In the last fortnight price of Crude Oil increased due to weakening of U.S.A currency. Weak U.S.A greenback prompted investors to hold strong non dollar currency like Crude Oil, created fresh demand. Positive impact of growing manufacturing activities was also observed on Crude Oil price fundamentals. In the second half of the last fortnight price of Crude Oil continued to increase due to higher rates for direct loans to banks and strikes by Oil refinery workers plus effect of weak U.S.A currency continued.

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In the last fortnight price of Naphtha increased in tandem with overnight sharp rise in primary energy market. Although the refineries’ profit was theoretically speaking strong, but the local decomposition of manufacturer replenishes stock footsteps slowed down as price was increasing rapidly. By the end of the first half price of Naphtha remained positive in Asian market as Chinese buyers were back to the market in the mid of the last fortnight plus upstream of Naphtha took short jump. Beginning of the second half of the last fortnight Naphtha market opened with firm sentiment.

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In the last fortnight price of Paraxylene increased after initial stagnation. Price hike was purely due to poor operational rate and shutdown at production facilities of Paraxylene plants where main reason for the curtailment in the production had been attributed to poor economic fundamentals. In the second half of the last fortnight Asian market turned active as more and more Chinese traders back to their desk. In Asian market downstream buyers had ample of inventories for March still they rush to buy considering heavy outages in the second quarter of 2010 which may create availability shortage.

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PTA prices increased at slow and steady rate in the last fortnight. In the first half of the last fortnight Chinese market was closed and market like Thailand and S Korea were attempt to recover from the hurt of extension of 6 month of anti-dumping measures. Many of PTA plant operators reduced their plant operation rate in this region. For the second half of the last fortnight it was expected that as soon as Chinese spring festival holiday got over, PTA market sentiment in terms of production and marketing improve gradually, expected gradual recovery.

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In the last fortnight price of Ethylene declined as availability increased, despite of healthy demand in market. Decline in price was mainly attributed by Chinese Lunar New Year, as Chinese buyers retreated from the market, whereas buyers from S Korea and Taiwanese markets also took wait-and-see stance, so trade was muted during the first half of the last fortnight. Traders were also not active in the market as Ethylene cargo imported from Korea and M E Asia was available at same rate. Asian Ethylene spot prices went from steady to soft, reflecting lack of trading interest in the market.

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In the last fortnight price of MEG increased. In other Asian countries speculators were adopted stance of wait and watch as during first half Chinese market was closed due to Lunar New Year holidays. In the first half supply from M E Asian market remained tight but as Chinese demand muted, availability crunch was not observed. In the second half of the last fortnight MEG prices revived again with help of firm March contract price announced by the Asian major producers. Asian MEG market was strong as Chinese market reopen after the week long holidays.

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Following the end of the Spring Festival, polyester fundamental market sentiment was quiet as some plants have not resumed operation. Polyester chip market recovered gradually after holidays with market prices going up in the Chinese domestic market, as players were optimistic about the market after long holidays. Polyester chip prices went up marginally during the second half of this last fortnight in the Chinese domestic market, but the market dropped into thin trading activities, as downstream demand had not yet recovered quickly.

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Polyester staple fibre market was quite and stable this time in the beginning of this last fortnight due to the holidays in the Asian market. Trading atmosphere was mild during Lunar New Year in the Chinese domestic market. Polyester staple fibre price may continue to strengthen further backed by price hikes of crude. As most downstream producers did nit returned back from their holidays. Polyester staple fibre market sentiment had been still poor during the second half though the holiday is over. It is expected that polyester staple fibre demand will increase in the short term.

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Overall polyester filament yarn market was stable. There was no news on futures market at the beginning of this fortnight and the market remained stable initially. Then there was trend of price rising after the holidays in the Chinese domestic market. Polyester filament yarn market showed signs of upward trend with small increases on offers in the Chinese domestic market after the holidays. Affected by rising crude oil and PTA futures during the Lunar New Year break, polyester filament yarn trading prices went up during the second half in the Chinese domestic market.

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In the last fortnight Propylene market surged on the back of firm downstream demand. In the beginning of the first half of the last fortnight price of Propylene was little bit sluggish as Chinese market was closed due to Lunar New Year holidays, and also because off poor downstream market. In the second half of the last fortnight price of Propylene remained firm with support of limited availability and active buying interest of Chinese speculators who were just come back from New Year holidays.

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In the last fortnight price of Acrylonitrile increased in global market on the back off limited availability and firm upstream. In the first half of the last fortnight Acrylonitrile seller firmly defend the offers as availability in Asian region remained tight despite of lack of Chinese demand due to Lunar New Year holiday. In the second half of the last fortnight impact of higher price gradually accepted by downstream industry. In the beginning of the second half small volume transaction at high price turned the market sentiment slowly. Sellers and traders had not many cargoes available in hand or not eager to sell was still doubtful.

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Acrylic fiber prices were under increasingly upward pressure from feed cost, and the outlook will not become clear until market start up. Acrylic staple market firmed up given strong support from feed cost, while trading activity was muted due to flat downstream demand. Prices stabilised on high position in USD based market. Acrylic fibre market is expected to hover up in the short term due to rise in raw material costs. Acrylic fibre market sentiment strongly went up further driven by higher price on feedstock market in USD based market during the second half in the Asian region.

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In the last fortnight price of PP went through wavy ride, in the first half of the last fortnight price reduced some what where as in other half price increased with the help of positive market fundamentals. In the first half of the last fortnight Asian market remained calm as buying interest from Chinese market remained muted due to New Year. Price of PP in European market increased at slow and steady pace as February contracts were settled at higher side compare to January contracts. In Asian market also price was increase as post holiday demand from Chinese market improved.

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In the last fortnight Benzene price increased in global market with help of firm upstream market. Price of Benzene was firm in European market as well and in Asian market fundamentals were strong also. Few downstream producers turned around their plants but major effect was not observed in demand supply of European Benzene market. In the second half of the last fortnight price of Benzene continued to increase on the base of robust regional buying trends and sudden raise in Crude Oil prices due to speculative touch.

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In the last fortnight price of Caprolactam increased with help of positive market fundamentals. Asian speculators firmly believed for bullish market in the second half of the last fortnight due to multiple plant outage and firm support from upstream and downstream. In the first half of the last fortnight major consumer of China in Asian market was closed due to New Year holiday still demand kept firm in the first half of the last fortnight. In the second half of the last fortnight price continued to remain bullish with support of availability crunch.

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In the last fortnight price of Nylon Chip increased after remaining amid stable in the first half of the last fortnight. In the first half of the last fortnight price of Nylon Chip was expected to increase but major consumer Chinese market was shut. As market fundamentals remained some how balanced but in second half of the last fortnight price increased at slow and steady pace. In the second half of the last fortnight price of Nylon Chip continued to increase on the back of downstream demand and Chinese market reopened after Lunar New Year holiday.

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During holiday, some enterprises kept running by half. It is expected that transaction quantity will gradually increase. Buying and selling interests were weak in nylon filament market after Chinese Lunar New Year. Due to high feed cost, values kept firm, and low-priced supply reduced, while liquidity was unsmooth, as downstream producers were still on holiday. In China, nylon filament market remained inactive during the first half of this last fortnight and overall trades were still limited, so prices were stable. Propped by rising CPL and nylon chips as well as increasing enquiries, suppliers increased their offers.

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Most linter suppliers maintained their facilities at low rates or even closed after the Chinese New Year holiday in the Chinese domestic market. Producers had no intention to resume their operation amid shrinking cottonseed prices. In cotton pulp market, prices kept steady, with producers reluctant to sell. Cotton linter pulp mills did not change offers greatly after the holiday. Cotton linter pulp market saw moderate sales during the second half of this last fortnight. Cotton linter market recovered slowly after the holiday but the supply did not increase much due to low operating rate.

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In the week before the festival, viscose staple fibre prices went up marginally in the Chinese domestic market. Supply of viscose staple fibre was very tight, inventories were low, and so quotes from the suppliers were firm. Overall sentiment of viscose staple remained steady, with players expecting the price-hike. Individual producers raised their offers after the holiday. Feedstock prices keep rising and spun yarn and downstream fabric market also show good performance, so viscose staple fibre price will keep upward momentum in the coming fortnight.

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Viscose filament yarn market was quite in the Chinese domestic market at the beginning of this last fortnight due to Lunar New Year. Then the market started to pick up the momentum and viscose filament yarn market continued to perform as what before the holiday. Viscose filament yarn market also made a good beginning, as producers raised offers for all varieties. Traded price will climb up slowly and the increase will depend on the sales later and demand for viscose filament is expected to improve with operating rates gradually rebounding.

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Cotton futures further went up during the first half of this last fortnight in U.S, boosting price levels in Pakistan and India, but stopping physical demand on the international market. Cotton prices in India are on fire. Cotton prices further surged to extremely high levels during the second half in New York. India's cotton prices may remain higher on government decision not to curb soaring exports of the commodity and on a fall in arrivals in the domestic market. Prices were on the upward march on the Pakistan cotton market in accordance with the international market.

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Wool prices went up in Australia, entirely due to a higher level in the Australian dollar while demand was weakened by Chinese and Korean holidays during the first half of this last fortnight. Buyers for China were again dominant, followed by buyers for Taiwan and India. Wool prices remained stable in Australia while rising in South Africa and falling in New Zealand during the second half of this last fortnight. The stronger presence from buyers for Italy in Newcastle was good to see and the generally better buying activity for Europe seen in recent weeks was maintained.

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