Cotton prices hiked substantially, Cotlook A index rising by 5 cents

PRLog (Press Release) – Jan 24, 2008 – Crude oil in the week declined further in Europe and USA while staying stable in Asia.
Europe IPE brent was down US$3 to US$90.62 while Nymex Futures were at US$93.05 a barrel. Traders in America were concerned and confused about America’s recession, pulling oil down. The Middle East OPEC basket was traded at US$90.955 a barrel while Far East Asia was at US$87.89 a barrel.

Naphtha prices in Japan has stabalised at the US$870 level Naphtha in Mediterranean and Singapore declined US$15 and US$25 while in India domestic prices were raised. Far East contract trading and Singapore swaps were not traded due to the ongoing holidays.

PFY prices in the week in Malaysia and Indonesia remained stable while in Pakistan and China increased by a cent. POY 75D in Malaysia & Indonesia was at US$1.60 a kg. In India, POY prices remained stable in the week. 1.4D/38 mm SD in China was steady at US$1.64 whereas across markets in China, it got traded in the range of US$1.56 – US$1.58 a kg. In Taiwan and Korea, it was at US$1.40 and Pakistan it was at US$1.43 a kg.

Polyester Chips in China local market moved further up.  Cont polymerised (SD, fil grd) was at US$1,463 a ton.  While Taiwan saw a steady market.  Polyester Chips in Pakistan increased by about US$7 to US$1,235 a ton. MEG prices carried on with its decline.  Front offer in Korea and Taiwan was quoted at US$1,250 a ton. In China, Buying Ideas was quoted at US$1,200 a ton lower by US$100.

MEGlobal’s Asian nomination and Shell’s nomination were steady while Sabic’s nomination price was reduced by US$100 to US$1,490.PTA in the week was near stable in Asia. PTA offers in Korea and Taiwan was quoted at US$860 a ton. In China, imported goods were at US$850. Domestic producers in China priced PTA at US$1,007 and some major Chinese suppliers kept their prices unchanged.

NFY prices in weakened in the week. POY 20D/1 SD was at US$6.03 a kg. NFY prices in Korea was steady. NFY prices in China increased by a cent in the local market for some of the specs. Polypropylene prices inched up by a cent in China. 1.5D 38 mm in China local market was at US$1.73 a kg while other specs were in the range of US$2.28-US$2.72 a kg. for respective specs.

Nylon Chips in SE Asia and imported Nylon Chips in China remained steady while specs in the local market increased by about US$10. Nylon Chips in Henan Shema also increased with similar magnitude. Caprolactam in the week saw moderate movement. In FE Asia and SE Asia, caprolactam got priced at US$2,415 a ton while in China, Caprolactam imports from East Europe increased US$30 to US$2,470 a ton.

Acrylic staple fiber, 1.5D/38mm in China inched up by a cent to US$2.53 a kg while in Taiwan was at US$2.25 a kg. In India, the spec fell by a cent to US$2.77 a kg. 3D Mitsubishi Rayon contract price was unchanged at US$2.4 kg. Acrylonitrile prices North China inched up further by US$5 a ton to US$2,070 a ton while else where it remained constant.

VFY prices in China inched up to a couple of cents for respective specs. 75D bright and dull in China local market was at US$7.45 a kg   In India, prices declined by a cent across specs. 10D bright in India got quoted at US$5.93 a kg. VSF price in India declined by a cent in the week 1.2D dull was at US$3.05 while 1.5D-2.0D dull was US$2.95 a kg. 1.5D/38 mm in China was at US$3.01 whereas 1.5D in Pakistan was at US$3.05 a kg.

Cotton fiber prices increased substantially across markets. Cotlook A index increased 5 cents in the week, whereas Nymex cotton futures jumped 11 cents. China cotton index inched up by a cent. Indian cotton prices were also bullish, and standard Shankar 6 prices increased 4 cents to US$1.51 a kg.

For detailed report on trends of fibers and raw materials please contact us at + 91 22 66291120 or write to us sales@ynfx.com