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Polyester Fiber and Yarn Prices in China, India and Pakistan, in local currency and US$ terms
Polyester Fiber & Yarn Price Comparison: China vs. India and Pakistan Statistical Report
26 July 2011
Polyester prices relatively stabilized on the three major domestic markets in Asia. With spun yarn prices further falling, however, margins of yarn producers are heavily dropping. Indian spinners were more affected than rivals in China and Pakistan.
Polyester prices stopped heavily falling on major Asian markets in the last weeks.
In China, average price for benchmark 1.4D fell to 12,568 yuan per metric ton over the first half this month.
In India, PSF prices were stable in early July while they even rose in Pakistan.
This is in sharp contrast with the level in cotton prices which are still sliding in the three countries.
Compared with their level a year earlier, PSF prices still gained 33% in China, 40% in India and 28% in Pakistan.
Compared with China, prices are 10% higher in India and only 2% higher in Pakistan.
On all three domestic markets, spun polyester yarn prices are further falling, whatever the stabilization in raw material costs.
This is the result of large inventories putting a downward pressure on yarn prices.
In China, 100% PSF yarn prices are only 12% above their level a year ago, while they are 2% and 11% above the same level in India and Pakistan, respectively.
Margins of spinners dramatically declined in all three countries, especially if keeping in mind that PSF was often purchased earlier this year, and at higher rates, consecutively.
Indian spinners are the most negatively affected, reflecting the high level of yarn inventories in this country.
With spun yarn stocks being progressively digested in the near future, however, the situation could radically change.
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