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Wait-and-see trend prevails in Polyester filament market
07
Oct '08
After a week long holiday, on the occasion of National Day, market saw a weak trend on Monday, October 6. MEG prices went down; PTA futures prices fell; however, spot prices experienced a bit of hike due to lower supply.

Quotations of semi-dull and bright polyester chips along with CDP chips slipped down; and PET bottle chip consolidated.

Acrylic staple fiber 1.5D × 38mm, acrylic top 3D × 102mm prices remained stable; CPL, nylon 6 chip prices were under control.

Trade volume of polyester filament began to edge upwards, but prices declined. Currently spinning chemical fiber plants faced stock pressures; due to some low-price dumping activities, polyester filament market has acquired strong wait-and-see attitude. Experts are anticipating that the market will move down further.

Entire yarn market was stabilized, only individual polyester yarn fell around 100 yuan per ton. Offers for viscose yarn were moderate, but actual trade volume was small. Demand for all types of cotton yarn mainly 32s, 40s was on the higher side, as they are used in production of nylon/cotton fabrics on air-jet looms.

Demand from the downstream manufaturers for rayon yarn saw a gradual decline. Viscose staple fiber price remained unchanged on the first trading day. Polyester staple fiber price fell to 10,400 yuan per ton on average. Polyester yarn market is expected to show a weakening trend.

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Fibre2fashion News Desk - China

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