakistan during, as demand from spinners was firm, while they were rolled over in India. In China, viscose fibre market sentiment was thin in late March and producers still had some previous orders to fulfill, so inventory pressure was moderate. Thus, they maintained offers firm after some adjustments in the last week. However, traders lowered indications due to slow liquidity amid limited enquiries. Meanwhile, transactions were still underperforming. In spot, average prices rose US cents 17 with 1.5D at 15.57 Yuan a kg (US$2.39 a kg) and 1.2D to 15.77 Yuan a kg (US$2.42 a kg).
In Taiwan, offers for 1.5D were raised US cents 7 to US$1.95 a kg FOB.
In Pakistan, offers from overseas suppliers were raised in line with in other Asian markets. Offers for 1.5D VSF in Karachi by PakRs90or US cents 61 at PakRs405-415 a kg (US$2.59-2.66 a kg).
In India, producers’ offers for 1.2-1.5D remained unchanged at INR195-197 a kg (US$2.68-2.71 a kg).
Overall, prices will drop further, as producers are expected to reduce offers as well, following sustained low-price selling in the market.