YnFx Latest Release: Cotton prices in India further weakens
YnFx PriceWatch Report dated 12th October 07 reports, crude oil prices again got firm on lower supplies this week. Nymex Crude oil futures rose to $83 a barrel on falling US crude stock pile and global crude oil inventories. Crude supplies in Europe and Asia...


/Apparel - Textile News Articles/ - MUMBAI, INDIA, October 20, 2007 - YnFx PriceWatch Report dated 12th October 07 reports, crude oil prices again got firm on lower supplies this week. Nymex Crude oil futures rose to $83 a barrel on falling US crude stock pile and global crude oil inventories. Crude supplies in Europe and Asia are below average, and global inventories fell in the third quarter, which usually is a period of increases according to the International Energy Agency, and the risk of them remaining low is supporting the prices.

Naphtha in Japan fell by US$13 a ton to US$719 a ton, CFR while in Mediteranean it increased US$ 16.73. Naphtha contract prices climbed up along with firm crude oil price expectations whereas swaps increased US$ 16 - 21 for respective months.

PFY prices across markets remained stable for respective grades. In India, PFY prices were higher due to a strong rupee. PSF along with PFY too stayed stable, across markets in China and India. 1.4D/38mm SD was quoted at US$ 1.61 a kg. IN Pakistan too, the prices remained stable.

In feedstock's, Ethylene prices in Europe and US gulf firmed up in the week. However in Asia, Prices softened up. Ethylene in South East Asia fell US$40 to US$ 1,195 a ton at CFR terms. Paraxylene across markets saw some moderate changes across markets in Europe, China, Korea. MEG prices spurted across markets due to tight supply. MEG prices in Korea increased US$ 80 to US$1,450 a ton FOB while in China prices increased US$60 - 80 fro respective specs. PTA prices in China weakened across China and other markets in Asia while Polyester Chips prices remained stable in most markets of China, Taiwan and NE Asia.

Nylon Chips prices jumped US$60 to US$ 2,650 a ton in South East Asia. In China, Nylon Chip prices for different grades increased US$ 60 - US$ 90 at CIF terms while in the local market, prices increased US$ 27 while NFY prices were stable across markets in Korea, China and India

Benzene firmed up along with crude oil in the week with prices in Europe increasing by US$ 22. In Rotterdam, it got quoted at US$1,040 a ton. Caprolactum prices in China increased US$30-US$40 while elsewhere in Asia it remained stable all along. Polypropylene prices in China in the local market remained steady for the third consecutive week.

ASF prices were unchanged in across markets as upstream prices remained steady. 1.5D/38mm in China was quoted at US$2.65 a kg. Acrylonitrile prices have been impacting ASF production. Acrylonitrile prices after being bullish have calmed since the last couple of weeks. Propylene prices in the week remained stable in Asia and US while increased by US$9 to US$1,231 a ton, FD in North West Europe.

VFY prices in China remained stable while in India, was higher in dollar terms due to a stronger rupee while VSF prices in China increased by 2 cents to US$2.93 a kg while in India remained unchanged after the last weeks increase.

The Cotlook A index remained stable at US$1.51 a kg while New York cotton futures added a cent this week, and got traded at US$1.40 a kg. In India, prices have been weakening as the new arrivals have begun. Prices for Shankar-6 grade were quoted at US$1.41 a kg, down 3 cents.

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