Polyester Prices Soften

Crude Oil
This week oil rose to average just below US$73 a barrel, lifted by slightly better than expected GDP and jobs data out of the United States. However, it was still range bound between US$70 and US$75 for the week. Oil ministers of Qatar and Kuwait have urged OPEC to keep crude production targets unchanged as economies struggle to recover from a recession when they meet on 9 September. Crude futures have gained 59% this year in New York, rising to a 10 month high on 25 August on signs economic growth will raise energy demand. By the end of the week WTI for October delivery was however down 1.5% or US$1.15 at US$72.74 a barrel on the Nymex compared to the corresponding number a week ago. Similarly, the European Brent for October closed at US$72.79 a barrel, down US$1 1 40 (1 9%)

Polyester Chain: Sluggish Trend
Rising naphtha cost and many crackers shut‐down for maintenance and better‐than‐expected demand for ethylene derivative drove ethylene prices across markets in Asia, Europe and USA. They were up Euro 40 a ton in Europe while USG numbers gained US$20 a ton. In Asia ethylene was dearer by US$15‐20 a ton. Contrary to this paraxylene prices drifted down as producers struggled to generate margins amid waning downstream demand Prices declined by almost US$40‐50 a ton in Asia and Europe. With demand saturating MEG and PTA prices continued to ease in Asian markets. This weakening held no support to polyester chips markets and prices rolled over previous week’s numbers while China reported decline in prices of super bright chips. Prices of POY in China and DTY in Pakistan saw some upward movement while other PFYs were stable in Asian markets, rolling over previous week’s numbers. Polyester staple fibre prices continued to soften in China while they were up in Pakistan. Market sentiments were weakening given the uncertainties over feedstock cost and resistance from downstream.

Nylon Chain: Input Cost Down
The fall in benzene prices which began in the mid‐August just like they moved up quickly in July continued as selling interest was widespread and the market was long. Asian suppliers were hoping to export benzene to USA and Europe where prices although falling were higher than Asian numbers. Low buying interest and falling benzene prices resulted in Asian CPL price declining by almost 5% this week. The softening of caprolactum prices quickly reflected in nylon chip prices in China. Producers too reduced their offers to pass‐on the benefit of lower input cost. FDY prices remain firm this week as nylon chips prices were still high. However, falling input costs checked producers from any price rise. POY and DTY prices were steady.

Acrylic Chain: ASF Cheaper
Propylene prices eased again in Asia and Europe but rose in USA on aggressive demand. Supply was tight as FCC had reduced propylene operating rates due to high crude oil prices. Despite the softening, acrylonitrile prices increased further in Asia on expectation that demand will increase aggressively in September. Acrylic fiber market was steady‐to‐weak with demand hard to pick‐up. Prices edged down but are likely to move up as the slack season ends entering September.

Viscose Chain: VSF Gains on Downstream Sentiments
Wood pulp supply continued to remain tight and offers were hard to come. Prices rolled over previous week’s numbers. Viscose staple prices gained 2 cents a kg in China while those in India and Pakistan were steady. However, Indian VSF was cheaper by 1cent as INR depreciated against the US$. In China prices were well supported by aggressive downstream rayon spun yarn market where prices were up 2 cents a kg. Viscose filament yarn prices were steady rolling over previous week’s numbers. However, downstream demand was hard to pickup.

Cotton: Prices Down

Cotton prices weakened further in Asia as the week ended with Cotlook ‘A’ index down from 63.15 cents per pound to 62.05 cents a pound this week. Prices in China and India too declined. However, Pakistan cotton was dearer as supply against demand remained under pressure. In China, the cotton index lost RMB97 compared to last week. In Pakistan, spot rate in the Karachi cotton market was up by PakRs.25 while prices of most varieties of Indian cotton declined while some rolled over previous week’s numbers.

For complete report on price trends of fibers and intermediates please visit us at : http://www.yarnsandfibers.com/textile-pricewatch/price-trends.php3 or call us at +91 22 66291000

India Spun Yarn Export - May Review

The overall rise on global commodity prices and weakening of the dollar took a toll on Indian yarn exports in May 2008. Added to this were the fueling domestic prices of cotton and other raw material made Indian goods dearer. Raw cotton prices were up 19% in May compared to January 2008. They were a whopping 28% higher than last year. In similar comparison, cotton yarn prices moved up 11% since January and that of Man-made fibers increased at a moderate 2%. All these factors have made Indian yarn uncompetitive in global markets particularly the USA markets.

Yarn exports declined 10% in May from their April 2008 levels. Export volume totaled 51,948 tons during the month. Unit price realization averaged US$ 2.88/kg dropping 12 cents a kg. Major declines were seen in export of viscose yarn followed by PC and polyester yarn. Cotton yarn exports too dropped 6.67% in May. The average price realization of cotton yarn was US$ 2.86 /kg, that for PC yarn was US$ 2.43 /kg and for viscose yarn it was US$ 3.33/kg. Average price realization of polyester yarn was US$ 2.76/kg and for PV yarn was US$ 3.03/kg.

Among major destinations, Brazil was the major importer followed by Bangladesh, Egypt and Korea. Brazil imported 5,582 tons of yarn at an average price of US$2.80/kg. Exports to Bangladesh declined by 26%, whereas that to Egypt and Korea increased. Bangladesh imported 5,252 tons of yarn in May at an average price of US$ 2.80 /kg. Egypt and Korea imported 4,171 and 4,148 tons of yarn respectively.

The detailed export analysis from India on Spun yarn for top count is available at Yarn Export Watch or you call us at +91 22 66291122 to get a free copy of the report

Spun Yarn Exports from India in April 08

Yarn exports from India in April 08 were around 56 thousand tons, down by 7.2% compared to previous month. Major declines were seen in cotton and PV yarn exports. Of the total yarn, almost 77% accounted for cotton yarn. Cotton yarn exports plunged 10% to 43,391 tons during the month. It was followed by PC and Viscose yarn with around 3,391 and 3,348 tons of exports respectively. PV yarn exports also saw a major drop of 27% in April with exports at 1,823 tons.

The average price realization of cotton yarn was US$ 2.98 /kg, that for PC yarn was US$ 2.47 /kg and for viscose yarn it was US$ 3.78/kg. Average price realization of polyester yarn was US$ 2.71/kg and for PV yarn was US$ 3.11/kg.









Top 10 counts exported from India
Among the top 10 counts, all were the cotton yarn except for 30/1 viscose yarn. 30/1 cotton yarn was the top count followed by 40/1 and 20/1. Exports of 30/1 cotton yarn were around 12,551 tons in the month of April and the average realization price stood at US$ 2.66/kg.

COTTON YARN EXPORTS FROM INDIA
Yarn export from India declined 7% in April 2008 from the March 2008 levels. A total of 55.97 thousand tons of yarn was exported during the month, of which, cotton yarn was around 43 thousand tons. Thus, cotton yarn accounted for over 70% of total yarn export. Bangladesh continues to be the largest importer of Indian cotton yarn. Korea, Egypt and Brazil were the next top importers of Indian yarn.

The detailed report covers analysis of cotton, polyester, viscose spun yarns and the blends as well. The information is part of YnFx Yarn ExportWatch report and for your copy of the detailed report please write to : sales@ynfx.com or call us at +91 22 66291122

COTTON YARN EXPORTS DECLINE IN APRIL AVERAGE REALIZATIONS REMAIN STEADY

Yarn exports from the major ports of India were at US$55,973 ton declining by about 7%.due to decline in Cotton and PV yarn exports. This was after a 19% jump in exports in March. The rupee again strengthened in April, moving below Rs 40/US dollar and thus shrinking margins.

43,428 tons of cotton yarn was exported in April, lower by 10% while PV yarn exports further declined 27% to 1,823 tons. Polyester yarn exports which had declined in March by 29% reversed its trend and increased 27%. Viscose yarn exports increased at a rate of 7% after jumping 43% last month and were at 3,348 tons. PC yarn exports increased 11% to 3,391 tons. Of the 111 tons of Dyed yarn exported, 45 were Viscose dyed and 39 were PV dyed.

Average realized price for cotton was steady at US$2.98/kg while the average price of viscose yarn declined 8 cents to US$3.78/kg. PC and Polyester yarn prices averaged at US$2.47/kg and US$2.71/kg. PV yarn average prices however increased 15 cents to US$3.11/kg.

Bangladesh was the biggest importer of Indian yarn followed by Brazil and Turkey, though exports to Bangladesh, Turkey and South Korea declined. Exports to Bangladesh declined 28% and to South Korea declined 30%. The average prices paid by Bangladesh buyers was US$2.83/kg, lower than the average price. The highest price among the major importers was paid by Italy, paying US$4.91/kg followed by Belgium and Germany.

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Synthetic Yarn Exports - Textile Industry

During March, 3,125 tons of viscose yarn and 2,196 tons of polyester yarn were exported. While exports of viscose yarn increased 34% (after declining in February), those of polyester yarns declined dramatically by 34%. However, unit value realization increased for both the yarn types. Belgium was the largest importer of viscose yarn with a volume of 950 tons. The second largest was Italy with 340 tons. Together, these destinations accounted for 40% of viscose exported from Indian. They also accounted for 60% of incremental exports between February and March 2008.

Polyester yarn exports slumped in March in comparison with February volume. Turkey was the largest importer, importing 592 tons. The other major buyers were Brazil, Egypt and United States of America. 30/1, 20/1 and 12/4 were the top three counts exported.

Blended and Speciality Yarn Exports (Grey, dyed & mélange)
About 3,050 tons of polyester cotton and 2,501 tons of polyester viscose (PV) yarns were exported in March. While exports of PC yarn increased 1% that of PV yarns declined 17%. Unit value realization was stable at US$2.97/kg for PV while it increased by 10 cents in case of PC yarns. The major buyers of Indian PV yarn were Turkey (590 MT), Brazil (469MT}, Syria (221MT) and Argentina (215MT) and these four countries made up 60% of the total Polyester – Viscose yarn export. 30/2, 30/1 and 24/1 were the major counts exported in PV yarn.

Specialty yarn export increased by about 12% in March with export volume of 2,373 tons. Compact yarn export increased by 11.7% in terms of volume while unit value realization was up 21 cents a kg. Export of gassed yarn almost doubled to 535 tons in March with average unit realization declining 26 cents a kg. While organic yarn exports declined 31% that of core spun yarn increased 36%.

The detailed report covers the export analysis of cotton, polyester, viscose spun yarns and the blends as well. The information is part of YnFx Yarn ExportWatch report and for your copy of the detailed report please write to sales@ynfx.com

Spun Yarn Export from India - Textile Industry

Exports of Spun Yarn from India in the month of March 08

Total yarn exported from India in March jumped by about 20% to a little over 60 thousand tonnes, up from 50,500 tonnes of total quantity in February. The month of March was also favorable on the exchange rate side, as rupee averaged above Rs 40/ dollar and reaching the levels of Rs 40.50/US$.

Bangladesh again figured as the biggest importer of Indian yarn importing approximately 6,500 tons at an average price of US$2.86, steady at last month’s level. Approximately 5,500 tonnes of yarn was exported to Korea and Turkey. Exports to Turkey, Brazil and Italy saw a steep increase in their realization whereas yarn exports to Egypt and Peru saw a decline in their realizations.

Overall Cotton Yarn Exports (All types)
A little over 48 thousand tons of cotton yarn was exported 84 countries at an average price of US$3/kg. This is higher by 25% over February cotton exports whereas average price increased by 7 cents. Bangladesh was the largest buyer of Indian cotton yarn, importing a quantity of about 6,000 tons at an average price of US$2.86/kg. Approximately 5,500 tons were exported to South Korea and 3,500 tons were exported to Turkey, Brazil and Peru each.
The top 30/1, 40/1, 24/1 and 20/1 were the top counts and however average price increased for most specs. Quantity exported of 40/1 and 24/1 increased by 700 tons. Price of 30/1 increased by 7 cents, for 40/1 increased by 11 and 20/1 increased by 10 cents, but of 24/1 decreased 3 cents.
For complete analysis on the monthly spun yarn exports from india please read:
YnFx ExportWatch Report