Polyester markets driven by cost in April 2024

During April 2024, the polyester market in Asia were mainly driven by cost support emanating from the over 5% month on month jump in crude oil futures. Its cascading effect was seen in naphtha, ethylene, paraxylene and through purified terephthalic acid and mono ethylene glycol. Both polyester fibre and polyester yarn values surged during month as purified terephthalic acid was dearer by over 2% while mono ethylene glycol was equally cheaper.

Following were the average prices of polyester fibre in April

[China]

Prices for 1.4D direct-melt polyester staple fibre in Jiangsu and Zhejiang were raised to 7.32-7.46 Yuan/kg (US$1.03-1.05 a kg, up US cent 1), while in Fujian it was at 7.46-7.55 Yuan/kg (US$1.05-1.06 a king, up US cent 1) and Shandong was at 7.40-7.50 Yuan/kg (US$1.04-1.06 a kg).

[Taiwan]

Prices for 1.4D were up US cents 5 at US$1.15/kg FOB.

[Pakistan]

Prices for 1.0-1.2D PSF were up by PakRs 0.25 to PakRs.366-368/kg (US$1.32 a kg).

[India]

Prices for 1.4D was up by INR 1 at INR108.50/kg (US$1.30 a kg) and similarly for 1.2D the prices were raised by INR 1 to 109.25/kg (US$1.31 a kg)

Following were the average prices of polyester yarn in April

[China]

Polyester yarn prices for 32s were raised to 11.30 Yuan/kg (US$1.66 a kg, up US cent 1) while 21s were stable at 11.30 Yuan/kg (US$1.59 a kg). While the prices for the 45s, 50s and 60s were 14.50 (US$2.04), 15.60 (US$2.20) and 16.00(US$2.25) Yuan per kg respectively.

[Pakistan]

Polyester yarn prices for 30s were at PakRs245.50/pound (US$1.95 a kg). While the prices for 20s and 60s were 227.70(US$1.80) and 272.70(US$2.16) PakRs per pound respectively.

[India]

Polyester yarn prices for 30s were up by INR 3 at INR150/kg (US$1.80 a kg) in Ludhiana market.

SOURCE: Global Markets Weekly Review report