Fiber Updates (From 16th July to 21st July 2018)
1) In the beginning of the week, PSF manufacturers held stable offers in China markets.
2) After a stable beginning, Crude oil and PTA futures ranged bound in weakness. Hence China PSF makers increased room for discussions.
3) In the midweek, China PSF market turned stable to soft.
Crude oil and PTA futures markets were in narrow fluctuation. PSF market sentiment turned stable to soft and offers and discussions edged down.
4) In the end of the week, Crude oil and PTA futures markets firmed up in China and boosted up PSF market sentiment. PSF makers stood on the sidelines and held stable offers. PSF market in Shandong and Hebei was covered by wait-and-see sentiment with moderate buying interest.
5) In the beginning, VSF market ranged bound in China markets on a soft note.
6) In the midweek, China VSF prices became weak.
Following several weeks of stalemate, downstream mills may gradually replenish volumes after raw material stocks are depleted. On the other hand, VSF producers are witnessing higher inventory, after previous orders were gradually fulfilled.
7) In the end of the week, weak atmosphere continued in the China VSF market.
With low VSF stocks at downstream mills, enquiring atmosphere appeared passable, seeing some replenishing activities to cover shorts. However, overall outlook remained bearish.
8) In the beginning, China Long-staple cotton market made corrections. Offers were stable and trading was insipid.
9) In the midweek, China Cotton spot market made corrections, with producers aggressive in selling.
10) China Cotton spot market made corrections amid sidelined stance, with prices holding stable in the end.
11) China PET chip market held stable on firm feedstock in last week.
SD chip market firmed up with some offers up by 50 yuan/ton.