Chinese PSF trends remain stable amid weak feedstock

Polyester raw material prices declined marginally which affected Polyester staple fibre market. PTA prices declined marginally in the Asian region due to subdued demand from the downstream buyers.

In the S E Asian market, PTA prices were assessed in the range of US$ 980/ton to US$ 985/ton while in F E Asia; PTA prices were at US$ 955/ton.

In the Chinese domestic market, PTA prices remained steady and were quoted in the range of RMB 7400/ton to RMB 7450/ton, while discussion levels were at RMB 7300/ton. However, MEG prices declined to RMB 7300/ton.

Majority of Polyester suppliers kept their offer prices stable, while some of them offered special discount in order to increase sales but downstream buyers showed moderate intention in buying.

In USD based export market, PSF prices for 1.4Den were around US$ 1.32-1.38/kg FOB N.E Asia basis today.

Fibre2fashion News Desk - India