Hurricanes push PTA, MEG,VSF & chip prices to new levels

03 Oct '05

2 min read

In the aftermath of Hurricane's Rita and Katrina, as international manufacturers either shut their plants or faced production cuts following closures, led to feedstock prices rising by over US $100 per tons in international markets.

This spurred domestic polyester raw material manufacturers to increase prices of MEG, PTA, and polyester chips.

To further escalate the situation was the unsteady and ballooning global crude prices that prompted basic raw material manufacturers to pass the increases in their raw material costs to polyester manufacturers.

While MEG prices went up by Rs. 2300 per ton to Rs. 46800, the PTA prices increased by Rs. 2200 to Rs. 45100 per ton.

Not to be left behind, polyester chips went dearer by Rs. 2000 per ton to touch Rs. 57000 mark.

POY prices have dropped surprisingly by Rs 3000 per ton due to lower demand it has witnessed for the last few months however, polyester staple fiber (PSF) went up by Rs. 2250 per ton.

It is learnt that rising cost of raw materials and drop in POY prices has invited the ire of stand alone POY spinners as they foresee both small and large POY manufacturers getting affected due to this.

Even viscose staple fibre has seen upward change of Rs. 1000 per ton with prices quoted between Rs. 77,000 and 79,000 at Kharach, and Nagda and Harihar respectively, per ton.

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