China Polyester Market Declines While in India Domestic Manufacturers Enjoy Firm Pricing
- 25-Mar-2022 5:13 PM
- Journalist: Li Hua
The price trend of Polyester staple fiber and Polyester filament fiber in the Asian market has been mixed owing to the differences in the demand from different countries. The Chinese market was seen dull with low market sentiments from the downstream apparel industry. At the same time, the Indian market flourished with a growing consumer shift towards sustainable fashion due to rising environment-consciousness. The polyester used in the apparel industry is composed of three types of Yarn, including Polyester Filament Yarn (PFY), Polyester Staple Fibre (PSF), and Viscose (mainly cotton).
In China, the raw material PTA and MEG value fluctuated with the crude price changing consistently in the last few weeks. As of March 25, the prices for PFY and PSF are weak besides rising inventories in the domestic market. The resurgence of Covid in China has further dampened trading and shipping activities as the container freight charges witnessed another gain since the beginning of March 2022. Furthermore, the Russia and Ukraine conflict has led to poor demand for exported cotton and sluggish yarn transactions, which has caused the price for Polyester Filament Yarn at 150D/48F and Polyester Staple Fibre to settle at USD 1314 FOB-Shanghai & USD 1329 FOB-Shanghai, respectively.
Fujian, the south-eastern coast of China, decreased its price for Pure polyester yarn between 2090 USD/Ton- 2122 USD/ton. Meanwhile, the restricted port activity at several places of northern coastal provinces caused the price trend of Yarn to decline. The recent price rested at 3143USD/ton at Shandong. Along with the shifting price trend of polyester Yarn, the US and Indian market bloomed in the domestic market, showing upward movement in price. Therefore, PSF and PFY prices reached INR 108550/ton & INR 139450/ton in March 2022.
According to ChemAnalyst analysis, “the price for Polyester staple fiber and polyester yarn would keep surging amidst the increasing usage of polyester staple fiber as a substitute for cotton. The APAC region will dominate the market with higher demands lined up in the coming weeks.”