During last fortnight Crude oil price went up to the record height. In beginning of the last fortnight price of Crude oil turn bullish when supply of crude oil narrow down from Mexico gulf due to bad weather. Another reason was speculation, OPEC president give a statement that OPEC has maintained their daily production since last March.

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During last fortnight price of Naphtha went up during last fortnight Another selling offer for May loading Naphtha cargoes was from IOC, cargoes were suppose to lift up from Kandla port in early May. By the end of the second half US dollar appreciated hence crude oil price slide down which directly give an impact on Naphtha price.

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Paraxylene prices in Asia went up during the first half of this last fortnight. Gains were recorded on the back of reports of a fire at Japan’s Kashima Aromatics. Domestic demand had picked up some with increased PX production but exports to Asia were nil. The spot market has been very quiet with very few deals.

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During last fortnight there was mixed reaction in price of PTA. In European market demand was strong for downstream buyers of PTA, overall market was balanced but price was supposed to raise with the wave of planned outage in PTA production plants. Further price hike could not be absorbed by the market in current circumstances; there was no room for further increases.

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Ethylene prices went up in the spot market this time in Asia as supply tightened due to several cracker turnarounds across the region. Ethylene prices continued to strengthen during the second half. Prices went up on the back of limited availability due to several cracker shutdowns. This in turn is keeping regional avails limited and is helping support sharp price spikes.

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During last fortnight MEG prices went down in market. In first half of the last fortnight sentiment was improved but at the end of the last fortnight price went down. SABIC's contract vessel will still be delayed, The UAE based major producer resumed normal production in mid-March and its material is expected in Chinese ports by May first half.

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The domestic polyester chip market fell this time due to worsening buying demand due to poor market performance. Intensified sales pressure continued to push Chinese chip producers to offer low prices to stimulate the sales. The weak buying momentum had not yet shown any signs of recovery and domestic polyester chip market fell further due to worsening buying demand.

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The poor demand scenario had shown no signs of recovery across the downstream staple yarn and fabric markets. Polyester prices were falling in China, reflecting the lack of demand and the high level in inventories at fiber plants. Polyester fiber producers were again forced to lower their offers in the last seven days on China's market.

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Buying demand slightly recovered during the first half of this last fortnight as producers’ lower offering prices lifted consumer’s enthusiasm for inventory replenishment. Nevertheless, the buying sentiment remained below market expectations due to strong concerns over weak performance across the fundamental fabric and textile export markets.

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Propylene prices continue to edge up in Asia this time. Supply constraints coupled with crude prices rallying to all time highs, naphtha prices bolstering higher and downstream PP prices recording gains, pushed Asian propylene prices higher during the first half of this last fortnight. Propylene prices continued to follow the uptrend in Asia during the second half.

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Bullish trends continue to grab ACN prices in the global market. A record-breaking mark in the upstream crude oil prices, which put impact on propylene and ammonia costs, and weakness in the US dollar, exerted upward pressure on ACN spot prices. ACN producers were very cautious while trading; as they were want to continue the bullish sentiment in market for long time.

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Domestic acrylic staple market sentiment remained lackluster as a whole during the first half of this last fortnight in China. Acrylic fiber market held steady during the second half. The transactions of acrylic staple fiber were lackluster, with increased stocks, while acrylic tow and acrylic top performed slightly better. Settlement prices issued by major producers were nearly flat with their nominations.

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During last fortnight price of PP went up in global market. Price was firm in polymer market which was supported by higher feedstock price and low availability. Buyers took stance of wait and watch hence buying activities was not activated highly. Problem of Credit crunch was also arising in market, lack of liquidity resulted in lack of payment which was highly concerned by the PP sellers.

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Benzene prices raced higher across Asia at the beginning of this last fortnight. With crude prices racing to all time highs, demand for benzene in Asia was seen robust. In plant news meanwhile, the HDA unit comprising of Benzene operated by Taiyo Oil will be taken off stream for a maintenance turnaround from June for a period of one month.

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Price of Caprolactam slide down during last fortnight. Market was lusterless during first half of the last fortnight. Buying interest in the downstream market was low due to credit crunch in market. Overall sales of the domestic manufacturers were moderate and price was adjusted little bit. But as per the fundamentals market remained stable, demand softened but supply remain normal which softened the price.

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Price of Nylon Chip was steady during last fortnight. Nylon chip prices fell a little bit during last fortnight but actual trading price was not drastically reduced. Speculators believed that Nylon 6 semi-dull to remain flat in May due to poor demand from downstream. Imported Nylon chip market did not see large trading volume as the buyers took stance of wait and watch.

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Nylon filament yarn market continued to be weak this time as well. The leading products of FDY, POY and DTY all were in downturn, and some prices dropped marginally. Overall, nylon filament yarn markets remained sluggish. Nylon monofilament market greatly improved as the downstream demand was very brisk.

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The prices of cotton linter went down during the first half of this last fortnight. Downstream plants purchased feedstock at a low level and they generally showed buying interest to high-quality 2nd cut cotton linter, the supply of which remained rather tight. However, some traders were eager to sell the cargoes and revised down the prices.

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The viscose staple fiber market was falling in China where staple fiber prices started more rapidly declining in the past two weeks. Raw material costs were sharply decreasing while prices of spun viscose yarns were also losing ground. As VSF market presents depressed and the feedstock costs soften so the price of VSF is likely to slide down in the short run.

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Now VFY costs hovered at a high level, though the prices of cotton linter pulp showed a sign of going down, VFY producers still had deficits in business so price adjusting-up became a necessity for them. Downstream demand kept being lackluster. Viscose filament yarn market was stable during the second half and some traders purchased at low numbers.

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Cotton prices were subject to a very strong volatility at the beginning of this last fortnight in New York, finally falling to much lower levels. The U.S. market was negatively affected by a decline in commodity markets, triggering a fall in physical prices. Demand from spinners is still extremely low amid large cotton stocks on the international market.

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Wool prices were falling in Australia, mainly due to a lack of demand from China while available quantities are also much larger than previously anticipated. A rising Australian dollar is putting downward pressure on prices. It was a generally easier market this week that was also influenced by the appreciation in the US exchange rate.

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