In the fortnight ending January 31, nylon chip market remained elevated with firm support from downstream market. Market experts expected substantially large demand from downstream textile sector when Chinese market reopened.
In the second half of the fortnight, price of nylon chip remained firm due to optimistic market outlook and robust feedstock prices. During this period, price hike in nylon chip was slower due to which nylon chip producers even reduced their plant operation rates to prevent rise in inventories.
Nylon filament yarn market remained firm and stable in the USD based market in Asian region during the fortnight. Nylon filament yarn market was facing increasing cost pressure; while downstream demand tended to shrink as rising number of mills suspended production.
Nylon filament yarn prices went up in USD based market in Asian region due to support from strong feedstock market during the fortnight. Demand, on the other hand, remained poor as downstream users were just slowly ramping up production.
Fibre2fashion News Desk - India