| Crude Oil |
CrudeOil Highlights from 01-15, Nov 2009
In the last fortnight price of Crude Oil increased due to active demand surge from downstream market. By the end of the first half of the last fortnight price of Crude Oil turned bullish on the back of news of declined inventories of U.S.A for Crude Oil and energy products. In the mid of the last fortnight Crude Oil prices were pressured higher due to a weakening of U.S.A greenback. Positive impact of U.S.A. and Asian equity market was also found in the Crude Oil market.
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| Naphtha |
Naphtha Highlights from 01-15, Nov 2009
In the last fortnight price of Naphtha increased with the strong support of upstream prices. Demand for the feedstock increased in the domestic markets even though many buyers selected option of natural gas. In the second half of the last fortnight price of Naphtha continued to remain at higher level even though in volatile market condition. Downstream Naphtha buyers expected a weak market from last month, as buyers wanted to keep their petrochemical stocks low due to the week-long holidays.
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| Paraxylene |
Paraxylene Highlights from 01-15, Nov 2009
In the last fortnight price of Paraxylene increased due to availability crunch mainly attributed by the poor operational rate by the manufacturers. Majority of the manufacturers blamed higher Crude Oil and Naphtha prices for reduction in their operational rate. In the second half of the last fortnight Paraxylene price increased mainly due to firm energy price and optimistic downstream market. Buying interest for Paraxylene was increased as speculators find higher returns here due to robust energy market.
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| Purified Terephthalic Acid |
PTA Highlights from 01-15, Nov 2009
After the bearish initiation, PTA price moved up steadily during the entire last fortnight. Since the many of downstream buyers had finished with their limited PTA stocks, tides of replenishment cause bullish rally. In the mid of the first half of the last fortnight unexpected price rally broke the price deadlock among the buyers and sellers. By the end of the first half of the last fortnight PTA future pick up the bullish undertone following to stock market due to which lower offer vanish from the market and genuine trading enquiries turned active.
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| Ethylene |
Ethylene Highlights from 01-15, Nov 2009
In the last fortnight price of Ethylene increased due to hyper trading activities. S E Asian market was facing supply shortage due to outage at Iranian plant; above all news of outage at Marun Petrochemicals forced them for restless effort to secure their Ethylene stocks. In the second half of the last fortnight buyers turned highly cautious for prior concluding any fresh deal as they were well aware that new production facilities from M E Asia can change the price scenario any time.
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| Monoethylene Glycol |
MEG Highlights from 01-15, Nov 2009
In the last fortnight MEG price increased to higher level of this year with the firm support of upstream and downstream polyester market. In the beginning of the first half of the last fortnight price of MEG started with bearish sentiment. Price of MEG declined too at the very beginning of the last fortnight. In the second half of the last fortnight seller became reluctant to sell their goods as more inquiries emerged in the market made them comfortable for price hike. In the second half of the last fortnight MEG price gain was mainly attributed by the firm upstream prices.
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| PET Chips |
PET Highlights from 01-15, Nov 2009
Polyester chip prices went up this time in the Asian market driven by the increase in raw material costs. Polyester chips prices softened at the beginning of this last fortnight but then increased by the end of the first half in the Chinese domestic market. Polyester chip prices further went up during the second half in the Chinese domestic market due to strong feedstock price and tight spot supply. PET bottle grade chip prices went up during the second half as suppliers raised offers on rising cost.
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| Polyester Staple Fibre |
PSF Highlights from 01-15, Nov 2009
Polyester prices went up sharply in the Asian market, in line with a rebound in raw material costs. During the first half polyester staple fibre prices softened at first but then went firm in the Chinese domestic market. Polyester prices began more strongly rising in India, mainly due to a rebound in demand in the post-holiday period. After price increase during the first half, transaction went into stall during the second half in the Chinese domestic market. Prices remained stable and no price changes are also expected during the rest of the calendar year.
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| Polyester Filament Yarn |
PFY Highlights from 01-15, Nov 2009
Overall polyester filament yarn sentiment rebounded this time after previous weakness. Raw material costs and improved sales pushed up polyester filament yarn prices this time in Asian market. Polyester filament yarn market remained steady during the first half of this last fortnight in the Chinese domestic market and sales were flat. Polyester filament yarn prices went up during the second half of this last fortnight in the Chinese domestic market. In Europe, domestic prices remained unchanged for polyester filament yarn.
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| Propylene |
Propylene Highlights from 01-15, Nov 2009
Price of Propylene increased in the last fortnight after remaining stable initially. In the second half of the last fortnight price demand for Propylene was robust, due to which prices increased stunningly. Traders were actively seeking for Propylene cargoes as demand trend in November is expected to remain positive, bearish market for Propylene is expected from the mid of the December. By the end of the last fortnight Propylene market in European region remained bullish as all the major global markets hit the bull’s eye.
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| Acrylonitrile |
ACN Highlights from 01-15, Nov 2009
Acrylonitrile market remained standstill at the end of the last fortnight due to balanced market fundamentals. In the second half of the last fortnight buying interest for Acrylonitrile declined further due to weak demand, despite of tight spot supply. For Acrylonitrile, fourth quarter is usually off season hence buying sentiment will remained subdued. By the end of the last fortnight bullish sentiment thickened suddenly following to firm upstream market. By the end of the last fortnight price Acrylonitrile strengthen further with the firm cues from the Western markets.
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| Acrylic Staple Fibre |
ASF Highlights from 01-15, Nov 2009
During the first half of this last fortnight, acrylic fibre market remained stable. Acrylic fibre market will remain steady in short term amid stable demand. Acrylic fibre prices remained firm during the first half of this last fortnight in the Chinese domestic market. The acrylic fibre sentiment was healthy, and supply/demand fundamental was stable. In USD based market, offers were hiked supported by the rise in feedstock prices during the second half of this last fortnight. No change is expected in the short term but demand is very strong in the export market.
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| Polypropylene |
Polypropylene Highlights from 01-15, Nov 2009
After a month long wait price of Polypropylene increased slowly in the last fortnight. In the global market seller were reluctant to sell and waiting for the sufficient price hike in the upstream of PP. By the end of the first half of the last fortnight demand in Asian region was uncertain still several sellers took risk of price hike for their offers on the back of availability shortage. In the second half of the last fortnight the buying sentiment turned active indolently following to price retreat overnight price hike in western market and international Crude Oil prices.
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| Benzene |
Benzene Highlights from 01-15, Nov 2009
In the last fortnight price of Benzene increased with firm support by European and U.S.A market and as well firm future sentiment of crude helped to turn buying interest aggressively. In the second half of the last fortnight price of Benzene was firm due to firm cues from global market and stronger downstream demand. By the end of the last fortnight price of Benzene increased continuously in Asian market while decline in price observed in European and U.S.A market.
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| Caprolactam |
CPL Highlights from 01-15, Nov 2009
In the last fortnight Caprolactam market increased. In the beginning of the last fortnight price of Caprolactam remained range bound but by the end of the last fortnight Caprolactam values strengthened again. In the first half of the last fortnight Caprolactam did not find support from its upstream hence downstream buyers stay away from the active participation in trading. In the second half of the last fortnight downstream buyers turned active as they need to replenish their stocks.
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| Nylon Chips |
NC Highlights from 01-15, Nov 2009
As per the expectation Nylon Chip market adjusted up moderately due to recovery in global economy. In the first half of the last fortnight price of Nylon chip was stable as buyers checking the price but afraid of volatile market, also to pass on additional price to their downstream was tough task. In the second half of the last fortnight Nylon chip market moved up with the support of upstream market. In the Asian Nylon chip market supply was tight and demand increased moderately particularly from Chinese region, influenced the prices to firm up at a slow pace.
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| Nylon Filament Yarn |
NFY Highlights from 01-15, Nov 2009
Nylon filament yarn market in China appeared to be active as margins decreased due to increasing feedstock costs. In Taiwan, nylon filament yarn producers tried to increase their offers but buyers showed resistance. So it is expected that the nylon filament market is much likely to go up steadily in the coming weeks. Demand for industrial nylon continued to weaken in U.S. Nylon filament yarn market improved in West Europe but sales were driven by restocking rather than by increased demand.
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| Cotton linters & Pulp |
PULP Highlights from 01-15, Nov 2009
Cotton linter price stabilised at a high level during the first half of the last fortnight in the Chinese domestic market after rapid increase in previous term. Cotton linter price continued to follow upward trend during the second half of the last fortnight in the Chinese domestic market. Cotton pulp prices went on the back of rising cotton linter values. Cotton linter price is getting close to the record high, same as cotton linter pulp rate. For cotton linter pulp price, there is still room for further increase supported by firm cost.
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| Viscose Staple Fibre |
VSF Highlights from 01-15, Nov 2009
Viscose staple fibre prices went up this time in the Chinese domestic market. Prices of viscose staple fibre were up in China while they were steady in Pakistan and India. In China, supply was tight and inventories at producers’ level were low amid decent demand. Viscose staple fibre prices continued to go up during the second half of this last fortnight in the Chinese domestic market. The market in West Europe for viscose staple remained unchanged with demand holding up well in the hygiene and wipes sectors.
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| Viscose Filament Yarn |
VFY Highlights from 01-15, Nov 2009
Viscose filament yarn prices remained stable this time in USD based market while trading activity remains subdued with transaction volume remain subdued. The market for viscose filament yarn in West Europe continued to be weak with only the lining sector showing signs of activity. Viscose filament yarn market began to see some improvement during the first half of this last fortnight in the Chinese domestic market. Thus viscose filament yarn price might be propped up to some extent. Market prices for viscose filament were steady, and mainstream numbers changed little.
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| Cotton |
COTTON Highlights from 01-15, Nov 2009
Cotton prices remained stable during the first half of this last fortnight in New York but continued rising in China, India and Pakistan. Cotton prices went up during the second half in U.S. Cotton prices gained significantly across markets. Furthermore, remarkable economic improvements in China, South Korea, India, Australia, Singapore and other Asian markets are also instrumental in boosting the cotton economy of Pakistan as Pakistani textile products are currently being exported to numerous destinations around the world.
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| Wool |
Wool Highlights from 01-15, Nov 2009
Wool prices went up during the first half of this last fortnight in China, Australia, South Africa and New Zealand. The market kicked back quickly from last time’s correction, with increases across all micron ranges. Wool prices continued rising in US$ terms, mainly due to a new fall in the American currency. Lower supply and a new decline in the USD may further boost wool prices in the remaining of the year. Buyers for China were dominant, followed by buyers for India and a limited presence by buyers for Europe.
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