market watch synopsis sept 02 12

7/31/2019 Market Watch Synopsis Sept 02 12

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Crude Oil

In the first half of the last fortnight, Crude oil priceremained firm as inventories with U.S.A declined,due to storm production remained uneven. Price

also inched up due to the statement against Iranby Israeli Ambassador, which increased thetension in the M E Asian region. In the second halfof the last fortnight, Crude oil demand remainedfirm due to stocking speculation and improveddemand from worlds largest energy consumingnations U.S.A and China.

Naphtha

Naphtha market opened with an optimisticsentiment, due to lack of availability across theglobal market. The supply from European and

Indian market was almost choked off. In thesecond half of the last fortnight, prices of Naphthagradually declined due to weak support from rawmaterial market, price of Naphtha also declinedand buyers adopted firm stance of wait and watchprior any large volume buying, as demand fromdownstream was still dicey.

Paraxylene

In the first half of the last fortnight, Paraxyleneprice opened with a firm sentiment in European

market, despite of ample regional availability,coupled with energy market, downstream demandand moderate regional buying interest. In thesecond half of the last fortnight in Asian region,price of PX opened with a firm sentiment, due tostrong support by downstream market, while inEuropean market, selling offers for PX improvedbecause of ease in macroeconomic fundamentals.

Purified Terephthalic Acid

Prices of PTA declined during the previousfortnight, as compared with the corresponding

period of the previous year. In the global market,prices of PTA opened with a stable sentiment,which gradually increased due to strong supportfrom the downstream market. In the first half of the

last fortnight in Asian markets, speculators wereactive but buyers were highly cautious due toglobal uncertainty. Selling offers in Asian market inthe second half of the last fortnight increaseddueto firm demand and improved regional buying

interest.

Ethylene

Ethylene prices opened with a stable sentiment inglobal markets, which gradually increased due tostrong support from the downstream market. InAsian market, selling offer for Ethylene inched updue to firm energy and feedstock market, while inEuropean market, selling offers improved due tofavourable macroeconomic outlook. In the secondhalf of the last fortnight, Ethylene market remained

firm mainly due to firm energy market and robustdemand from polymer market.

Monoethylene Glycol

Prices of Monoethylene Glycol declined during theprevious fortnight, as compared with thecorresponding period of the previous year. In thefirst half of the last fortnight in Asian markets, priceof MEG inched up mainly with a support of firmenergy in market. In the second half of the lastfortnight, MEG price surged up due to tightavailability and firm downstream demand.In Asian

markets, MEG price increased mainly with asupport of firm energy market, bullish polyesterfeedstock price and improved demand.

(August 15 31, 2012)
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PET Chips

In the first half of the last fortnight, tradingsentiments of PET Chips remained lackluster and

buying momentum was thin. Downstream buyerskept wait-and-see stance amid unfavorable marketsituation. Towards the end of the second half,prices surged down due to weak support from thedownstream market. PET bottle grade chip exportmarket surged up in line with strong feedstockmarket. In Europe, PET Prices inched up due tostrong support from the feedstock market.

Polyester Staple Fibre

Polyester staple fibre market followed a downward

trend during the first half of the last fortnight.PSFmarket maintained a weak tone due to weakdemand from the downstream market and pricesinched down in line with weak feedstock market.During the second half of the last fortnight, PSFmarket followed an upward trend in the Chinesedomestic market.PSF prices increased due to firmfeedstock market and tight supply in the Chinesedomestic market.

Polyester Filament Yarn

In the first half of the last fortnight, Polyester

Filament Yarn market remained stable-to-soft. Inthe Chinese domestic market, prices of PFYdeclined due to lack of support from downstreammarket. Downstream buyers were cautious andmainly purchased on hand-to-mouth basis. In thesecond half of the last fortnight, PFY marketremained stable. Downstream buyers werecautious and kept wait-and-see stance amidmoderate trading sentiments. Some producersoffered discount in order to balance inventoryduring the same period.

Propylene

During the first half of the last fortnight prices ofPropylene increased due robust energy and firmsupport by downstream markets. Buying

sentiments in F E Asia, Europe and U.S.A marketimproved, which triggered prices of Propylene. In FE Asian markets, price remained firm due tounplanned outage at Mitsuis Chiba cracker.Propylene price continued to move up in the

second half of the last fortnight, as downstreamplayers successfully pass on the price hike ofPropylene to their downstream producers.

Acrylonitrile

Prices of Acrylonitrile inclined up due to firmdemand from downstream industries. In Chinesemarket also, fundamentals remained firm despiteof bearish macroeconomic cues across thecountry. ACN market slowly firm up as most of thetraders and sellers hold the material tightly andwithdraw selling offer with expectation of better

price in short term future. In the second half of thelast fortnight, demand from buyers for ACN wasmoderate, but highly optimistic sellers held thegoods very tightly and increased the pricesuccessfully.

Acrylic Staple Fibre

Acrylic staple fibre market followed an upwardtrend and prices increased during the first half ofthe last fortnight. ASF market improved in line withthe firm feedstock market and robust demand from

downstream market. In the second half of the lastfortnight, ASF market followed a stable trenddueto sluggish demand from downstream market.Despite of firm feedstock and optimistic marketsituation, prices maintained a stable trend asdownstream demand was not improved asanticipated.

(August 15 31, 2012)


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Polypropylene

In the first half of the last fortnight, prices ofPolypropylene increased mainly due to firm

commodity and bullish market fundamentals. InChinese market, selling offers for PP improved asdemand for most PP grade remained firm. Importof PP Raffia from M E Asian market continued toremained firm. In the second half of the lastfortnight, PP price increased sharply in line withraw material prices. In European and U.S.Amarket, price of PP Raffia went up mainly due toimproved demand and firm feedstock prices.

Benzene

In the last fortnight, price of Benzene continued toincrease with the help of revival in downstreamdemand. By the end of the first half of the lastfortnight, Benzene price in European marketincreased slowly because of firm energy rate. InU.S.A market, offers for Benzene declined slowlyas demand from plastic sector diminished. In thesecond half of the last fortnight, Benzene pricesended with a mixed sentiment. In Europeanmarket, Benzene price remained range boundmainly due to volatile macro-economy anduncertain future demand.

Caprolactam

In the first half of the last fortnight, prices ofCaprolactam went up and slowly improved as

demand was moderate, while feedstock marketwas caught in uncertainty. Reduction in rates bymajor financial institution improved the liquidity butmarket speculators remained highly cautious whiletrading. In the second half of the last fortnight, CPL

prices increased due to improved buying sentimentacross the global markets. CPL market receivedmoderate support from both upstream anddownstream markets.

Nylon Chips

Trading value and volume remained weak asmarket speculators adopted firm stance of wait andwatch, in the first half of the last fortnight.Traderswere quite cautious prior any buying, as marketexpected to exhibit mixed reactions. By the end of

the last fortnight, demand for Nylon Chip improvedslowly, but the overall trading volume remainedmoderate. Downstream converter still purchase thegoods to maintain their hand to mouth inventoriesonly against confirm orders.

Nylon Filament Yarn

In the first half of the last fortnight, Nylon filamentyarn market remained stable due to lack of supportfrom downstream market in the Chinese domesticmarket. Despite of support from the feedstockmarket, Nylon filament yarn prices remained

unchanged due to sluggish market sentiments.Due to lack of support from downstream market,prices of NFY remained stable in the second halfof the last fortnight. Producers reported highinventory and they curtailed production to manageinventory pressure.

(August 15 31, 2012)


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Cotton Linters & Pulp

Prices for linter softened during the first half of thelast fortnight in the Chinese domestic market.

Buying momentum remained moderate asoperating rates of downstream plants did not riseas expected before and suppliers expressedworries on new arrivals of cotton linter. ImportedDissolving pulp prices went up during the sameperiod. In the second half of the last fortnight,trading sentiment remained sluggish amidadequate stock and weak demand during theperiod. Imported Dissolving pulp market remainedstable-to-up.

Viscose Staple Fibre

By the end of first half, the upward strength wasslowed down amid slightly subdued sales.Downstream buyers showed resistance towardsrising prices and suppliers show more interest inmoving volumes than pushing for a price rise. VSFprices softened in Chinese domestic market due toweak demand from the downstream users, in thesecond half of the last fortnight. Market playerswere less confident towards the outlook so bothprices and sales will remain stable to soft in theshort term amid sidelined sentiment.

Viscose Filament Yarn

Viscose filament yarn market continued to followthe downtrend in China during the first half of the

last fortnight.Overall, Viscose filament yarn marketshowed stable performance and production cut ofa few plants still needed to be carried out, asoutput and inventory still maintained at high level.During the second half of the last fortnight, VFY

market remained stable-to-soft in China.Producers curtailed production rate amid weakmarket fundamentals. Some producers offereddiscount in order to balance inventory.

Spandex

Spandex prices remained unchanged during thelast fortnight. In the last fortnight, Spandex priceopened with stable sentiment and traded rangebound. Price of Spandex yarn remained soft asdemand from foreign destination decreased.Overall demand from Chinese domestic market

declined too, during the last fortnight. Spandexsellers successfully maintained current level due tofirm feedstock market and due to ease of creditcrunch in the market.

Cotton

During the first half of this last fortnight, prices ofCotton inched up in U.S. Volatility in ICE cottonfutures during the period appears to have beendriven by factors external to cotton, rather thannew cotton supply and demand features.International spot cotton market went down in thebeginning of the second half but later rebounded.In China, cotton prices increased further and laterstabilised, while in India, domestic cotton pricesmaintained modest downtrend.

Wool

Wool prices followed a downward trend during thefirst half of this last fortnight in Australia. Woolprices followed a downward trend during thesecond half of this last fortnight in Australia. Therewere no sales reported in the Western Indicator.The year-to-date offering continues to be down onlast year. Buyers for China were dominant,followed by buyers for India and Korea. Sales arein recess in South Africa until next week.

(August 15 31, 2012)

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market watch synopsis sept 02 12

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