6 February 2017
Polyester chain prices were being raised at the end of last week, as producers were returning from Chinese new year holidays. Market prices will be again supported by relatively tight supply in the coming period in Asia, whereas demand for polyester fibers will remain strong. Our weekly report covers the polyester chain in Asia, including PX (paraxylene), PTA (purified terephthalic acid), MEG (mono-ethylene glycol), polyester chips, and polyester staple and filament prices. Asian Contract Prices (ACPs) are also available for the PX, PTA and MEG markets in Asia, with 5-year charts and downloadable historical data.
Polyester chain prices have clearly risen in the first working days after Chinese new year holidays.
Spot paraxylene prices have been up 7$ to 10$ per metric ton on Monday, from their level seven days earlier (+ 0.8%).
PTA and MEG prices have respectively gained 5$ and 8$ from a week earlier, or less than 1%.
The upward trend is obvious after inventories have been kept at low level in the polyester pipeline.
Polyester fiber producers will easily raise their prices in the coming period, in line with an expected increase of their material costs.
Demand for polyester fibers remains strong, as a result of a current surge of cotton prices boosting polyester use at spinning mills.
Price offers for both staple fibers and filaments were therefore being raised on Monday.
With crude oil prices staying very firm, as a result of an overall agreement of world producers, there is no reason to expect a fall of polyester chain prices in the coming weeks.