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Fiber Intermediates

PET chips markets in Asia were sluggish with wait-and-watch atmosphere strengthening before the Spring Festival holidays. Chinas provisional antidumping measures on PTA imports from South Korea and Thailand influenced market sentiment boosting sale/production ratios of PFY market. However, the antidumping measures had favorably influenced the market since late 2009. It is expected that PET chip market will remain stable in the coming weeks.



Fiber Intermediates

PTA prices inched up a bit amidst quiet Asian market this week, partially regaining the losses of previous week as China imposed antidumping duty on imports of paraxylene from Thailand and South Korea. This had certain influence on downstream PTA market. Basically the markets faced closeout ahead of Chinese Lunar New Year holiday during the last week of Chinese Lunar 2009. Sellers were reluctant to sell in expectation of post-holiday market gains.



Wool

The Australian wool market was volatile this week, with handsome gains on Wednesday, only to give back the gains on Thursday. The market eased Aus cents 4 this week while stronger US$ eased wool prices to a large extent. The EMI at Aus$9.16 a kg lost US cents 22, ending the week at US$8.07 a kg. The North Australia index closed at US$8.31 a kg, while West Australia was at US$8.18 per kg. The South Australia Index closed at US$7.85 a kg.



PSF

PSF prices were up in Taiwan and Pakistan this week while some varieties were cheaper in China. In China, PSF trading improved slightly influenced by antidumping imposed on PTA. With spring festival approaching, trades were limited to mild this week and prices fluctuated amid stability. The demand/supply fundamentals were still poor and prices are expected to remain range-bound on a low position in coming weeks.



Cotton

Cotton futures dropped to the lowest since November as a rally in the US$ eroded the value and slumping equity markets revived concern that the US economic recovery may stall, slowing demand for clothing. US futures lost US cents 2.52 at US cents 66.62 per pound (March 2010). The Cotlook



 
 
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