Polyester chain feedstock prices weaken-up for the week ending 14th December

India. (SANEPR.com) December 19, 2007 -- Middle East OPEC prices firmed up in the week on lower stock piles. OPEC oil basket increased by US$3.90 to US$88.94 a barrel. Europe Brent spot was quoted at US$90.54 a barrel higher by 1.15 a barrel whereas USA light was stable at US$88.92 a barrel. Far East Crude oil was also quoted stable at US$83 a barrel level.

Naphtha in Japan market remained stable in the week at US$844 a ton, while in the Mediterranean it increased by about US$22 to US$828 a ton. Naphtha contract prices from the 2nd half of January, all increased by over US$50 a ton respectively. Jan – 2008 Singapore swaps increased by US$48.50 a ton to US$848 a ton.

PSF cash prices across the markets of China fell by 2-4 cents. 1.4D/38 mm SD in Jingsu / Zheijang fell 2 cents to US$1.59. However, the same spec at Delivered terms got quoted at US$1.68 a kg. 1.4D/38 mm SD in Taiwan and Korea was quoted at US$1.42 a kg and in India was quoted at US$1.60 a kg. PFY prices in Malaysia and Indonesia spurted upto 11 cents in the week. POY 75D in Malaysia got quoted at US$1.60 a kg higher by 5 cents.

Ethylene prices in most markets remained stable excepting in SE Asia where Ethylene got quoted at US$1,230 a ton, CFR lower by US$80 a ton. Paraxylene prices in the week moderately fell by US$5 in Asia and Europe. Paraxylene prices in the Europe and SE Asia got quoted at US$1,030 a ton while in China it was at US$1,120 a ton. Paraxylene prices in Korea was unchanged

MEG prices declined in the week due to week buyer interest across market. Front month offer in Korea and Taiwan was quoted at US$1,550 a ton, FOB decreasing by US$70. PTA prices in the week remained stable along with paraxylene prices in the week. PTA offers in Korea/Taiwan fell US$5 to US$840 whereas in China, goods in bonded areas and Mainstream prices remained stable. Polyester Chips prices in China remained mixed declining for both super bright and super dull filament grade.

NFY prices in the week increased across markets. In Korea prices increased by 5 cents for respective specs, while in China NFY prices had mixed movement. POY 20D/1 SD in India was at US$6.02 a kg higher by a cent. Propylene prices in China increased 2 cents. 1.5D 38 mm spec increased 3 cents to US$1.75 a kg while other specs also increased by 2 cents. Polypropylene prices in Turkey remained unchanged in the week.

Benzene prices in the week plunged across markets. Benzene prices in US Gulf and Europe was lower by US$20-40 in the week. Benzene prices in Korea were at US$963 a ton, FOB. Caprolactam prices in FE Asia and SE Asia was quoted at US$2475 a ton. Imports in China from Japan increased to US$2,480 while imports from Russia fell US$2,450 a ton while Nylon Chips prices in the week jumped in across markets. SD high speed spinning in SE Asia was at US$2,720 a ton CIF, while in China, Nylon Chips local prices increase US$131 to US$3,433 a ton.

1.5D/38mm ASF mainstream offer in China was at US$2.44 a ton whereas in Taiwan was at US$2.25 a kg, and in India was at US$2.77 a kg. Propylene prices in Korea in the week remained stable at US$1,115 a ton. Propylene prices in the week last week moderately increased across most markets by about US$5-15 in China, SE Asia and Taiwan, Japan. Acrylonitrile in the week remained across markets except in North China which saw an increase of US$15 to US$2,171 a ton Acrylonitrile in India was quoted at US$1,900 a ton, FOB.

VFY prices in the week rose in most markets of China while inching upwards by a cent in India. 75D bright and dull in China was at US$7.33 a kg up 5 cents. 150D bright in India was quoted at US$4.73 a kg and in China was at US$4.55 a kg. VSF prices in India remained stable in the week. 1.2D bright was offered at US$2.87 a kg while 1.2D dull was offered at US$3.05 a kg. 1.5D/38 mm prices in China was at US$3.01 a kg, higher by 2 cents.

Cotlook A index increased 3 cents to US$1.53 a kg while New York Futures most traded contract was at US$1.43 a kg as compared to last weeks December month contract price of US$1.28 a kg. China cotton index inched up moderately by a cent, whereas in India most specs prices fell moved by with fresh arrivals.

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