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China Nylon Filament Yarn Market Weekly (Nov 2-6, 2009)

Published: 06 Nov 2009 01:42:52 PST

Spot Price (yuan/mt)
		30-Oct	6-Nov	Weekly average price	Trend
POY86Dtex/24F	Lower-grade	20200	20300	20200	↗
	Higher-grade	21500-21700	21500-21700	21500	→↗
DTY70D/24F	Lower-grade	23000-23500	23000-24500	23300	→↗
	Higher-grade	24000-24700	24000-25000	24400	→↗
FDY70D/24F	Higher-grade	22200-22500	22200-22500	22400	→↗
Dull FDY40D/34F		25300-26000	25500-26500	25700	→↗
Plant Operation in Mainland China
Operating rate (%)		Oct 26-30		Oct 30-Nov 6
	POY	75		75
	DTY	82		82
	FDY	59		59
	Textile mills	63		63
Inventory	POY	Medium to low		Low
	DTY	Medium		Medium
	FDY	Medium to low		Medium to low
Market Roundup
Nylon filament yarn producers were under increasing pressure in face of high feedstock cost, soft demand and low-priced imported NFY, so they showed strong intention to raise the offers. Sales ratio was steady this week. Downstream producers did not build up inventories actively despite increased NFY offers as downstream market performed moderately and capital was tight before the year end. NFY only gained 100-200yuan/mt in the week due to strong resistance from buyers. Yarn producers were unwilling to sell at a low level attributed to high imported chip prices.

Higher-grade POY 86Dtex/24F was traded at 21,500-21,700yuan/mt and lower-grade at 20,200-20,500yuan/mt. The higher offers of FDY were placed at 23,000-23,500yuan/mt, whereas the business was still concluded at 22,200-22,500yuan/mt.
Big plants adjusted up DTY quotations actively. New orders for higher-grade semi-dull DTY 70D/24F were required to be done at 24,500-25,000yuan/mt, and those for 30D/12F at 30,500-31,000yuan/mt. Traded prices hiked slowly. Medium-grade 70D/24F was changed hands at around 24,000yuan/mt and medium-grade 30D/12F at 29,000yuan/mt.
Outlook
Nylon filament yarn price will climb up further, particularly FDY price, as producers have to replenish stocks. However, the increase is expected to be limited.