13 Dec 2017
China Sourcing Update: Prices of Chemical Textile Materials (Nov 2017)
1. Price indices of polyester rise and then fall in November
The price indices of polyester1 went up during early to mid-November and declined afterwards (see exhibit 1).For example, the price index of polyester DTY climbed from 10,350 on 31 October to a three-year high of 10,650 on 15 November, before retreating to 10,450on 30 November.
The main reasons for the rise in the prices of polyester in the first half of November were an increase in the prices of purified terephthalic acid (PTA), a major raw material of polyester; and an improvement in the restocking demand from downstream manufacturers. The prices of polyester dropped in the second half of the month as the prices of PTA fell and the downstream demand softened.
Going forward, we believe that the prices of polyester will start to stabilize in the near term as upstream costs rebounded in early December.
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