Crude oil slid below $70 a barrel for the first time in 7 weeks. New York light sweet traded at a discount to London Brent crude at $69.86 a barrel down $2.12. The prices fell as the summer seasons come to an end, an expected slow down in world demand New York oil prices have dropped 11 percent from the record $78.77 a barrel on Aug. 1

Naphtha prices in the benchmark Japan market remained the same at $667 a ton while declined in Rotterdam and Mediterranean by $14 respectively. Future bid prices firmed up, however. CFR Bid Far East prices for the 2nd half of September increased by $15.50 a ton, while the distant contract for 1st December saw an increase of $9 respectively

PSF and PFY were mostly unchanged across markets. Polyester staple fiber in the benchmark Taiwan market was quoted at $1.35 a kg FOB, unchanged and 750 POY polyester filament yarn in benchmark Malaysia was quoted unchanged at $1.45 a kg FOB. In India, both PSF and PFY fell 2 cents in the week.

In Feedstock’s, paraxylene softened along with crude oil and in the benchmark Korea market, price fell $45 to $1,040 a ton FOB while ethylene prices firmed up in Europe but in Asia made some losses. NE Asia prices were quoted at $1,300 a ton down $20 while in Europe prices were raised $10 - $20 respectively. MEG too saw upward movement along with ethylene. PTA prices fell along with paraxylene this week while Polyester Chips prices in the week saw some downfall in China and Pakistan

The Nylon chain saw a pretty sluggish week. Benchmark 70D/24F Korea FOB prices remained well grounded at $3 a kg but saw some increases in India in different grades of POY. Nylon Chip prices remained unchanged across markets, similarly Polypropylene local prices in China have remained unchanged. Feedstock benzene saw some recovery pushing Caprolactum prices also ahead.

Acrylic staple fiber India local prices increased 2-3 cents while elsewhere it remained the same. Benchmark Taiwan 1.5D/38mm FOB price was quoted at $2.25, where it has been well grounded. Feedstock propylene prices in the benchmark Korea market was steady at $1,050 a ton, despite a weaker crude oil while Acrylonitrile prices increased in North China and Europe.

Viscose staple fiber saw increase of 2-3 cents across all major grades in India and in China, local VSF price got quoted at $2.71 a kg up by 3 cents. Similarly Viscose Filament Yarn saw increases across markets and across grades. 300D both bright and dull were both quoted at $3.63 a kg up 7 and 3 cents respectively

Cotton - Cotlook A index closed at $1.43 a kg, down 3 cents, while New York futures ended higher by 3 cents $1.25 a kg respectively on good exports figures released this week by USDA while The Australian wool market finished 1.9% higher, on average, finishing higher by 33 cents at $7.61 a kg In terms of dollar.

For detailed analysis on fibers and feedstock please refer to YnFx Weekly PriceWatch Report. Call us on + 91 22 66291120 or write to us at mini@ynfx.com to get a detailed report.

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