market watch synopsis aug 02 2012

7/31/2019 Market Watch Synopsis Aug 02 2012

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Crude Oil

In the last fortnight, price of Crude oil increased. Inthe beginning of the last fortnight, selling offers forCrude oil increased, as value of U.S.A greenback

declined and Oil price shoot up, as speculators findsafe investment in dollar denominatedcommodities. In the second half of the lastfortnight, selling offers for Crude oil opened withfirm sentiment. Crude oil speculators maintainedtheir level, as tension in M E Asian continued andinventories level at U.S.A stocks declined.

Naphtha

In the last fortnight, price of Naphtha went up witha support of strong demand. During the first half ofthe last fortnight, Naphtha price in Asian markets

were firm because of robust demand for cargoesfrom Japan and Korea. By the end of the first halfof the last fortnight, selling offers for Naphtha firmup with a support of Crude oil prices. Naphthaprice remained firm in the second half of the lastfortnight, but it lost the robust momentum. A lack ofdemand from Asian market was a major reasonbehind slow down in European Naphtha market.

Paraxylene

In the last fortnight, selling offers for PX went up

with a support of favorable market fundamentals.In the beginning of the first half of the last fortnight,selling offer for PX increased in the Asian region,due to tight availability and robust downstreamdemand. By the end of the first half of the lastfortnight, PX prices turned volatile in the globalmarket, but easily sustain at higher level. In thesecond half of the last fortnight the selling offers forPX remained weak in the global market.

Purified Terephthalic Acid

In the last fortnight, selling offers for PTApresented mixed trend in the global market. In

beginning of the last fortnight, selling offers forPTA opened with firm sentiment as sellersincreased their offer prices of PTA. In the secondhalf of the last fortnight, PTA market opened with aweak sentiment, which firmed up gradually. In the

beginning of the first half of the last fortnight, PTAprices continued to move down. By the end of thelast fortnight, price of PTA went up in global marketdue to robust demand from the downstreammarket.

Ethylene

In the last fortnight, selling offers for Ethylene wentup. In early first half of the last fortnight Ethyleneprices went up in the global market. By the end ofthe last fortnight, prices of Ethylene declined in the

global market. In European market, selling offersfor Ethylene improved because of favorablemacroeconomic outlook. In the second half of thelast fortnight, Ethylene prices remained firm inglobal market. In Asian market, selling offers forEthylene improved due to ease of macroeconomicaspects.

Monoethylene Glycol

In the last fortnight, selling offers for MEG went upat slow and steady pace. In the beginning of thefirst half of the last fortnight, MEG price went up in

Asian markets due to tight availability and robustdemand. Market sentiment in MEG firmed up withthe help of firm contractual offers for August.Speculators were optimistic for short term pricerally at the end of the first half of the last fortnight.In the second half of the last fortnight, MEG pricesopened with weak sentiment.

(July 15 - 31, 2012)
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PET Chips

Polyester chip market followed an upward trendand prices went up in the last fortnight in the Asian

region in USD based market. In the beginning ofthe first half, polyester chip prices surged up withimproving market sentiment. Then towards the endof first half, polyester chip market weakened withsoftening feedstock market. Trading activitiesremained lackluster during that period. Polyesterchip market was relatively stable and pricesremained steady in USD based market during thesecond half of this last fortnight in the Asian region.

Polyester Staple Fibre

Polyester staple fibre market followed an upwardtrend in the Asian region in USD based marketduring the first half of this last fortnight. Polyesterstaple fibre prices surged up but downstreambuyers were reluctant to accept offer during thatperiod. Producers mainly focused on de-inventoryamid weak market fundamentals. Polyester staplefibre market remained stable during the secondhalf of this last fortnight in the Asian region in USDbased market.

Polyester Filament Yarn

Polyester filament yarn market followed an upwardtrend in this time in the Asian region in USD basedmarket. Polyester filament yarnmarket kept stablein the early days of the first half, which moved up

towards the end as feedstock market bounced upduring that period. Polyester filament yarn marketmaintained a stable tone during the second half ofthis last fortnight in the Chinese domestic market.Polyester filament yarn prices were relatively

stable in the Chinese domestic market during thesecond half of this last fortnight.

Propylene

During the last fortnight, offers for Propyleneremained soft. In the early first half of the lastfortnight, Propylene price opened with a robustsentiment. But softer demand trend did not allowedsellers to steer price ahead. During the second halfof the last fortnight, Propylene price remainedrange bound as energy market turned soft, but theavailability was kept tight. In Asian market,

Propylene price declined mainly due to ample ofavailability according to market experts.

Acrylonitrile

In the last fortnight, Acrylonitrile market went up atslow and steady pace. In the early first half of thelast fortnight, ACN market opened with warmsentiment as feedstock price remained high. At theend of the first half of the last fortnight, ACN priceremained firm at higher level due to supplyconstraints. Import of ACN cargoes was quitelimited. In the second half of the last fortnight,

selling offers for ACN remained firm with the robustsupport of feedstock market.

Acrylic Staple Fibre

Acrylic staple fibre market remained stable andprices were steady in the Asian region in USD-based market. Acrylic staple fibre market improvedsomewhat in line with feedstock market during thefirst half of this last fortnight. Trading conditionsturned better due to the recovery of feedstockprices and domestic fibre market. Acrylic staple

fiber import market followed an upward trendduring the second half of this last fortnight.Producers increased the offer prices of Acrylicstaple fibre during that period.

(July 15 - 31, 2012)


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Polypropylene

In the last fortnight, selling offers for Polypropylene

went up with the support of feedstock market. Inwestern markets also, PP price increased mainlydue to robust price of basic raw material. In thesecond half of the last fortnight, PP Raffia marketcontinued its journey to north. PP marketsentiment was firmly supported by energy andcommodity market. In U.S.A market, selling offersfor PP Injection grade was firm with the help of firmfeedstock and tight availability. PP sellers werequite happy as markets regain level around lastJune.

Benzene

During the last fortnight, Benzene market went updespite of highly volatility. In the last fortnight,Benzene price almost touched the level of averageprice in April month but could not sustain.According to market speculators, the slowdown inU.S.A market was responsible for volatility inmarket. During the second half of the last fortnight,Benzene price opened with lackluster sentiment.Prolong weakness in U.S.A market was mainly dueto subdued buying and weaker marketfundamentals.

Caprolactam

In the last fortnight, selling offers for CPLincreased. In the first half of the last fortnight, CPLprice went up mainly due to firm support fromfeedstock market. In Chinese market, most ofdeals were concluded for the imported goods only,

but trading volume remained moderate. In thesecond half of the last fortnight, CPL priceremained firm as imported cargo retained costlieroffers. During the second half of the last fortnight,pessimistic sentiment developed in the marketwhen feedstock declined.

Nylon Chips

Selling offers for Nylon Chip increased at slow andsteady pace during the last fortnight. In the earlyfirst half of the last fortnight, offers for Nylon Chip

warmed up in Asian market as trading sentimentheated up in line with firm feedstock market. At theend of the first half of the last fortnight, sellers inNylon Chip market were free from inventoriespressure, whereas, buyers were searching goodsto maintain normal plant operations. Downstreambuyers of Nylon chip was still in bearish mood, butprice slowly grew because of moderate tradingvolume.

Nylon Filament Yarn

Nylon filament yarn market followed a downward

trend this time in USD based market in Asianregion during the first half of this last fortnight.Producers cut down the production and operatedat low capacity in order to manage inventory duringthat period. Sales slacked amid weak marketfundamentals during the first half. Nylon filamentyarn market continued to follow a downward trendand prices went down in USD based market in theAsian region during the second half of this lastfortnight.

(July 15 - 31, 2012)


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Cotton Linters & Pulp

In cotton linter market, prices remained mostlystable during the first half of this last fortnight in the

Chinese domestic market. Pulp demand willincrease with rising operating rates of viscosestaple fibre plants, so the price is expected tomove up later, but the increase may be limited dueto dull performance of downstream textile industry.Some pulp producers probably increased theiroffers on the back of cost pressure and tightenedfeedstock availability.

Viscose Staple Fibre

Viscose staple fibre prices continued recoveringthis time in China and trading atmosphere also

remained relatively good. Viscose staple fibre pricewas relatively firm in the Chinese domestic marketsupported by low inventory, but the increase waslimited since downstream demand was not robust.It is expected that plants will revise up offersfurther and traded prices will also move up, but theincrease will depend on the improvement ofdownstream yarn market.

Viscose Filament Yarn

There has been no improvement in viscosefilament yarn market this time with prices trended

stable to soft given the decrease of export ordersas well as continued weakness in the Chinese

domestic market. There were no improvement inboth domestic and export market but thepessimistic sentiment was restrained somewhatdriven by rising viscose staple fibre price. Inventoryof viscose filament yarn plants went up marginally

due to poor sales but price was relatively stableand sales were moderate.

Spandex

In the last fortnight, selling offers for Spandexremained unchanged. In the first half of the lastfortnight, demand for Spandex from downstreamwas weak and low in volume. During the first halfof the last fortnight, Spandex market facedstalemate situation as sellers and buyer bothmaintained their position with expectation offavorable market price in future. In the second half

of the last fortnight, selling offers for Spandex didnot spurt up due to weak demand.

Cotton

Cotton prices remained relatively stable during thefirst half of this last fortnight in international market.In India, supported by good demand, limited goodsources and the estimated lower production,domestic cotton prices surged sharply. Bearishconditions have prevailed in the domestic cottonmarket in Pakistan. Production is likely to fall shortof previous estimates in India, as the irregularpattern of the monsoon is affecting crop prospects.

Wool

Wool prices followed a downward trend during thefirst half of this last fortnight in Australia. Buyers forChina were dominant, followed by buyers forEurope and India. Sales will be in recess in thesecond half of this last fortnight and resume in thefirst half of coming fortnight. In other countries,there were no sales in South Africa. There were nosales in Australia during the second half of this lastfortnight and sales will resume in the weekcommencing sixth of August.

(July 15 - 31, 2012)

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market watch synopsis aug 02 2012

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