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Polyester fiber prices up in China

Direct-spun polyester staple fiber (PSF) prices in China increased in mid July driven by cotton and polyester yarn instead of polyester feed stocks, catching the industry unprepared. Viscose staple fiber (VSF) prices moved up rapidly in line with auctioned cotton price at the end of June. Direct-spun PSF also followed up during end of June and early July, while it was completely pulled by polyester feed stocks.

Since mid-July, bolstered by cotton and VSF prices, direct-spun PSF prices have surged up, partly because of widening demand from yarn mills, which have shifted to polyester staple fiber products under pressure from surging cotton and VSF prices. And partly because of the polyester yarn mills in Fujian who revised up offers boosted by good demand.

Relatively speaking, blended yarn in North China was weak. Direct-spun PSF plants were mostly free of inventories and some even could not fully cover orders. Nevertheless, downstream showed limited follow-up trends, so the market now enters a consumption period and the focus can be returned to polyester feed stocks.

Adding to the largely stable polyester feed stocks, cash flow of direct-spun PSF widened to 400 yuan per meter, close to the high level year-to-date.

 
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