Market Watch Synopsis

7/28/2019 Market Watch Synopsis

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Crude Oil

In the first half of the last fortnight, Crude oilprices showed a mixed sentiment due to tensionsthat abated over a bank tax in Cyprus which

threatened to worsen the debt crisis of the Euro-zone on one hand and a rise in the value of theUS dollar on the other. Industry sources updatethat, Crude oil prices declined due to fall inbusiness figures and activity across majorindustries in the Euro-zone. In the second half ofthe last fortnight, selling offers for Crude oilsurged due to crucial bills passed by the CypriotParliament.

Naphtha

In the last fortnight, Naphtha prices declined.

Higher supply from European region due to lackof demand and outage in downstream industrycompelled Naphtha prices to decline. Naphthamargins slipped down in the Asian markets due toweak demand from petrochemical feedstock ofNaphtha. In the last fortnight, selling offers forNaphtha increased. In the beginning of the lastfortnight, selling offers for Naphtha opened withan optimistic sentiment.

Paraxylene

In the last fortnight, selling offers for PX wentdown in global market. Selling offers for PX pricesplunged down across the global market due tomuted buying activity because of sluggishdemand. In European market, selling offer for PXdeclined due to a weak trend in U.S.A and Asiamarket coupled with the dull regional buyingtrend. In the second half of the last fortnight, PXmarket continued its gradual decline. PX prices inAsian market slipped due to ease of availabilityand lack of buying interest.

Purified Terephthalic Acid

In the beginning of the first half of the lastfortnight, selling offers for PTA prices saw a fallthat was prompted by a weak support fromupstream market coupled with weak demand

cues and dull downstream polyester demandtrends. During the second half of the last fortnight,selling offers for PTA declined in line with dullbuying pulse and unworkable price of feedstock.In early second half of the last fortnight, sellingoffers for PTA went down in Asian markets, dueto extremely sluggish regional buying trendsexacerbated by bearish downstream demand.

Ethylene

In the last fortnight, selling offers for Ethylene

declined in global market due to weak demand inmarket. Selling offers for Ethylene went down inEuropean market, due to a weak energy market.In the early second half of the last fortnight,selling offers for Ethylene declined in Asianmarket due to weak demand in the region coupledwith less buying interest. In European market,selling offers for ethylene declined due to weakfeedstock price coupled with weak demand.

Monoethylene Glycol

During the first half of the last fortnight, MEG

prices went down in Asian market due to weakdemand trends and a drop in fell of feedstockprices. In the second half of the last fortnight,selling offers for MEG further diminished. Overall,in the second half of the last fortnight, MEG offerswere fluctuating in a narrow range. In thebeginning of the second half of the last fortnight,MEG market opened with weak sentiment due tobearish energy market.

(March 15 31, 2013)
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PET Chips

PET Chips prices went down due to subdueddemand from the downstream market in the

Chinese domestic market during the first half.Trading activities remained thin and buyingmomentum was lackluster during the period.Polyester chips prices went down in the Chinesedomestic market due to weak marketfundamentals and unfavorable macroeconomicoutlook during the second half. PET chipsproducers started feeling inventory pressure andlowered prices in order to reduce inventorybalance inventory during the period.

Polyester Staple Fibre

Polyester staple fibre market followed adownward trend due to weak feedstock marketand sluggish demand from the downstreambuyers in the Chinese domestic market during thefirst half of last fortnight. Polyester staple fibresuppliers lowered offers prices in order to reduceinventory during the period. Polyester staple fibremarket went down further in tandem with weakfeedstock market and sluggish demand from thedownstream market in the Chinese domesticmarket during the second half of last fortnight.

Polyester Filament Yarn

In the first half of the last fortnight, Polyesterfilament yarn market presented a soft outlook andprices went down due to subdued demand from

the downstream market in the Chinese domesticmarket in line with polyester value chain. Overall,Polyester filament yarn market was underpressure amid unfavorable market outlook. In thesecond half, Polyester filament yarn marketpresented a weak performance in line with weakfeedstock market and lack of support from thedownstream players during that period.

Propylene

In the beginning of the first half of the lastfortnight, Propylene price plunged down due to

poor energy market. In Asian market, sellingoffers for Propylene declined due to productavailability and poor buying interest. Selling offersfor Propylene declined due to poor demand fromdownstream market. In the beginning of thesecond half of the last fortnight, selling offers forPropylene surged in Asian market due totightness of supply in the region.

Acrylonitrile

In the beginning of the first half of the lastfortnight, selling offers for ACN declined in Asianmarket due to bearish sentiment formdownstream market creating pressure on ACNprices. In European market, selling offers for ACNwent down due to poor regional buying interestand weaker feedstock values. In the second halfof the last fortnight, ACN prices in F E Asianmarket declined slowly. Selling offers for ACN fellback due to weak buying sentiment supported byvolatile currency market against U.S greenback.

Acrylic Staple Fibre

In the first half of the last fortnight, ASF marketpresented a soft performance and pricesremained stable due to sluggish demand from thedownstream buyers in the Chinese domestic

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market and in the USD based market during theperiod. During the second half, in USD basedimport market, trading activities remainedlackluster and prices went down. ASF pricescontinued to maintain a weak tone and prices

remained stable due to subdued demand from thedownstream buyers in the Chinese domesticmarket during the second half.

Polypropylene

In the last fortnight, selling offers for PP declineddue to lack of support from market fundamentals.Many of the PP producers were consideringmaintenance outage in short term future, asoption to curb ample of availability for PP market.In the last fortnight, selling offers for PP followed

a mix sentiment in global market due to a bounceback in energy of the market. In the beginning ofthe second half, selling offers for PP showed amixed sentiment in Asian market due to tightproduct availability and bullish buying sentiment.

Benzene

In Asia, Benzene market showed weakappearance due to subdued regional demandfrom the downstream market, coupled with thedrop in energy of market during the first half. Inthe second half, Benzene market followed anupward trend and prices went up slightly in theglobal market due to robust demand fromdownstream market and firm crude oil value

during that period. In European market, Benzeneprices climbed up in line with firm support fromdownstream buyers, coupled with the gainrecorded in crude oil market.

Caprolactam

CPL market presented a soft outlook and priceswent down due to sluggish demand from thedownstream buyers and unfavorable marketfundamentals during the first half of the lastfortnight. CPL trading activities remained scarceand buying sentiment were insipid during the firsthalf of last fortnight. During the second half of thelast fortnight in Asian market, CPL market showeda weak outlook and prices declined further due tosluggish demand from the downstream market,during the same period.

Nylon Chips

In the early phase of last fortnight, selling offersfor Nylon chip declined mainly due to weak buyingsentiment from downstream market as well asdue to weak upstream support. During the firsthalf of the last fortnight, buyers stayed apart fromthe market. In the second half of the last fortnight,Nylon Chip prices declined significantly due toweak buying momentum. Overall, demand fromtextile and other converters were dull, buyers

awaited for price reduction which was commonphenomenon in textiles and allied chain.

Nylon Filament Yarn

Nylon filament yarn market portrayed a weakperformance and prices remained stable due tomoderate demand from the downstream buyers inthe Chinese domestic market during the first halfof last fortnight. There was a big discrepancybetween sales and production during the first halfof last fortnight. Nylon filament yarn marketshowed soft appearance and prices went down

due to subdued demand from the downstreammarket in the Chinese domestic market.

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Cotton Linters & Pulp

Cotton linter market remained sluggish amidunfavorable market fundamentals and lack of

support from the downstream buyers during thefirst half. Imported dissolving pulp marketremained stable due to anti-dumping investigationin spite of sluggish demand. Cotton linter marketremained stable and prices were steady due tosluggish demand in the Chinese domestic marketduring the second half. Imported dissolving pulpmarket remained stable due to sluggish demandfrom the downstream market during the secondhalf.

Viscose Staple Fibre

In the first half of the last fortnight, Viscose staplefibre market followed a downward trend andprices went down due to sluggish demand fromthe downstream market in the Chinese domesticmarket. Viscose staple fibre market remainedweakened due to sluggish market outlook duringthe second half. Viscose staple fibre pricesmoved down triggered by the rumours about lowprice product availability in the market during theperiod.

Viscose Filament Yarn

In the first half of the last fortnight, Viscose staplefibre market remained in bearish mood and priceswere hard to climb upward due to lack of supportfrom the downstream buyers during that period.

Producers released stable offers but traded priceswent down as downstream buyers were cautiousand reluctant to purchase goods amid unclearmarket fundamentals during that period. Overall

Viscose filament yarn market showed a weakoutlook due to moderate demand towards the endof the second half.

Spandex

During the first half of the last fortnight, price ofSpandex remained unchanged, as Spandexsellers did not provide any discount to activebuyers who cut their plant operational rate toresist financial crisis. In the second half of the lastfortnight, selling offers for Spandex opened withfirm sentiment as inquiry flow increased and

inventories decreased with the downstreamcustomers. Trading volume remained firm tomoderate spurred by bullish sentiment during thelatter half of the last fortnight.

Cotton

In China, cotton market remained unchanged dueto moderate demand from the downstreammarket, while Cotton market in India fluctuated athigh level during the first half of this last fortnight.Cotton price in India suddenly and abruptlyincreased, creating a panicky situation in thespinning sector. In China, cotton market remainedstable due to a moderate demand, while in India,cotton market followed a mixed sentiment due tolack of support from the downstream marketduring the second half of last fortnight.

Wool

Wool prices went down during the first half of lastfortnight in Australia. Buyers for China weredominant, with support from buyers for Europeand India. Wool prices continued to follow adownward trend during the second half of lastfortnight in Australia. Buyers for China weredominant, with support from buyers for Europe,India and Korea. In other countries, sales are inrecess in South Africa until next week.

(March 15 31, 2013)

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