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Lesser demand waver the market sentiment
15
Jul '08
This Monday, on July 14, PTA, MEG spot market attained a strong wait-and-see attitude, when prices were under suppression. Semi-dull and bright polyester chip prices remained unchanged; however, CDP chips, PET bottle-slice prices consolidated.

Manufacturers of acrylic staple 1.5 D × 38mm, acrylic top 3D × 102mm increased their prices; CPL, nylon 6 chips moved sideways. Polyester filament prices showed some stability; overall trade volume was at normal level; weaving demand was better. Although ex-factory prices offered by most spinning enterprises were flat, one big manufacturer from Shengze Province increased its offer price.

Presently, with lesser demand from the down stream manufacturers, confidence in future market is wavering. Chemical fiber spinning enterprises have reduced production, coupled with marginal rise in the buying interest of the down stream market, inventories at polyester companies have declined.

With the rising cost of raw material, spinning factories have intended to increase price, and therefore, polyester filament market is expected to raise their offer prices as well.

All cotton yarn prices continued a steady consolidation as a whole, prices remained stable; demand from lower reaches for 32s cotton + 40D spandex Core Spun yarn enlarged. This material is mainly used in production of elastic cotton/nylon fabrics; Core Spun yarn is offered at 25700-25900 yuan per ton.

Series of Polyester and Viscose yarn remained stable, but trade volume appeared poor. Polyester yarn market was firm. Sales of rayon yarn 10s slightly increased, price was barely steady. Investors expect that future market will mainly show in a moderate correction.

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Fibre2fashion News Desk - China

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