|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PC |
1135.491 |
USD/Ton |
1.83% |
4/16/2015 |
|
PSF |
1241.688 |
USD/Ton |
2.29% |
4/16/2015 |
|
VSF |
1957.2924 |
USD/Ton |
0.93% |
4/16/2015 |
|
ASF |
2450.7 |
USD/Ton |
0% |
4/16/2015 |
|
Polyester POY |
1323.378 |
USD/Ton |
2.53% |
4/16/2015 |
|
Nylon FDY |
3071.544 |
USD/Ton |
0.53% |
4/16/2015 |
|
40D Spandex |
6616.89 |
USD/Ton |
0% |
4/16/2015 |
|
Nylon DTY |
1511.265 |
USD/Ton |
0.54% |
4/16/2015 |
|
Viscose Long Filament |
3381.966 |
USD/Ton |
0.98% |
4/16/2015 |
|
Polyester DTY |
5849.004 |
USD/Ton |
0.14% |
4/16/2015 |
|
Nylon POY |
1592.955 |
USD/Ton |
1.56% |
4/16/2015 |
|
Acrylic Top 3D |
2859.15 |
USD/Ton |
0% |
4/16/2015 |
|
Polyester FDY |
2597.742 |
USD/Ton |
0% |
4/16/2015 |
|
30S Spun Rayon Yarn |
2630.418 |
USD/Ton |
0.31% |
4/16/2015 |
|
32S Polyester Yarn |
1927.884 |
USD/Ton |
1.72% |
4/16/2015 |
|
45S T/C Yarn |
2891.826 |
USD/Ton |
0% |
4/16/2015 |
|
45S Polyester Yarn |
2025.912 |
USD/Ton |
0% |
4/16/2015 |
|
T/C Yarn 65/35 32S |
2483.376 |
USD/Ton |
0% |
4/16/2015 |
|
40S Rayon Yarn |
2793.798 |
USD/Ton |
0.59% |
4/16/2015 |
|
T/R Yarn 65/35 32S |
2614.08 |
USD/Ton |
0% |
4/16/2015 |
|
10S Denim Fabric |
1.14366 |
USD/Meter |
0% |
4/16/2015 |
|
32S Twill Fabric |
0.9998856 |
USD/Meter |
0% |
4/16/2015 |
|
40S Combed Poplin |
1.356054 |
USD/Meter |
0% |
4/16/2015 |
|
30S Rayon Fabric |
0.7711536 |
USD/Meter |
0.43% |
4/16/2015 |
|
45S T/C Fabric |
0.7907592 |
USD/Meter |
0% |
4/16/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16338 USD dtd. 17/04/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
Mukesh Ambani-led Reliance Industries Limited will be soon come up with two new petrochemical plants. These plants will be manufacturing polyester plastic that is used in packaging, plastic bottles, clothing and foods and beverages. At present, India produces 5.4 million tons polyester every year. This makes the country, the second largest producer of polyester. Every year, the Polyester market is showing growth rate of 8-10%. Indian market is currently facing shortfall of PTA over 1.5 million tons every year. The current capacity will help to overcome this deficit to an extent.
RIL informed that it has initiated a plant at Dahej in Gujarat with resin capacity of 650 KTA PET (Polyethylene Terephthalate) and 1,150 kilo tons per year Purified Terephthalic Acid (PTA). The PTA plant is set up using Invista technology. After this plant is initiated,Reliance Industries’ total PTA capacity will be as high as 3.2 million tons per year. Besides, the company’s global capacity share will also reach at 4 percent.
Reliance Industries’ refinery at Jamnagar is the source and controller of Paraxylene. Paraxylene is the feedstock for PTA plant. The same complex also houses 640 KTA PET. Reliance Industries through this integrated process will thus be able to reduce its operating costs and also seize the full chain margin. The company is setting up one more PTA plant. The new plant will have the same capacity and will be located near it. The construction for the same has already begun. This will help the company to feature among the top five PTA manufacturers worldwide.
PET plant has two lines that together give manufacturing capacity of 650 KTA. Invista Technology is used in the plant for Continuous Polymerization and Buhler AG Technology is used for Solid State Polymerization. The plant has one of the largest bottle grade PET resin capacity, in the world from a single place. This makes Reliance Industries to rank first as PET resin producer with over 1.15 million tons of PET resin capacity. The two feedstocks for the new PET plant, PTA and Mono Ethylene Glycol (MEG),are available within the complex. Because of raw materials being produced in-house, the company will be benefitted with low costs and higher product quality. The polyester plastic made from PTA is capable of being used in the production of many things including drinks bottles, clothes and home furnishings. Similar to clothing fabric, PET is a kind of polyester. The PTA plant will also help the country to attain self-sufficiency. It is a step to fulfill Prime Minister Narendra Modi’s dream of ‘Make in India.’
SOURCE: Yarns&Fibers
US based home textile company Nextt which is as a key supplier to big retailers such as Walmart, Target, Kohl's, Dillard's etc. may soon introduce its popular brands to Indian market, according to its CEO Arun Agarwal who has been in India to explore what he says "Make in India" possibilities. The $500-million company that manufactures home textiles, garments, apparel fabrics and polyester yarns, sells popular brands such as Trina Turk, Kathy Ireland, Jessica McClintock, Raymond, Waites etc. "We already have textile leadership in US. As we have a tie-up with Alok Industries in India, we have decided to be a part of the Indian government's Make in India initiaitve. By the end of this year, we should be able to introduce our popular brands to the Indian market," Agarwal told ET. Currently, 80% of Nextt's products are being sourced from India, but those are sold mostly in US and other western markets.
Agarwal who went to study in Harvard University in US in 1990s before turning into an entrepreneur, has been associated with home textiles sector for the last 15 years. "Today Indian consumers can differentiate between a quality product and an ordinary product. The purchasing power has also increased manifold. This is the time, we should introduce our brands to the Indian consumers," he said. On India-China textile comparison, Agarwal said India has already taken a leadership position in high-value textile though China is way ahead in apparel segment.
SOURCE: The Economic Times
The implementation of the landmark goods and services tax (GST) regime, proposed from April 1, 2016, would increase India's gross domestic product (GDP) by one to two per cent, Finance Minister Arun Jaitley said on Thursday. "This (GST) has the potential to push India's GDP by one to two per cent," Jaitley said at the Peterson Institute for International Economics in Washington, adding that the landmark constitutional amendment would immediately convert India into a one big uniform market, which will benefit all stakeholders.
SOURCE: The Business Standard
The traffic handled at 12 major ports in the country has seen a modest increase during FY15, with public sector ports clocking 581.3 million tonne, a rise of 4.65% on y-o-y basis, provisional data sourced from the Indian Ports Association shows. A weak fourth quarter both for container and bulk cargo traffic seems to have impacted the annual performance of the ports. Private port operators are yet to announce earnings for FY 2014-2015. According to Barclays’ April 8 report, container traffic at government ports grew at a mere 2.1% year-on-year in the three months of January-March 2015, against 8.9% and 11.9% growth witnessed in the second and third quarters of the financial year, respectively. Container traffic was impacted due to a fall in exim and domestic traffic. Government ports’ bulk traffic also grew at a slower pace by 3.5% y-o-y in the fourth quarter, against 6.8% growth witnessed in the preceding quarter. “We believe this correction (in container traffic) may be due to the unwinding of higher imports following the formation of the new government during the second-third quarter of FY15,” Barclays observed in the report.
During FY15, Gujarat based-Kandla Port continued its dominance in handling the highest volume of traffic, which stood at 92.49 million tonne (6.31% y-o-y increase), followed by Odisha-based Paradip Port with 71 million tonne (4.42% y-o-y increase), IPA data shows. In comparison, public sector ports in Maharashtra — Jawaharlal Nehru Port Trust (JNPT) and Mumbai Port Trust (MbPT) showed tepid growth. JNPT handled 63.80 million tonne of traffic recording a mere 2.36% y-o-y increase, while MbPT handled 61.66 million tonne, with 4.18% y-o-y increase. According to Axis Capital’s April 9 report, container volumes in FY15 across major ports grew 6.7% y-o-y to 7.96 million TEU. The growth was driven by 7.3% increase in JNPT volumes and 5.7% growth in Chennai volumes. However, in March, JNPT container volumes had taken a dip of about 3% on y-o-y basis, which dragged the overall container volume growth across major ports to 2.3% y-o-y in a single month. “While near-term volume growth may be muted, medium-term outlook remains intact, especially due to macro recovery and capacity addition at JNPT over FY15-17,” the report observed.
A senior JNPT official told FE that capacity constraints as well as lower volumes of liquid cargo handled at its liquid cargo terminal have impacted overall growth in traffic during the year. According to him, JNPT handled around 1.4 million tonne of crude oil in FY15, fall of a sharp 36% against last year, as ONGC is shipping most of its crude oil production from Bombay High directly to refineries, rather than route it through JNPT, which has led to a fall in liquid cargo handling.
SOURCE: The Financial Express
The India-Bangladesh trade agreement will be reviewed this year, Zokey Ahad, Deputy High Commissioner of Bangladesh, said here on Thursday. The trade agreement, which was signed in 1972, will be renewed with “much more broad opportunities”. According to him, bilateral trade between the two nations stood at $2 billion last fiscal, and was tilted heavily in favour of India. Addressing an interactive session organised by the Bengal National Chamber of Commerce and Industry, the Deputy High Commissioner said the focus will be to minimise trade imbalance.
SOURCE: The Hindu Business Line
India and Belarus today agreed to enhance their bilateral ties especially in the field of trade and economy. India also discussed regional and international issues of mutual interests with Belarus, a landlocked country in Eastern Europe bordering Russia during the meeting of Belarus Foreign Minister Vladimir Makei with External Affairs Minister Sushma Swaraj, an official statement said.
Belarus Foreign Minister Vladimir Makei is on a three-day visit to India on the invitation of Swaraj. Makei held delegation level talks with EAM and also called on President Pranab Mukherjee. The two Ministers discussed bilateral issues including high level political engagement, trade and investment, science and technology, defence, energy and culture, the statement said. India and Belarus enjoy friendly and mutually beneficial relations in various fields. "The two ministers agreed to work together to further enhance these relations. They also discussed regional and international issues of mutual interest," it said.
Swaraj thanked the visiting Foreign Minister for his government's support at the UN to adopt June 21 as the International Yoga Day and for the celebration of the first International Yoga Day this year in Minsk. The Belarus Foreign Minister, who is accompanied by a 3-member business delegation representing prominent Belarus state enterprises dealing in potash, fertilisers, dumper trucks and tractors, also met representatives of Indian business and industry.
SOURCE: The Economic Times
The Andhra Pradesh, Chief Minister N. Chandrababu Naidu on the third day of his tour to China on Tueday during a roundtable on Business Opportunities announced that the State would setting up of a dedicated China desk for investments and ease of doing business, behinds signing six Government-to-Business MoUs. Inviting the Chinese to make Amaravathi their second home after Beijing, he observed that this was the right time to do business in India.
Following the round-table, five B2B MoUs and six G2B MoUs were signed. The B2B MoUs included signing of three MoUs by manufacturer and supplier of apparels, Brandix with China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT) and others. The G2B MoUs were with China Association of Small and Medium Enterprises (CASME), Camel Group Company Ltd., China Council for Promotion of International Trade (CCPIT), Sinoma International Engineering Company, New Hope Liuhe Company Ltd and construction wing of CCPIT. Mr. Naidu said that six ports and eight new airports would be built in the State. Also the government plans to develop Vijayawada, Visakhapatnam and Tirupati as ‘Smart Cities’.
SOURCE: Yarns&Fibers
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 60.23 per barrel (bbl) on 16.04.2015. This was higher than the price of US$ 58.36 per bbl on previous publishing day of 15.04.2015.
In rupee terms, the price of Indian Basket increased to Rs 3756.55 per bbl on 16.04.2015 as compared to Rs 3641.66 per bbl on 15.04.2015. Rupee closed stronger at Rs 62.37 per US$ on 16.04.2015 as against Rs 62.40 per US$ on 15.04.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on April 16, 2015 (Previous trading day i.e. 15.04.2015) |
Pricing Fortnight for 16.04.2015 (March 28 to April 10, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
60.23 (58.36) |
54.92 |
|
(Rs/bbl |
3756.55 (3641.66) |
3425.91 |
|
|
Exchange Rate |
(Rs/$) |
62.37 (62.40) |
62.38 |
SOURCE: PIB
The imports of man-made filaments and knitted or crocheted fabrics by the Southeast Asian nation of Indonesia increased in the first quarter of 2015, according to the data from Statistics Indonesia. From January to March 2015, Indonesia imported US$ 330 million worth of man-made filaments (HS Code 54), registering a growth of 11.15 per cent over imports of $296.9 million made during the corresponding period of 2014.
Likewise, Indonesia’s imports of knitted or crocheted fabrics increased by 7.31 per cent to $327.4 million compared to imports of $305.1 million made during the same period last year, the data showed. Indonesia imports fibre and fabrics for its flourishing textile and clothing industry, which makes a significant contribution to the country’s economy, in the form of providing employment as well as earning foreign exchange. The textile sector employment in Indonesia is estimated at about 1.55 million, and another 570,000 people are employed in the apparel sector.
SOURCE: Fibre2fashion
More than half of China's exporters expect a trade slowdown to last at least six months as production costs climb and European demand weakens, according to a Reuters survey at the country's biggest trade fair. On the opening day of the biannual Canton Fair in the Pearl River Delta, the workshop of the world, the cavernous halls were filled with international buyers, but many, especially Europeans hit by a weaker euro, appeared to be ordering fewer goods and haggling hard with manufacturers. The fair is taking place just after economic data showed China's exports unexpectedly fell 15 per cent in March and its economy grew at its slowest pace in six years in the first quarter.
A Reuters survey of 90 mostly small to medium-sized manufacturers of goods from consumer electronics to heavy machinery and car parts showed many at the fair are expecting tough times. On average respondents expected their orders to rise just 3.1 per cent in 2015, while production costs, mostly labour and materials, would climb 6.5 per cent. While 43 per cent of those polled said they expected an export rebound within six months, 24 per cent said the downturn would continue for at least six months, and a further 33 per cent put the timeframe at more than a year. The fair has long been a barometer for the economy of China, which has been the world's biggest exporter since 2009, but the country's dominance is under threat as the currency strengthens, labour costs soar and authorities shift from an excessive reliance on exports. Many respondents reported a continued tightness in the labour market as skilled young workers become harder to find and the economy rebalances towards consumption and services.
Hard bargain
Some European buyers, hit by a sharp depreciation in the euro against the dollar and China's yuan, were pushing for discounts, despite exporters looking to raise prices an average of 4.6 per cent this year, the poll showed. "There are still buyers," said Zhu Xiangkui, a manager at a stall selling batteries, as he shook his head. "(But) most of them have the mentality of bargaining when they arrive." Juan Banovio, a veteran buyer from Spain with a retail business in Madrid, said some Chinese manufacturers had agreed to slash prices by 8-10 per cent as price competition intensifies and buyers become more discerning. "They understand the pressure we face in Europe ... and they're trying to help, but not much. Most European buyers are ordering less," said Banovia at a stall selling brightly colored vacuum cleaners.
Since the 2008/09 financial crisis, China's exporters have struggled with a strengthening currency and rising labour costs, with global supply chains shifting increasingly inland or to cheaper hubs such as Vietnam and Bangladesh. While many factories said the impact of yuan appreciation was not as significant over the past 12 months compared with previous years, the poll found that on average manufacturers said they would be in the red if the yuan hit 5.6 to the greenback, compared with about 6.2 now. "Right now the exchange rate (the yuan) is stable, and that's good," said George Chen, a factory manager with Qiyun Audio that manufactures amplifiers. "But if it goes below 6 (to the dollar) that would mean all factories would have nowhere to go, or at least 80 percent of factories couldn't survive."
Recent currency fluctuations, however, have offset some costs for Chinese factories, making some imports cheaper, including raw materials and precision parts from Europe or Japan. Some 40 percent said they were pessimistic about their factory's prospects, while 59 percent were neutral. "We all have a kind of pessimism," said Lu Jie, a vice-general manager of YSD, a metal-forming machinery factory in the lower-cost area of Hubei in central China. "We have orders, but the environment is still so tough."
SOURCE: The Business Standard
Conference with the aim to exchange successful business practices, programmes, and policies related to energy and resource efficiency in textile and clothing industry, sustainable textile chemistry and water management in the EU, Mediterranean partner, and Western Balkan countries will be held in Poland later this month, hosted by the European Commission. Seminars will also cover new post-consumer textile recycling technologies, potential opportunities for greater use of EU-origin natural fibres in the textile sector, and sustainable production methods emerging in biotech, biomimicry, and biological textiles.
Panels on digital integration will look at examples from across Europe of how real-time data exchange can lead to better-integrated supply chains, whilst discussions on energy efficiency and sustainability will include how to stimulate innovation and develop new business models that address the need to preserve energy, textile materials, and water. The conference is organized within the framework of the Euro-Mediterranean Dialogue on the textile and clothing industry, will be held in English and French 27-28 April at Sukiennice (The Cloth Hall), Rynek Główny 1-3, in Kraków, Poland.
SOURCE: Yarns&Fibers
The impact of the Trans-Pacific Partnership (TPP) agreement on China and non-TPP major Asian manufacturers South Korea and Taiwan will be minimal. However, other non-TPP Asian nations (particularly textile manufacturers) and small domestic producers in the TPP countries are likely to lose out significantly, according to BMI Research, a leading, independent provider of proprietary data, analysis, ratings, rankings and forecasts.
The TPP is a proposed regional regulatory and investment treaty. Opponents of the TPP have criticised it as a secretive, multinational trade agreement that threatens to extend restrictive intellectual property (IP) laws across the globe and rewrite international rules on its enforcement. In a report, BMI says that while countries are expected to reap broad-based gains, domestic small and medium enterprises (SMEs) are more likely to lose out as they face increased competition and lack the resources to fully utilise the TPP provisions. Other Asian countries that have been excluded from the TPP will also face increased competition as members gain preferential access to key export markets.
Despite general opinion that China stands to lose the most when the TPP is signed, its losses from its exclusion will be largely economic and it will not be a significant blow to the region's largest economy, says BMI. It is possible that China will experience some trade diversion on a small scale as it is a net exporter to TPP countries (accounting for approximately 35 per cent of total Chinese exports). The report says the impact of the TPP on South Korea is also likely to be minimal and its relationship with its largest trade partner, China, should be unaffected. As Seoul has trade agreements with TPP participants the US, Vietnam, Malaysia and other ASEAN states, the country is unlikely to experience a significant degree of trade diversion or a marked increase in transportation costs as goods cross borders as part of Asia’s Global Value Chains (GVCs).
As with South Korea, BMI believes the impact of the TPP on Taiwan will also be fairly minimal. Direct Taiwanese exports to the US are unlikely to face additional competition as a result of the TPP. Most of Taiwan’s trade with the US consists of electronics and machinery that have low tariff rates due to WTO agreements. With tariff rates already so low, border issues (such as tariffs and customs regulations) are unlikely to erode the competitiveness of Taiwanese products in the US.
SOURCE: Fibre2fashion
Vietnamese lingerie maker Anh Khoa Production and Trading Company will be importing materials from India. Anh Khoa has recently signed a memorandum of understanding for importing materials from members of the Indian Synthetic and Rayon Textiles Export Promotion Council (SRTEPC), according to Vietnamese media reports. Initially, Anh Khoa will buy feedstock from India and later on the cooperation would expand to other fields, said Ngo Ngoc Hoa, CEO of the company.
For the first time, an Indian Textile Exhibition (INTEXPO) was held last week along with the recently concluded Saigon Fabric and Garment Accessories Expo (Saigon Tex). During Vietnamese Prime Minister Nguyen Tan Dung’s visit to India last year, the Indian government had committed to invest US$ 300 million in the Vietnamese textile and garment industry.
SOURCE: Fibre2fashion
Oil rose more than three per cent on Thursday, pushing Brent crude to a 2015 high above $63 per barrel on increasing evidence that US production is peaking, balancing a market that has been in heavy oversupply for more than a year. Oil prices collapsed in the six months to January, pushing Brent down more than 60 per cent to almost $45 a barrel. But the market has gradually recovered this year as much lower prices have discouraged oil exploration and production, especially in the United States.
Brent crude futures for June on Thursday hit $63.29 a barrel, the highest since December, after the previous much weaker front-month futures contract, for May, expired on Wednesday. By 1235 GMT, June Brent was at $62.27 a barrel, down $1.05 from the previous close for June, but up sharply from Wednesday's close for May at $60.32. US crude was at $55.29, down $1.10, after hitting a 2015 high of $56.69 on Wednesday. US crude has been logging its strongest upswing this year as ebbing fears of an inventory overflow and renewed hedging in far-distance futures flatten the forward curve.
US crude oil production has begun to slow after several years of very sharp growth, industry data show. The Organization of the Petroleum Exporting Countries said in its monthly report on Thursday that US oil liquids output would increase by only 740,000 barrels per day (bpd) in 2015, down from growth of 1.64 million bpd last year. Reuters technical analyst Wang Tao told Reuters Global Oil Forum that Brent could rise towards $70 a barrel in the near term, but that a sharp downturn could happen after that. US oil prices jumped on Wednesday after U.S. inventories built up more slowly than expected, although still to a new record. Talks between major oil producers also triggered speculation of production cuts, even though most analysts said these were unlikely. Despite the oil price rally, the market remains oversupplied, analysts say. "The recent bounce comes despite a surge in OPEC crude oil production in March which is likely to have been sustained in April," ANZ bank said.
SOURCE: The Business Standard
Benzene prices surged 13-16% in March across regions while US numbers hit a four-month high in the first week of the month. In Asia, a strong demand for May cargoes supported prices to go up while in European bullish sentiments caused prices to jump. In US, derivative styrene’s demand for benzene held firm as participants eyed export opportunities to Europe, which ultimately led to reductions in benzene supply locally. In Latin America, benzene prices rose week on week tracking key global markets higher.
Asian benzene marker, the FOB Korea was assessed at US$755-756 a ton while US spot benzene prices rose 16% to US cents 249.70-249.80 per gallon FOB USG. European spot benzene price averaged US$702-703 a ton CIF ARA while FOB Rotterdam values were at US$712-713 a ton, both up 16% on the month. Naphtha prices for March averaged US$530 a ton CFR Japan, up US$98 from previous month. The market took severe beating in the first three weeks but recovered sharply in the last on crude oil support. Thus, the rapid rise in benzene prices over naphtha has widened the spread between the two. European benzene margins jumped to a US$368 a ton premium over naphtha, as benzene exports out of the ARA to the US Gulf Coast shortened supply length in Europe. Similarly, the premium over USG naphtha US$306 a ton and that in Asian markets was close to US$240 a ton. So far in 2015, the spread averaged US$183 a ton for Asia, US$281 a ton for Europe and US$223 a ton for US. In normal business conditions, a premium of US$250 a ton is termed as sufficient to cover production costs.
The spread has widening from February as more material was absorbed by US, but it will take a while for the supply chain to absorb all the molecules around. The benzene market was in ample supply since the beginning of the year as a combination of high cracker run rates and turnarounds at downstream SM units left an abundance of material in the European region. Market experts expect the spread to widen further when downstream SM units are back online in the second quarter which would spur an uptick in demand for benzene. Meanwhile, caprolactum prices surged slightly in March on the back of supply snug, increased demand and rising benzene prices. Demand increased as run rates at nylon chip and nylon textile makers picked up. Sinopec and DSM Nanjing Chemical adjusted up their settlement for March. Asian caprolactum spot prices averaged US$1,650-1,690 a ton in March, up 8% from last month. Similar, numbers for US averaged US$1,425 a ton, up 2% and Euro1, 548 a ton in Europe, up 1% over February.
Nylon chip prices picked up on support of the rally in benzene and firming caprolactum markets amid decent downstream demand and low inventory. In China, as downstream mills resumed operation, overall operating rate picked up. However, buying interest remained cautious given inventory built up earlier. In non-textile-yarn, cord fabric and fishing net yarn, buying interest for chips was mild, with prices held stable. Offers for Taiwan-origin chips averaged US$1,980-2,000 a ton, up 7% from February. In China, bright conventional spinning nylon-6 chips were priced at US$2,247-2,430 a ton while semi-dull chips were offered at US$2,350-2,480 a ton. Nylon filament yarn prices looked up on raw material costs while prices of staple fiber and cord fabric were on a firm note. In China, although nylon yarn sector was picking up, orders were still limited on lusterless end demand against surplus supply, exerting resistance on price hike of nylon yarn. Overall demand was seen not active enough, thus producers resumed production slowly. In China, semi-dull FDY70D/24F was traded at US$2.95-3.01 a kg, up US cents 2 while FDY40D was pegged at US$3.29-3.47 a kg, up US cents 3-5 from February. Thus, the spurt in benzene had a quick percolating effect of the nylon chain as prices all along were seen rising in March. Expectation of a further surge in benzene values will only add to the escalation and buyers will seek to replenish as much as possible to balance cost and pricing of their end products.
SOURCE: Yarns&Fibers
