market watch synopsis_dec 17_13

8/13/2019 Market Watch Synopsis_Dec 17_13

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(Dec 1 - 15, 2013)

Crude Oil

In the last fortnight, selling offers for Crude oilprices surged due to rise in manufacturingactivities in the U.S.A market. The increase in

Crude oil prices was also triggered by the fuelinventory report brought out by the U.S.A EnergyInformation Administration (EIA) which stated thatcrude oil inventories fell. During the second half,selling offers for Crude oil prices followed mixedsentiments in action due to rise in U.S.A gasolineand distillate inventories coupled with declined inthe value of U.S.A dollar.

Naphtha

In the last fortnight, prices of Naphtha went updue to tight supply of Naphtha in Europe, becauseof high volume of exports, which means limitedvolumes are now available for Asian exports. Inthe second half, selling offers for Naphtha pricesincreased. In Asian market, selling offers forNaphtha opened with surge due to improveddownstream demand and strong plastic demand.Somehow, it maintained the selling price abovethe opening level.

Paraxylene

In the beginning of the first half, Paraxylene price

increased mainly due to supply shortage. In Asianmarket, selling offers for PX increased during thelast fortnight, due to bullish feedstock pricescoupled with firm upstream energy value. In thesecond half, PX prices continued to increase dueto improved buying sentiments. In Asian markets,selling offers for PX surged due to result of strongdemand trends in key markets like China market.

Purified Terephthalic Acid

In the last fortnight prices of PTA increased atslow and steady pace. During the first half, PTAprices increased in Asian market due to firm

feedstock prices coupled with higher upstreamenergy value. During the second half of the lastfortnight, selling offers for PTA increased in Asianmarket due to steady demand coupled with firmupstream values that supported the price gain. Inthe European and U.S.A markets selling offers forPTA remained steady.

Ethylene

In the last fortnight, prices of Ethylene went up intandem with bullish upstream markets. In the

beginning of the first half, Ethylene prices surgedin Asian market due to tight product availability inthe region. In U.S.A market, selling offers forEthylene surged due to firm energy market. In thesecond half of the last fortnight, Ethyleneincreased. In Asian market, selling offers forEthylene increased due to limited productavailability coupled with firm upstream energyvalue.

Monoethylene Glycol

In the last fortnight, selling offers for MEG

increased with the help of favorable marketfundamentals. In Asian markets MEG pricessurged due to improved buying sentiments in theregion coupled with a bullish feedstock prices.During the second half of the last fortnight, sellingoffers for MEG maintained steady sentiments inglobal market. During the second half of the lastfortnight, selling offers for MEG kept stable in

Asian market due to mute buying sentiments.

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(Dec 1 - 15, 2013)

PET Chips

PET chips market presented weak outlook andprices remained stable due to subdued demand

from the downstream market in the Chinesedomestic market during the first half. PET chipsbuying sentiments remained sluggish due to lackof support from the downstream buyers during theperiod. PET fibre chips market showed weakappearance and prices remained stable due tosluggish demand from the downstream buyers inthe Chinese domestic market during the secondhalf.

Polyester Staple Fibre

Polyester staple fibre improved and prices wentup due to robust demand from the downstreammarket in the Chinese domestic market during thefirst half. Polyester staple fibre market showedsign of improvement in the beginning of the firsthalf as downstream buyers showed active interestin buying. Polyester staple fibre market showedweak performance and prices remained stabledue to moderate demand from the downstreammarket in the Chinese domestic market during thesecond half.

Polyester Filament Yarn

Polyester filament yarn market showed modestperformance and prices remained stable due tomoderate demand from the downstream market in

the Chinese domestic market. In spite of firmfeedstock market, Polyester filament yarn marketprices were relatively stable due to sluggishdemand from the downstream buyers and weakmarket fundamentals during the second half.Polyester filament yarn market sentimentsremained lackluster and buying activities werethin during the period.

Propylene

In the last fortnight, Propylene prices movedhigher. In the beginning of the first half of the lastfortnight, Propylene price increased in Asianmarket due to strong buying sentiments coupledwith planned and unplanned outage. In Europeanmarket, selling offers for Propylene went up dueto tight product availability in the market. In thesecond half, Propylene prices increased withsupport of firmer energy rates, a good buyingpulse and firmer downstream prices.

Acrylonitrile

In the last fortnight, selling offers for ACNdeclined. During the last fortnight, ACN priceplunged in Asian market due to bearish regionalbuying sentiments coupled with weak energy inmarket. In the second half, ACN prices continuedto decline. Selling offers for ACN went down in

Asian market, due to bearish buying sentiments inkey markets like China, coupled with a drop infeedstock prices. In the European market, sellingoffers for ACN remained unchanged due to inertfeedstock prices.








(Dec 1 - 15, 2013)

Acrylic Staple Fibre

Acrylic staple fibre market showed softappearance and prices remained stable due tosubdued demand from the downstream buyers in

the Chinese domestic market. Acrylic staple fibretrading activities improved somewhat but marketsentiments remained lackluster amid sluggishdemand from the downstream buyers during theperiod. Acrylic staple fibre market showed softoutlook and prices remained stable due tosubdued demand from the downstream buyers inthe Chinese domestic market during the secondhalf.

Polypropylene

In the first half, selling offers for PP pricesincreased. In the beginning of the last fortnight,PP price increased in Asian market due toimproved buying sentiments coupled with higherfeedstock prices. In the European market, sellingoffers for PP increased due to strong buyingsentiments coupled with high upstream energyvalue. In the second half, PP prices surged inglobal market. Spot PP prices recorded remainedstable in Asian market, mainly due to mute buyingsentiments.

Benzene

In Asian, Benzene market prices went up due tofirm demand from the downstream buyers in the

regions during the first half. In the Rotterdammarket, Benzene prices increased in tandem withfirm upstream energy value and tight productavailability in the region. In the second half of lastfortnight, Benzene market showed weak outlook

due to sluggish demand from the downstreambuyers coupled with weak upstream energy rateduring the second half.

Caprolactam

CPL market showed a firm outlook and priceswent up due to improved buying sentiments fromthe downstream buyers during the first half.During the second half in Asia, CPL marketcontinued to follow an upward trend and priceswent up due to robust demand from thedownstream buyers. CPL suppliers revised offerprices and inquiries from downstream buyersincreased during the second half. On the otherside, downstream buyers were still cautious andreluctant to accept high prices goods during thesecond half.

Nylon Chips

Nylon Chips price declined in the last fortnightdue to sluggish market fundamentals.Downstream buyers maintained bearish mood asupstream market situation remained weak.

Demand from downstream Nylon weavers failedto improve with market during that period. Duringthe second half, price of Nylon Chips priceincreased with the support of firm feedstockprices. In Chinese market, demand for high speedspinning semi dull textile grade Nylon Chipimproved as inventories with the downstreambuyers declined.

Nylon Filament Yarn

Nylon filament yarn market showed soft outlookand prices went down due to subdued demand

from the downstream buyers in the Chinesedomestic market during the first half. Some nylonfilament yarn producers with high inventory








(Dec 1 - 15, 2013)

curtailed production rate in order to reduceinventory pressure during that period. Nylonfilament yarn prices were relatively stable-to-softdue to lack of demand from the downstreambuyers during the second half.

Cotton Linters & Pulp

In the first half, cotton linter market showedmodest appearance and prices remained stabledue to subdued demand from the downstreambuyers in the Chinese domestic market. Importeddissolving pulp market presented a firmappearance and prices went up due to robustdemand from the downstream market during thefirst half. Cotton linter market showed firmsentiments and prices were relatively stable due

to robust demand from the downstream market inthe Chinese domestic market during the secondhalf. Dissolving pulp market showed firmperformance and prices were relatively stable-to-up due to robust demand from the downstreambuyers during the second half.

Viscose Staple Fibre

Viscose staple fibre market showed soft outlookand prices remained stable-to-soft due tosubdued demand from the downstream buyersduring the first half. Viscose staple fibre market

presented soft performance and prices declineddue to subdued demand from the downstreammarket in the Chinese domestic market during thesecond half. In the USD based export market,Viscose staple fibre prices remained stable buttrading sentiments remained dull.

Viscose Filament Yarn

In the first half, Viscose filament yarn marketpresented soft outlook and prices remainedstable-to-soft due to subdued demand from the

downstream in the Chinese domestic market. Inthe second half, Viscose filament yarn marketweakened further and prices remained stable-to-soft due to sluggish demand from the downstreammarket in the Chinese domestic market. Viscosefilament yarn market consolidated as downstreambuyers showed no intentions in buying and stayedaway from the market during the period.

Spandex

During the first half, prices of Spandex remainedunchanged, as Spandex sellers did not provideany discount to active buyers who cut their plantoperational rate to resist financial crisis. In thesecond half, selling offers for Spandex remainedstable due to moderate demand and improvedproduct availability. In the earlier part of thesecond half, Spandex offers opened at the samelevel, but with the support of firm trading volumefrom Spandex sellers maintained steady prices.

Cotton

International cotton market remained range boundin narrow range due to subdued demand from thedownstream buyers and weak marketfundamentals during the first half. Internationalcotton market followed an upward trend andprices went up due to rigid demand from thedownstream buyers and firm marketfundamentals towards the end of the second half.In India, cotton market followed an upward trenddue to robust demand and tight productavailability in the market during that period.

Wool

Wool market followed an upward trend in Australia market during the first half of lastfortnight. Wool market continued to follow anupward trend in Australia market during thesecond half of last fortnight.

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market watch synopsis_dec 17_13

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