Polyester filament prices continued rising over the weekend in China, although raw material costs began easing. There is no clear price direction for raw materials, especially paraxylene, while crude oil prices are obviously falling.
Polyester filament prices continued today rising in China with POY up 50 yuan on Qianqing's market while FDY and DTY gained 100 yuan per metric ton.
Such an increase is obviously reflecting the recent surge in raw material costs of polyester producers. A consecutive drop in China's polyester production is also fueling the current rise.
PX again on the rise
PTA and MEG prices began however declining in the past days, with domestic prices losing 50 to 100 yuan per metric ton.
PTA producers could take advantage of lower costs after prices for mixed xylenes and paraxylene began last week receding, market analysts said.
Probably due to continued tight supply in Asia, PX is actually resisting any strong decrease. Spot prices rebounded over the weekend with PX CFR Taiwan back to US$1,249-1,251 per metric ton after sliding to US$1,244-1,246 by last Thursday.
Jump in PSF yarn prices
The recent rise in PSF costs in China boosted polyester spun yarn prices.
Spun yarns entirely made from polyester staple fibers rose between 400 and 800 yuan per metric ton in the past two weeks, depending on counts and markets.
Lower crude prices
Oil is now sliding towards US$68 per barrel. The New York market is anticipating some agreement between Iran and the permanent members of the UN Security Council plus Germany.
