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China Sourcing Update (Prices of Chemical Textile Materials) Nov 2016

1. Price indices of polyester rise in November

The price indices of polyester went up in November (see exhibit 1). For example, the price index of polyester DTY rose from 9,050 on 10 November to 9,200 on 15 November, the highest level since June 2015, and stayed at the same level till the end of November.

The main reasons for the increase in the prices of polyester in the month were a rise in the prices of purified terephthalic acid (PTA), a major raw material of polyester; low inventory levels held by polyester manufacturers; and a strong demand for polyester from downstream textiles manufacturers.

Going forward, the upstream costs of polyester are likely to go up further, as prices of oil, a major material of PTA, have surged lately following the announcement of an oil output cut by the Organization of the Petroleum Exporting Countries (OPEC) on 30 November. Therefore, we expect that the prices of polyester will rise further in the near term.

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Content provided by Fung Business Intelligence
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