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Overall polyester market likely to acquire declining trend
09
Sep '08
PTA, MEG prices continued to drop on Monday, September 8. Semi-dull and bright polyester chips also fell further. PET bottle-chip price also weakened.

Acrylic Staple 1.5 D × 38mm, acrylic top 3D × 102mm were stable; CPL, nylon 6 slices moved flat.

Polyester filament price looked weaker; with moderate trade volume, sales of low-priced brands dominated the market. Due to tight liquidity from down stream market, cash purchases were given price concession.

From market analysis of both upstream and downstream sectors, upstream raw materials still showed an inactive trend; where as buyer in lower reaches held a strong wait-and-see attitude. Therefore, in absence of support from both the sectors, bearish atmosphere prevailed in the polyester market. Experts believe overall polyester market will decline further.

Prices of all cotton yarn have been quite stable compared to others. Sales of cotton yarn 32s, J40s were fair; polyester yarn 45s had good market demand, which is mainly used in production of polyester-cotton lining fabrics.

Prices of 32s, 50s lowered by 50 yuan per ton; all of other items maintained temporary stability; Polyester & Viscose yarn prices saw a very slight change; rayon yarn 20s had small trade volume.

VSF price corrected. PSF price lowered further; outlook of polyester yarn market is expected to decline amid correction.

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Fibre2fashion News Desk - China

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