(1888PressRelease)
August 23, 2007 - Crude oil in the week remained firm, whereby Nymex futures rose slightly by 51 cents to 71.98 cents a barrel for September month delivery. Hurricane Dean which led to concerns is now forecast to have very little impact in the North American gulf, which may ease prices.
Naphtha in the benchmark Japan market saw some easing up. Prices fell $4 to $655 a ton CFR. In Rotterdam and the Mediterranean it saw slides of over 9%
Polyester Filament Yarn for the week saw a decline in India, Malaysia and Indonesia, while elsewhere remained steady. In India, it fell by 5-6 cents for respective grades, whereby POY 114/108 PFY was quoted at $1.96 a kg. While, PSF prices in most markets in China remained stable, except the spot prices in East China for 1.4D/38mm SD declined by 2.13% or 3 cents a kilogram. Local prices in India for 1.4 D/38 mm SD fell 5 cents to $1.64 a kilogram.
Paraxylene, one of the feedstock eased up a little bit across Asia while ethylene prices saw some firming up in Asia due to tight supplies. Among Fibre intermediaries MEG prices saw an increase with ethylene while PTA prices stood stable with little movement.
Polyester Chip prices remained mixed with benchmark Taiwan market lost $30 a ton closing at $1,220 a ton.
Nylon Filament Yarn of POY 20 D/1 SD specifications in India fell by about 16 cents. The other markets that saw a fall was China where DTY 70D/24F SD falling by a cent, while prices of Nylon Chips continued its stable trend, excepting a couple of specification in the China market where the local prices increased $13 to $3,197 a ton for SD high speed spinning variety, while Conventional Spring Chips closed at $3,157 a ton.
ASF prices in India moved downwards for the respective grades, while elsewhere prices just rolled over its previous weeks numbers. In India, 1.5D/38 mm PSF got quoted at $2.62 a kg while 0.9D PSF got quoted at $2.67 a kg, all falling 8 cents or about 2.8%. Also Acrylonitrile and propylene remained steady in the week.
Viscose staple fiber and Viscose Filament Yarn both fell across all grades in India while remaining at the same level elsewhere. VSF Prices in benchmark China market was quoted at $2.68 a kg up 2 cents and in Pakistan it rose by a cent. VFY Prices in India weakened by 10-13 cents across grades respectively.
The Cotlook A index fell 2.2% to $1.46 a kg, while cotton futures in New York fell 6.9% or 9 cents while in India, it fell across grades, among which the Shankar 6 variety saw a fall of 5.6% to $1.37 a kg and also plunged in Pakistan over 6%.
For detailed analysis on fibers and feedstock please refer to YnFx Weekly PriceWatch Report. Call us on + 91 22 66291120 or write to us at mini ( @ ) ynfx dot com to get a detailed report.
