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Weekly PriceWatch Report

Issue No.44 - 4th November 2013

Polyester Staple Fibre………………………………………………………………….

Paraxylene……………………………………………………………………………………

NYLON CHAIN……………………………………………………………………………….

Ethylene………………………………………………………………………………………..

Confidentiality Statement………………………………………………………….

Notes to PriceWatch Report…………………………………………………………

EXECUTIVE SUMMARY…………………………...…………………………………….

Polyester Filament Yarn……………………………………………………………….

POLYESTER CHAIN…………………………………………………………………………

Polyester Chips…………………………………………………………………………….

Purified Terephthalic Acid……………………………………………………………

Mono Ethylene Glycol…………………………………………………………………..

CONTENTS

15

16

17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

31

32

33

34

35

36

37

38

SPUN YARN…………………………………………………………………………………..

Caprolactum………………………………………………………………………………..

NYLON CHAIN……………………………………………………………………………….

Benzene………………………………………………………………………………………..

Polyester / Cotton Blended Yarn…………………………………………………..

ACRYLIC CHAIN……………………………………………………………………………..

Spandex Yarn……………………………………………………………………………….

Viscose Staple Fibre……………………………………………………………………

NAPHTHA….………………………………………………………………………………..

Nylon Chips…………………………………………………………………………………

Polypropylene……………………………………………………………………………………

…

Nylon Filament Yarn……………………………………………………………………

Acrylic Staple Fibre………………………………………………………………………

Acrylonitrile………………………………………………………………………………….

WOOL…………………………………………………………………………………………..

100% Viscose Spun Yarn………………………………………………………………..

Propylene………………………………………………………………………………………

Wood and Cotton Pulp…………………………………………………………………

VISCOSE CHAIN…………………………………………………………………………….

Polyester / Viscose Blended Yarn…………………………………………………

100% Polyester Spun Yarn…………………………………………………………….

100% Cotton Spun Yarn………………………………………………………………..

COTTON………………………………………………………………………………………..

Viscose Filament Yarn………………………………………………………………….

CRUDE OIL…………………………………………………………………………………….

Weekly PriceWatch 4th November 2013

FOR PRIVATE CIRCULATION ONLY 2

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Ex-work

Cost+insurance+Freight

Main market offer

China

S. West Asia

Local

MARKETS BY REGIONS

Ex-factory price

Mainstream offer

Contract Producers' nominated price for ensuing month

Local main market prices inclusive of all federal and local taxes

Notes to PriceWatch Report

Main market cash transaction

Rotterdam

PakistanKorea

India

Phillipines

Singapore

Japan

EXCHANGE RATE = US$ 1

FD or Delivered

Spot

FOB Free on Board

C+F/CNF/CFR

Free delivery within 300 sq.km

CIF

Cost+Freight

MARKET TERMS

Europe

Malaysia

Far East Asia

CONVERSION RATE

US Gulf

South East Asia

Taiwan

USA

ARA

Thailand

Indonesia

Last 12

mths

Last 6

wks

Oct-13 25-Oct 1-Nov Pounds/kg

6.222 6.143 6.142 6.133 6.145 Barrels/Ton

57.305 61.530 61.474 61.625 61.905 Gallons/ton

99.843 106.153 106.314 106.501 106.909 Kgs / Maund

1.015 1.054 1.052 1.040 1.057 Kgs / Candy

0.759 0.735 0.734 0.724 0.741

2.204

Euro

7.33

299

This document is confidential and has been made available to the individual to whom it is addressed on the understanding that its

content and copyrights will not be misused. Reproduction of any part of this work by any process whatsoever without written

permission of YNFX.com is strictly prohibited. The levels are published to use purely as a guide.

All prices in this PriceWatch Report are indicative prices and may vary according to the type of fiber, quality level required.

Information contained in this report is obtained from sources believed to be reliable, however YNFX.com will accept no

responsibility or liability for commercial decisions claimed to have been based on the content of the report.

Prices covered in this report relate to "Low" of the "Low/High" price range

Confidentiality Statement

The Base of Benchmark is the major supplying region in the fibre chain

Value chain pricing intensity is the relation of the product under review with its upstream raw material segment and with its

close substitutes. It is also a conversion cost indicator. For example, naphtha is produced from crude oil, paraxylene from

naphtha, PTA from paraxylene, MEG from ethylene, POY from PTA/MEG, DTY/FDY from POY. Similarly substitute are like viscose

to cotton, acrylic to wool. Another example is the blending of cotton with polyester. In this report value chain pricing intensity,

we have, to the best of our knowledge cross linked the value chain to the immediate upstream and to the closest market term.

37.32

355.60Australian $

EXCHANGE RATE = US$ 1

China Yuan

CONVERSION RATE

Indian Rs

NOTES to Report

Pak Rs.



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Ethylene prices in Asian markets were down on weak buying sentiment and concerns about easing tight supplies. Prices have

been falling over the past four weeks ending the steady upward movement for 10 weeks in a row across the region. In Europe,

NWE ethylene contract price for November was fully settled at fall of Euro 30 on the month while spot prices were too seen

falling sharply. In US, spot ethylene jumped reaching a 1-month high on increased buying interest. Paraxylene prices in Asia fell on

the week due to a rollover of laycan. Meanwhile, no major settlement was reached for November paraxylene Asian Contract

Price, the fourth month this year that buyers and sellers failed to agree on a single price. European spot price for paraxylene was

assessed down while US spot tanked as talks lowered amid excess supply. MEG prices rose in Asia amid firmer crude. In Europe,

October MEG contract price was fully settled at a fall on September while US MEG contracts also moved down as lower prices in

Asia and a slight decline in US Gulf pricing contributed to fall. Despite falling paraxylene prices Asian PTA markets were flat and

prices generally remained unchanged. With flat PTA markets and rising MEG prices, the polyester chip markets remained gripped

by caution and producers adopted wait-and-watch stance. Semi dull PET chip market was thinly traded for the dearth of enquiries

Executive Summary

Brent crude oil fell sharply this week end, tumbling by nearly US$3 a barrel, and settling at its lowest point since early July, thus

narrowing its premium over US crude in heavy selling. Meanwhile US crude oil futures also sank to the lowest since June, while

Brent ended with its largest daily percentage loss also since June. The markets shrugged Libya's oil supply outage and focused on

a strong US$ and a supply overhang that set an overall bearish market tone. Concerns over supply from Libya wavered as North

Sea oil fields returned from maintenance. A firmer US$ makes commodities priced in the greenback more expensive for overseas

investors. A report showing US manufacturing sector expanding at its fastest pace in 2-1/2 years in October also strengthened the

dollar to its highest in more than one month. Brent crude for December delivery settled at US$105.91 a barrel, a loss of 2.7

percent, its largest daily percentage loss since June 20. US oil for December settled at US$94.61, posting a fourth straight week of

losses and its longest losing streak since June 2012. It was the lowest settlement price for the US contract since 21 June at

US$93.69.

Polyester Chain: Stable on support of monthly CP settlements

Brent down more than US$3 to settle lowest since July

by caution and producers adopted wait-and-watch stance. Semi dull PET chip market was thinly traded for the dearth of enquiries

while super bright chip mirrored SD chip market with sporadic deal done at high levels. Polyester filament yarn markets in Asia

saw some activities boosted by restocking on rigid demand early this month and healthy trend of PTA futures. In China, offers for

POY were revised upward sporadically, and those for FDY and DTY were largely maintained. In Pakistan, DTY market went stable

while Indian POY prices trended lower but producers maintained their offers amid obvious selling indications. Polyester staple

fibre markets went range-bound with short-covering demand emerging at month-end in China. However, prospect about future

was diverged. Prices in India were seen dropping for fourth consecutive weeks given the sluggish tone dominating and the Rupee

weakening further.

Nylon Chain: European benzene at its lowest since end 2011

Asian benzene prices fell amid thin demand from China and weaker downstream SM derivatives prices. Market activities were

mostly focused on December and January cargoes. European benzene market continued its freefall sinking to lowest level since

end 2011, as the appetite for spot volumes remained curbed and traders found it difficult to clear stocks. US spot benzene price

also declined as November contract price settled lower. The softening of benzene saw downstream caprolactum market going

range-bound also due to small change in downstream demand amid expanding supply. Low-end prices softened due to increasing

availability. Nylon chip markets were weak as producers faced high cost pressure while buyers still kept purchases on need-to

basis. In China, producers were running at low capacity, citing high cost pressure, but inventory was around 7-15 days, and run

rate of high-speed spinning chip producers was at around 80% with stable demand and firm prices. The softening of caprolactum

and nylon chip prices continued to support nylon textile yarn market. However, demand for NFY remained lackluster on tight cash

flow and high inventory in downstream textile sectors, and the weakness is expected to last into November.

Acrylic Chain: ASF prices decline after prolonged stability

Asian propylene markets were diverse as prices rose in the Northeast Asian market but declined in Southeast Asia on ample

supply. European spot propylene market fell as November contract price was fully settled at a decrease from October. In US spot

refinery-grade propylene gained as November talks remained firm despite nomination were flat for the month. Acrylonitrile

prices declined in Asia due to an influx of offers for deepsea cargoes, particularly from the US amid limited demand. European

acrylonitrile market saw spot prices fall this week due to weak demand in the market. In US, acrylonitrile export assessment was

steady on the week amid thin trade activity. Acrylic staple fibre prices declined in China after a prolong period of stability. Prices

slipped as October contract settlement and new nominations retreated, which lowered liquidity. October settlements and Nov

nominations were announced down, which dragged talks substantially. Prices in India also retreated, a bit sharper this time.



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Spun yarn: Slowdown in exports to China impacts spun yarn prices

Pure cotton yarn market sentiment was stable but trading was subdued across markets. In China, domestic low-priced yarn was

traded in scattered volume due to production halts. Trading for high-count yarn was healthy amid a price rise in raw materials. In

India, yarn export prices fell sharply in line with a lack of demand and a fall of cotton prices. The domestic yarn market was also

depressed, as the fabric production for festive season has been completed. Offers for spun polyester yarn were steady despite

falling PSF prices. In China, spun polyester yarn prices held stable with decent liquidity. In India, the rebound of the rupee did not

Viscose Chain: VSF price down in China, India

Asian viscose staple fibre markets remained weak in corrections and saw prices decline. Downstream players were not active in

procurement, despite lower offers. Weakness lingered over the VSF market in China as both yarn and fabric sectors softened. In

India, VSF markets went softer as downstream yarn producers mainly consumed inventory amid bearish views about the market.

Viscose filament yarn markets in Asia saw marginal changes in prices as producers mostly moved volumes in line with the market

movement. Upstream filament-grade pulp prices remained unchanged this week. In dissolving markets, pulp producers in China

were anxious to sell products, keeping offers firm. Prices of softwood pulp were in the range of US$850-860 a ton.

Cotton: Supply hangover pulls prices down

Cotton prices were under pressure of oversupply across markets. US Cotton futures closed lower as growing supplies drove

investor selling, signaling the end of the speculator-driven rally. The most-active December cotton contract on ICE Futures U.S.

edged down US cents 2.50 on the week and was almost down 18 percent from its August high. The Cotlook A index also lost US

cents 1.05 while the China Cotton Index edged down 10 Yuan a ton. In Pakistan, cotton prices were seen declining every day due

to low demand. The Karachi Cotton Association (KCA) revised down its cotton spot rate by almost PakRs300 per maund ex-

Karachi. In India, cotton prices continued to decline due to poor demand from millers and exporters. Cotton harvest is expected

to reach a historic high this season, but exports are forecast to drop 13.5 percent due to slowing demand from top consumer

China.

falling PSF prices. In China, spun polyester yarn prices held stable with decent liquidity. In India, the rebound of the rupee did not

help India's yarn exporters and market participants are expecting exports to recover after Diwali, as PSF prices were seen falling

consistently in October. Viscose spun yarn markets were subdued as VSF prices continued to soften across markets in Asia.

Transaction for 10s and 30s spun viscose yarn was passable. Viscose spun yarn markets in China were mute while they were weak

in Pakistan, due to fall in exports to China. Blended yarn market sentiment barely changed as selling activity was poor for

polyester-cotton yarns. In India, polyester-cotton prices (65-35) dropped more than 10% as demand from China weakened for a

few weeks, partly due to the surging competition from Pakistan, where prices rose lesser in US$ terms in the recent weeks. In

China, blended spun yarn prices were stuck at the same levels during the week amid depressed atmosphere. In Pakistan, local

buyers were less interested in ordering yarns at current prices due to the decline of textile sales.



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low high low high low high low high low high low high

1,416 1,417 1,040 1,040 1,329 1,329 976 976

1,336 1,338 981 982 1,389 1,396 1,020 1,025 1,022 1,033 750 758

1,027 1,032 754 757 905 948 1,247 1,306 1,372 1,300 1,007 955

1,049 1,051 770 772 - - - - 1,284 1,254 943 921

1,240 1,320 910 969 1,791 1,887 1,300 1,370 1,895 1,940 1,391 1,424

1,420 1,470 1,043 1,079 1,910 2,690 1,390 1,950 2,303 2,380 1,691 1,748

1,240 1,340 910 984 1,720 2,180 1,250 1,580 2,017 2,116 1,481 1,554

1,500 1,570 1,101 1,153 2,777 2,909 2,039 2,136

2,159 2,185 1,585 1,604 3,174 3,659 2,330 2,686

1,430 1,480 1,050 1,087 1,910 2,370 1,390 1,720 2,535 2,645 1,861 1,942

1,680 1,740 1,234 1,278 2,260 2,750 1,640 2,000 2,821 3,174 2,071 2,330

1,850 1,900 1,358 1,395 2,150 2,890 1,580 2,100 2,887 3,086 2,120 2,266

587

US$/ Ton

Polyester Chain

Crude Oil 778

563767

571

558

Euro/ Ton Euro/ TonUS$/ Ton

736

760Naphtha 558

Euro/ Ton

540

October-13

Asia (CFR) USA (Del)

799

760

US$/ Ton

Europe (Del)

150D POY

75D POY

Polyester chips

6D solid (fiber fill)

75D textured

1.2/1.5D SF

1000D conventional

Paraxylene

Ethylene

MEG

150D textured

PFY

PSF

PTA

1.00 1.00 0.88 0.92 1.34 1.26

1.00 1.00 - - 1.22 1.19

1.00 1.00 1.35 1.83 1.62 1.62

1.00 1.00 1.85 1.85

1.15 1.18 2.48 3.34 1.43 1.54

1.21 1.26 - - 1.72 1.88

1.21 1.19 1.07 1.26 1.47 1.50

1.44 1.39 1.18 1.16 1.11 1.20

Value Chain pricing intensity

MEG

POY / PTA+MEG

POY / Polyester chip

Benchmark ratio: Asia = 100

PTA

75D POY

PET chip / PTA+MEG

1.2/1.5D SF

DTY / POY

500

1000

1500

2000

2500

3000

3500

J F M A MJ J A S O N D J F M A MJ J A S O

US

$/M

T

ASIA

PTA MEG PSF POY

500

1000

1500

2000

2500

3000

J F M A MJ J A S O N D J F M A MJ

US

$/M

T

EUROPE

PTA MEG PSF POY

500

1000

1500

2000

2500

3000

J F M A MJ J A S O N D J F M A MJ

US

$/M

T

USA

PTA MEG PSF POY

500

1000

1500

2000

2500

3000

3500


US

$/M

T

EUROPE

PTA MEG PSF POY

500

1000

1500

2000

2500

3000

3500


US

$/M

T

USA

PTA MEG PSF POY



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►

►

(US$/Kg)

Min Max Min Max

1.59 1.87 1.59 1.63 1.60 1.59 -5.6

1.61 1.92 1.68 1.72 1.72 1.71 -2.4

Polyester chain went stable this week on support of monthly contract price

settlements, and staple fibre market went range-bound. With short-covering

demand emerging at month-end in China, liquidity increased a bit compared

with last week, though most deals were concluded in smaller volumes.

However, prospect about future market was diverged. Prices in India were

seen dropping for fourth consecutive weeks given the sluggish tone

dominating and the Rupee weakening further. PSF markets are likely to remain

under downward pressure in coming week.

Product SpecsPrev 6 wks

Market

1.61China

Virgin fibre

1.69

Polyester Staple Fibre

1-NovTerm

1.4D/38mm SD

25-Oct % YoY

In China, mainstream prices for 1.4D direct-melt-spun PSF in Jiangsu and

Zhejiang closed at 9.75-9.85 Yuan a kg (US$1.59-1.61 a kg), down US cent 1 on

the week while the same in Fujian & Shandong was at US$1.59-1.61 a kg. In

Pakistan, prices in Karachi were flat at PakRs.183-188 a kg, or US$1.71-1.76 a

kg. In India, PSF prices softened further by INR0.50 to INR103.75 per kg, or

US$1.68 per kg, down US cents 2 from last week.

Last 12 mths

Del

1.0

1.5

2.0

2.5

D J F M A M J J A S O N D

US$

/ K

g

1.4D/38mm China

Polyester Staple Fibre

2013 2012

1.61 1.92 1.68 1.72 1.72 1.71 -2.4

1.64 1.90 1.68 1.80 1.69 1.68 -6.6

1.46 1.66 1.46 1.47 1.47 1.46 -9.4

- - - - -

0.78 1.04 0.82 0.91 0.91 -7.7

Figure in italic is average for the period

1.751.78


India

East China1.56

Taiwan / ROK 1.4D/38mm SD / Cotlook A index

1.76

Local

Local1.71

Re-cylced

3-dimensional-crimp hollow 6-

15D

1.5 D/38mm SD

1.47Main

Pakistan

1.4 D/38mm SD

India 1.5 D/38mm SD / Cotlook A Index0.89



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►

►

(US$/Kg)

Min Max Min Max

1.68 1.95 1.69 1.72 1.71 1.71 -7.1

TermProduct Specs

Polyester Filament Yarn

25-OctPrev 6 wks

1.71Shengze

1-Nov % YoY

Local1.78

The polyester filament yarn markets in Asia saw some activities boosted by

restocking on rigid demand early this month and healthy trend of PTA futures.

Sales/production ratio for PFY was reportedly passable in China, with numbers

at 100% or slightly higher at most producers. In Jiangsu, offers for POY were

revised upward sporadically, and those for FDY and DTY were largely

maintained. In Pakistan, PFY market went stable, with discounts ongoing in

firm deals. In India, PFY prices trended lower but producers maintained their

offers amid obvious selling indications.

In China, POYs 75/72 was pegged at US$1.76-1.77 a kg, rolling over from last

week, while 75/36 was steady at US$1.71-1.74 a kg. 75/72 DTY prices, in

Shengze were at US$2.26-2.31 a kg, unchanged from last week. In Pakistan,

DTY prices for 150/48/0 intermingled were pegged at PakRs100-107 per pound

or US$0.94-1.00 a pound. In China 50/24 FDYs were pegged at US$1.82-1.86 a

kg, down US cents 7 while 150/96 FDYs were at US$1.63-1.66 a kg, down US

cents 2. In India, POY 130/34 prices were at INR 121.06 a kg or US$1.96,

unchanged from previous week while 250/34 was at INR117.95 or US$1.91 a

kg.

MarketLast 12 mths

POY 75D/36F

1.00

1.50

2.00

2.50

3.00

3.50


US

$ /

Kg

75D POY China

Polyester POY

2013 2012

1.72 1.99 1.74 1.79 1.76 1.76 0.0

1.73 2.15 1.86 1.89 1.87 1.86 -12.4

1.86 2.08 1.96 2.08 1.97 1.96 -5.0

1.82 2.09 1.82 1.94 1.89 1.82 -5.8

1.80 2.04 1.80 1.92 1.81 1.81 -2.7

2.26 2.46 2.37 2.41 2.38 2.37 3.0

1.78 1.99 1.79 1.84 1.81 1.79 -5.1

1.63 1.96 1.63 1.71 1.65 1.63 -8.3


Local

1.89Shengze

1.99

1.71

POY 130/34

2.02

2.00

FDY 50D/24F

India

Local

1.78

Local

1.821.88

Local

2.37DTY 75/24/0 Pakistan

1.76

1.88

Shengze

2.39

1.91

FDY 75D/36F

Local

Changshu

1.84FDY 63D/24F

FDY 150D/96F

POY 114/108

1.82POY 75D/72F

Local

Local

Shengze

India

1.96

1.79

…contd/-

LocalChangshu1.66



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Min Max Min Max

2.12 2.26 2.13 2.20 2.14 2.13 -2.6

2.26 2.46 2.37 2.41 2.38 2.38 3.0

2.17 2.36 2.25 2.28 2.26 2.27 -1.6

2.20 2.41 2.31 2.33 2.31 2.32 -2.2

2.04 2.21 2.04 2.07 2.05 2.05 -5.6

2.06 2.32 2.06 2.24 2.07 2.07 -9.5

2.02 2.22 2.02 2.02 2.02 2.02 -5.7

2.02 2.18 2.04 2.07 2.05 2.05 -3.6

1.96 2.12 1.98 2.01 1.99 1.98 -4.4

2.16

Local

Shengze

2.14

Last 12 mths

2.19

Prev 6 wks

LocalChangshuDTY 75D/144F

% YoY

LocalDTY 75D/36F Shengze

Pakistan

TermProduct Specs

DTY 75/48/0

LocalDTY 150/48/0

2.02

DTY 300/96/0

2.26

Pakistan

2.27

2.24

DTY 75D/72F

2.33

Changshu

2.10

2.05

2.10

1-Nov

Local

25-Oct

DTY 150D/288F

Market

Local

2.06

2.392.37

2.31

DTY 300/96 INT

Pakistan Local

2.06

1.99Pakistan

LocalPakistan

2.12DTY 150/48/INT

Local

Polyester Filament Yarn (contd..)

1.90 2.06 2.00 2.00 2.00 2.00 -2.4

1.72 1.95 1.92 1.92 1.92 1.92 1.1

1.80 2.05 1.98 1.98 1.98 1.98 -3.4

1.98

1000D/192F high stretch, low

shrink

2.00

1000D/192F high stretch, low

shrink

2.05

FOB

FOB

1000D/192F high stretch

2.00China Main Port

1.99

1.92

Shanghai

FOB1.90

Shanghai

1.99



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►

►

(US$ / Ton)

Min Max Min Max

1,473 1,786 1,473 1,529 1,476 1,473 -7.6

1,481 1,786 1,481 1,594 1,484 1,481 -7.5

Local

Prev 6 wksProduct Specs

1,588 1,503

Last 12 mthsMarket

China

Term

With PTA markets almost flat this week and rising MEG prices polyester chip

markets remained gripped by caution this week and producers adopted wait-

and-watch stance. Semi dull PET chip market was thinly traded for the dearth

of enquiries. Super bright chip markets mirrored SD chip market with sporadic

deal done at high levels amid overall insipid atmosphere. CDP chip market

fluctuated in weakness, reflecting the lack of buying interest in the

downstream segment. There is a strong likelihood that the markets will remain

range bound in coming week in line with raw material sector.

In China, semi dull chip was offered at 9,050-9,150 Yuan a ton (US$1,475-1,490

a ton), unchanged from last week while super bright chips mainstream offers

were at 9,100-9,300 Yuan a ton (US$1,480-1,515 a ton), up US$15 from last

week at eh upper end of the price range. CDP chip mainstream offers were at

10,300-10,350 Yuan a ton (US$1,675-1,685 a ton), up US$30 from previous

week. Asian marker, the FOB Taiwan/Korea for semi-dull, continuous spinning

fibre grade chip prices was at US$1,650 a ton, rolling over from last week.

1-Nov

Polyester Chips

% YoY25-Oct

Cont polymerised (SD, fil grd)

1,000

1,500

2,000

2,500


US

$/T

on

Taiwan FOB

Polyester Chips

2013 2012

1,481 1,786 1,481 1,594 1,484 1,481 -7.5

1,638 1,874 1,638 1,708 1,647 1,676 -5.2

1,600 1,775 1,650 1,700 1,650 1,650 -2.9

1.45 1.66 1.60 1.66 1.64 1.64

1.42 1.77 1.56 1.62 1.62 1.60

1.36 1.50 1.43 1.49 1.47 1.46

1.39 1.66 1.40 1.45 1.45 1.43


1,671

Taiwan-Korea SD chips/ Korea FOB PTA

China

Semi-dull, fibre grade

Super bright, fil grade1,533

Local

Local

1.60

1.45

1.431.50

China

Taiwan / ROK1,683

1,749

China SD fil gr chips / China mainstream PTA

Taiwan-Korea SD chips/ Korea FOB MEG1.59

1.631.54

China SD fil gr chips / China mainstream MEG


1.46

FOB

CDP

1,679

1,603



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►

►

(US$/ Ton)

Min Max Min Max

1,007 1,199 1,007 1,060 1,007 1,007 -8.0

1,005 1,200 1,005 1,065 1,010 1,005 -9.0

1,097Korea/ TaiwanOffers FOB

Prev 6 wks

Purified Terephthalic Acid

Despite falling paraxylene prices Asian purified terephthalic acid markets were

assessed flat week on week. Prices generally remained unchanged this week as

the negotiation for November contract price started during the week. In US

terephthalic acid price was heard set at a decrease from September, following

last week's settlement of the US paraxylene contract. PTA markets in H1

November may be gentle and stable, but if no positive factors show later, the

prices may again step onto to the downward path, also dragged by soft

feedstock.

% YoYLast 12 mths

Product Specs 25-OctMarket 1-Nov

Asian PTA markers remained flat week on week to be assessed at US$1,000-

1,002 a ton CFR China while South Asian numbers were at US$1,007-1,012 a

ton. Midweek spot PTA CFR China was at US$999.60-1,001.6 a ton while CFR SE

Asia was heard at US$1,003-1,005 a ton. CFR South Asia was assessed at

US$1,030-1,032 a ton. Formula-derived October US terephthalic acid price was

set at US cents 62.42 per pound a US cent 1.14 decline from September.

Term

1,032

500

800

1,100

1,400

1,700


US

$/

To

n

Korea/ Taiwan FOB

Purified Terephthalic Acid

2013 2012

1,005 1,200 1,005 1,065 1,010 1,005 -9.0

995 1,190 995 1,050 995 1,010 -7.3

1,000 1,204 1,000 1,053 1,000 1,000 -8.6

1,204 1,410 1,204 1,252 1,215 1,204 -6.8

0.70 0.77 0.72 0.73 0.72 0.73

0.68 0.75 0.70 0.71 0.70 0.71


1,088Imported goods

China

CIF1,033

1,094

CIF

Main1,025

0.73Korea FOB / Korea FOB paraxylene

1,100Goods in bonded areas

1,2321,289

0.72

Local

1,024

0.71

Domestic producers


China

0.72

China

China

China mainstream / China spot paraxylene



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(US$ / Ton)

Min Max Min Max

938 1,230 1,020 1,073 1,020 1,030 -4.5

950 1,235 1,035 1,080 1,045 1,035 -4.6

1,062

25-OctLast 12 mths

FOB1,051

Prev 6 wks1-Nov

Asian MEG markers rose US$10 week on week to be assessed at US$1,035-

1,037 a ton CFR China and US$1,030-1,032 a ton CFR Southeast Asia. Early in

the week, offers were maintained in the range of US$1,020-1,030 a ton against

bids at around US$1,010-1,020 a ton and talks hovering around US$1,020-

1,030/ton. European October MEG contract price was fully settled at Euro 985

a ton (US$1,357 a ton) FD NWE, representing a fall of Euro 53 on September. In

US, MEG contracts moved down US cent 1 to open November as lower prices

in Asia and a slight decline in US Gulf pricing contributed to decrease.

Mono ethylene glycol prices rose in Asian markets on the week amid firmer

crude. The markets moved within a tight range this week, and retreated from

last week earlier this week. Midweek saw sporadic short-covering activities as

the market was faltering. European October MEG contract price was fully

settled at a fall on September. US MEG contracts also moved down to open

November as lower prices in Asia and a slight decline in US Gulf pricing

contributed to fall. MEG markets will still be weak in corrections in case of no

significant support.

Korea/TaiwanFront month offer

Product Specs

Mono Ethylene Glycol

% YoYTermMarket

0

500

1,000

1,500

2,000


US

$/T

on

Taiwan / Korea FOB

Mono Ethylene Glycol

2013 2012

950 1,235 1,035 1,080 1,045 1,035 -4.6

940 1,220 1,020 1,070 1,035 1,020 -4.7

937 1,187 1,025 1,068 1,025 1,035 10.0

1,100 1,310 1,220 1,220 1,220 1,220 -3.9

1,090 1,310 1,215 1,230 1,230 1,215 -4.3

1,100 1,310 1,200 1,200 1,200 1,200 -7.0

0.77 1.02 0.77 0.82 0.77 0.78

0.73 0.93 0.73 0.77 0.73 0.75


1,219

Buying ideas

Asia

CFR Asia

1,049

Korea FOB / Korea FOB ethylene


1,059

1,072

Mainstream

Asia

0.76

MEGlobal's nomination

CIF1,046

1,228

China

1,212

1,062China CIF

1,198

CIF

Shell's nomination

1,062

Goods in bonded areas

China

China mainstream CIF / NE Asia CFR ethylene

0.86

1,200

CFR Asia

0.83

0.79

Sabic's nomination Asia CFR Asia

1,220



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(US$ / Ton)

Min Max Min Max

1,372 1,699 1,387 1,463 1,399 1,387 -9.5

1,290 1,592 1,290 1,380 1,310 1,290 -12.8

Product Specs

1,500

1,424

Korea

Asian paraxylene markers fell US$5 day on day and US$12 on the week to be

assessed at US$1,387-1,388 a ton FOB Korea and US$1,411-1,413 a ton CFR

Taiwan/China. The Northwest European spot price was assessed US$20 lower

on the week at US$1,290 a ton FOB ARA. In US, paraxylene spot price tanked

US$60 week on week to an assessment of US$1,290 a ton FOB USG as markets

pegged spot in the range of US$1,270-1,300 a ton, as demand waned. October

US paraxylene contract price was settled down Us cents 2 at US cents 73.50

per pound.

Paraxylene

% YoY1-NovMarket

Paraxylene prices in Asian markets fell week end and were also lower on the

week due to a rollover of laycan. Meanwhile, no major settlement was reached

for November paraxylene Asian Contract Price, the fourth month this year that

buyers and sellers failed to agree on a single price. European spot price for

paraxylene was assessed down as the market was heard longer and trades

were done at lower levels. In US, spot paraxylene tanked week on week, as

talks lowered amid excess supply. October US paraxylene contract price was

also settled down.

Last 12 mths

1,338

FOB

Prev 6 wks

1,424

25-OctTerm

Europe FOB

1,000

1,500

2,000

2,500


US

$/T

on

Korea FOB

Paraxylene

2013 2012

1,399 1,724 1,411 1,487 1,423 1,411 -12.0

1,399 1,724 1,411 1,487 1,423 1,411 -9.4

1,400 1,750 1,420 1,580 1,580 1,420 -160.0

1.48 1.75 1.48 1.61 1.54 1.48

- - - - - -

1.70 2.13 1.70 1.83 1.74 1.70


1,565

1,525

Korea FOB / Japan CFR naphtha

1,424

1.76

1,448Spot

1,338

1,525

1.94

Taiwan

1,553

CFR


Exxon's nomination

1.54

SE Asia CFR / Japan CFR naphtha

1,448

Europe FOB / Rotterdam naphtha

Contract

1.63

Asia

China



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(US$ / Ton)

Min Max Min Max

1,090 1,540 1,245 1,380 1,290 1,245 -7.1

1,105 1,564 1,330 1,468 1,387 1,330 -10.8

% YoY

NW Europe

Term

1,3101,340

Ethylene

25-OctMarket 1-Nov

CIF

Weak buying sentiment pulled down ethylene prices in Asian markets and

concerns about tight supplies eased. Ethylene prices have been falling over the

past four weeks ending the steady upward movement for 10 weeks in a row

across the region. Softening was more visible in the past week. In Europe, NWE

ethylene contract price for November was fully settled at fall of Euro 30 on the

month while spot prices were too seen falling sharply. In US, spot ethylene

jumped on the week reaching a 1-month high on increased buying interest.

Production margins also climbed hitting their highest level for October.


Last 12 mths

Asian ethylene markers, the CFR Northeast Asia fell US$25 week on week to be

assessed at US$1,374-1,376 a ton while the CFR Southeast Asia slipped US$5

during the week to US$1,429-1,431 a ton. Spot ethylene assessments in

Europe was at Euro 985-990 a ton FD NWE, down Euro 20 over the week while

CIF NWE values were at US$1,245-1,250 a ton CIF Mediterranean. European

ethylene contract price for November was fully settled at Euro 1,195 a ton FD

NWE, down Euro 30 from October. US spot ethylene jumped 2 cents/lb week

on week, assessed Friday at 49.25-49.75 cents/lb FD USG after reaching a 1-

month high of 50.75 cents/lb FD USG.

0

500

1,000

1,500

2,000


US

$/T

on

Korea FOB

Ethylene

2013 2012

1,105 1,564 1,330 1,468 1,387 1,330 -10.8

959 1,493 959 1,124 1,041 1,085 -8.8

1,154 1,424 1,359 1,424 1,399 1,374 3.0

1,142 1,469 1,429 1,469 1,434 1,429 11.3

1,079 1,369 1,289 1,364 1,329 1,324

1.07 1.30 1.10 1.16 1.12 1.10

1.21 1.61 1.53 1.61 1.58 1.53

1.64 2.11 1.75 1.95 1.85 1.75


NW Europe

SE Asia1,449

1.15 1.14

1,401


NE Asia

US Gulf

1.44

NW Europe FD Spot / Rotterdam naphtha 1.85

FD Spot

Korea

1.91

FOB

1,241

1,389

SE Asia CFR / Japan CFR naphtha

FD Phy.

CFR

1,328

1,285

Korea FOB / Japan CFR naphtha

1,228

CFR1,322

1,039

1.57

1,402



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1,254 1,255 921 922 1,200 1,201 881 882 1,238 1,238 909 909

2,372 2,384 1,742 1,750 2,477 2,667 1,819 1,958 2,160 2,160 1,586 1,586

2,680 2,718 1,968 1,996

7,427 7,582 5,400 5,500

9,367 9,918 6,800 7,200

8,045 8,375 5,907 6,149

5,929 6,259 4,300 4,550

4,849 4,959 3,520 3,600

3,400 3,550 2,496 2,607 5,510 5,642 4,000 4,100 5,951 7,604 4,369 5,583

6,325 7,097 4,600 5,150 7,824 8,375 5,745 6,149

3,350 3,400 2,460 2,496

3,250 4,000 2,386 2,937 4,276 5,091 3,100 3,700 4,628 5,069 3,398 3,722

3,570 3,989 2,600 2,900 4,077 5,730 2,994 4,208

DTY 70D/68F

US$/Ton

563

Benchmark ratio: USA = 100

Caprolactum

70D weaving tube

DTY 40D hoseiry

US$/Ton

Polyamide Chips

778

767 558

587

Euro/Ton

540799

760

EuropeAsia

Euro/Ton

Indl Yarn 840D

70D/24F weaving

POY 15D

POY 70D

Crude Oil

40D warpknit

736

558Naphtha

571

Benzene

DTY 15D

NFY

BCF 1200D

760

Euro/Ton

Nylon Chain

US$/Ton

USA

October-13

0.57 0.47 0.93 0.74 1.00 1.00

0.70 0.79 0.92 1.00 1.00 1.00

1.89 1.90 2.06 2.22 1.75 1.74

1.13 1.14

1.43 1.49

Benchmark ratio: USA = 100

840D, Industrial


70D NFY / CPL

Chip / CPL

Caprolactum

CPL / Benzene

70D weaving (tube)

2000

2500

3000

3500

4000

4500

5000

J FMAM J J A S ON D J FMAM J J A S O

US

$ /

To

n

ASIA

CPL PA chips NFY

1000

1500

2000

2500

3000

3500

4000

4500

J F MAM J J A S O N D J F MAM J J A S O

US

$ /

To

n

EUROPE

CPL NFY

1000

1500

2000

2500

3000

3500

4000

4500

J FMAM J J A S O N D J FMAM J J A S O

US

$/T

on

USA

CPL NFY



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(US$ / Kg)

Min Max Min Max

4.91 5.34 5.04 5.14 5.14 5.13 -0.5

Market

In China, the mainstream prices for nylon filament FDY 70D/24F SD were in the

range of US$3.87-3.91 per kg in China, down US cents 2-4 from last week while

40D/12F FDY FD were at US$4.31-4.47 a kg, unchanged from previous week.

DTYs 70D/24F were pegged at US$4.12-4.39 a kg, rolling over from last week

while 30D/10F DTY prices were steady at US$5.13-5.29 a kg.

The softening of caprolactum and nylon chip prices continued to support nylon

textile yarn market. However, demand for NFY remained lackluster on tight

cash flow and high inventory in downstream textile sectors, and the weakness

is expected to last into November. In case of staple fiber, cord fabric and

fishing-net yarn sectors, buying interest will also be stable on the back of lean

inventory, despite lusterless terminal demand. Given a long feedstock market,

cost may soften further and NFY sentiment is likely to weaken further.

DTY 30D/10F SD

Term

5.07

Last 12 mths Prev 6 wks% YoY1-NovProduct Specs

Nylon Filament Yarn

LocalChina5.14

25-Oct

3.00

4.00

5.00

6.00

7.00


US

$/

Kg

70D/24F China local

Nylon Filament Yarn

2013 2012

4.03 4.29 4.07 4.15 4.13 4.12 -1.6

4.18 4.46 4.23 4.32 4.32 4.31 0.8

1.45 1.55 1.51 1.54 1.51 1.54

1.69 1.90 1.71 1.76 1.75 1.76


FDY 40D/12F SD

4.11DTY 70D/24F SD

4.26

China DTY 70D / China caprolactum mainstream offer

5.07

China

1.73

Local

4.25

1.76

China DTY 70D / China SD chip local

5.14

1.51

4.11China

Local


1.52



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Asian polypropylene prices edged down in Far East Asia this week but were up in India in a largely stable market. The PP raffia and

injection markers were assessed at US$1,505 a ton CFR Far East Asia, down US$5 from last week. In North Africa, polypropylene

market was balanced this week as prices closed at US$1,515-1,520 a ton CFR, unchanged from last week. In Europe,

polypropylene market saw prices fall this week amid weak demand as they closed the week at Euro 1,190-1,195 a ton FD NWE.

Polypropylene

US polypropylene contract prices for November were still expected to fall, although likely not to the extent originally expected by

some. North American prices for polypropylene dropped in October as seasonal demand declined. Regional prices were down US

cents 2 cents per pound, after prices were flat in September. In Latin America, buying interest was weak with few offers heard in

the polypropylene market this week. Prices were stable in Brazil and Peru with co-polymer at US$1,645-1,655 a ton CFR Peru.



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(US$ / Ton)

Min Max Min Max

2,600 2,870 2,650 2,700 2,700 2,680 -1.8

2,620 2,900 2,680 2,730 2,730 2,680 -4.3

Nylon Chips

Market TermPrev 6 wks

CIF

Product Specs

SE Asia

Last 12 mths

Nylon chip markets were weak this week as producers faced high cost pressure

while buyers still kept purchases on need-to basis. In China, producers were

running at low capacity, citing high cost pressure, but inventory was around 7-

15 days, and run rate of high-speed spinning chip producers was at around

80% with stable demand and firm prices. Downstream, nylon textile yarn

makers were running at around 80% capacity with inventory worth 20-30

days’. Downstream demand is expected to remain sluggish and thus, the nylon

chip market sentiment will hold stable in coming weeks.

Offers for Taiwan-origin chips were down US$10-50 to US$2,680-2,720 a ton

while South Korea-origin chips were traded at US$2,630 a ton. In China, bright

conventional spinning nylon-6 chips were pegged at 18,000-19,500 Yuan a ton

(US$2,930-3,175 a ton), down US$5 from last week. Semi-dull chips of

different qualities from producers were at 20,000-21,000 Yuan a ton (US$3,255-

3,420 a ton), unchanged from last week.

1-Nov % YoY

2,691

25-Oct

SD high speed spinning2,675

1,000

2,000

3,000

4,000

5,000

D M J J O N D

US

$/T

on

SE Asia FOB

Nylon Chips

2013 2012

2,620 2,900 2,680 2,730 2,730 2,680 -4.3

3,061 3,519 3,255 3,287 3,261 3,255 1.6

2,892 3,344 2,929 3,058 2,935 2,929 -1.2

3,640 3,832 3,659 3,832 3,832 3,824 0.5

3,640 3,832 3,659 3,832 3,832 3,824 0.5

1.11 1.23 1.11 1.15 1.14 1.15

0.94 1.10 1.01 1.05 1.01 1.05


Henan Shema

SE Asia SD chip / SE Asia caprolactum CFR

China SD chip local / China caprolactum offer price

1.15


Ex work

1.02

3,708

2,705

Local

Nylon 66 dry chips (FYR27D)

1.13

CIF

China

2,9953,061

1.05

2,722SD high speed spinning (Taiwani)

Nylon 66 wet chips (EPR27)

3,243

Henan Shema

3,711

China

LocalSD high speed spinning

Ex work

Conventional Spng Chips

3,717

3,717

China

3,272



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(US$ / Ton)

Min Max Min Max

2,170 2,500 2,340 2,390 2,360 2,340 2.6

2,170 2,500 2,340 2,390 2,360 2,340 2.6

Asian caprolactum markers, the Far East Asia and South East Asia were in the

range of US$2,340-2,350 a ton, down US$20 from last week. In China,

mainstream trading prices for low-end caprolactum were at 17,500-17,700

Yuan a ton (US$2,850-2,880 a ton) for solid, while bulk liquid were around

17,200-17,500 Yuan a ton (US$2,800-2,850 a ton). Sinopec issued November

nomination at 18,600 Yuan a ton (US$3,025 a ton), while DSM Nanjing’s

nomination was at 19,100 Yuan a ton (US$3,110 a ton). Some contracts were at

US$2,450 a ton at high-end.

Product Specs

CFR

Market

As benzene prices softened downstream caprolactum market went range-

bound this week also due to small change in downstream demand amid

expanding supply. Low-end prices softened due to increasing availability. In

downstream segment demand was flat as demand for conventional chips was

weak with inventory at chip producers was around 7-15 days while nylon

textile yarn makers were running at around 80-90% capacity with inventory at

20-30 days’ worth. Caprolactum markets are expected to soften as supply will

increase, combined with flat demand.

Prev 6 wks

2,334

Term

2,373

2,3732,334SE Asia

FE Asia

Caprolactum

1-Nov25-Oct % YoYLast 12 mths

CFR

1,500

2,000

2,500

3,000

3,500

4,000


US

$/T

on

SE Asia CFR

Caprolactum

2013 2012

2,320 2,550 2,390 2,420 2,420 2,420 -3.2

2,170 2,500 2,340 2,390 2,360 2,340 4.0

2,701 3,242 2,799 2,993 2,918 2,799 -0.8

2,813 3,286 3,108 3,163 3,163 3,108 3.2

1.53 1.99 1.84 1.92 1.92 -

- - - - - -



2,330

DSM Nomination

Mainstr

eam off 2,9272,926

Contract

1.78

3,150

SE Asia CFR / SE Asia benzene FOB

2,373

From Japan China

2,334

CIFFrom East Europe

China

2,373

FE Asia CFR / Taiwan benzene CFR

1.89

China

3,071

2,419CIF

CFR Asia

2,403



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(US$ / Ton)

Min Max Min Max

1,195 1,479 1,227 1,279 1,254 1,227 -7.3

1,217 1,549 1,217 1,286 1,235 1,220 -17.9

25-Oct 1-Nov

FOB

Term % YoYPrev 6 wks

Benzene prices fell in Asian markets amid thin demand from China and weaker

downstream SM derivatives prices. Most market activities were focused on

December and January cargoes. European benzene market continued its

freefall this week, as the appetite for spot volumes remained curbed and

traders found it difficult to clear stocks. Prices sank to lowest level since end

2011. US spot benzene price also declined week over week, assessed as

November contract price settled lower. Latin American benzene markets

tracked the falling energy and prices fell week on week.

Product Specs

Korea1,319 1,258

Benzene

Market

Asian benzene marker, the FOB Korea declined US$27.50 to US$1,226.50-

1,227.50 a ton week on week, neutralizing the rise posted in the preceding

week. In Europe, spot barges were assessed at US$1,176.50-1,177.50 a ton

FOB Rotterdam while the CIF ARA values were heard at US$1,166.50-1,167.50

a ton, both down US$3 from last week. Meanwhile benzene contract was fully

settled at a decline of Euro 78 a ton. In US, spot benzene price sank US cents 6

week over week, assessed at US cents 407.95-408.05 a gallon for November

while contract price was settled US cents 27 lower at Us cents 410 a gallon.

Latin benzene was assessed US$17 down at US$1,159-1,161 a ton FOB Brazil.

Last 12 mths

0

500

1,000

1,500

2,000


US

$/T

on

Korea FOB

Benzene

2013 2012

1,217 1,549 1,217 1,286 1,235 1,220 -17.9

1,174 1,534 1,174 1,252 1,180 1,177 -14.1

1,164 1,524 1,164 1,242 1,170 1,167 -14.2

1,186 1,478 1,226 1,290 1,226 -

1.56 1.96 1.58 1.64 1.63 1.59

1.55 1.95 1.59 1.65 1.59 -

1.51 1.94 1.51 1.61 1.56 1.54

1.45 1.93 1.45 1.57 1.49 1.48


1.62

Korea FOB / Asia crude CFR

1.51

1,260

1,208

CIF

US Gulf FOB

1.62

US Gulf FOB / US Light crude1.56

1,339FOB

1.72


1,316

ARA, Europe

FOB

1,198

1,345 1,246

1.69

SE Asia FOB / Asia crude

SE Asia

Rotterdam FOB / European Brent1.68

Rotterdam

1,329

1.72



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1,378 1,380 1,012 1,013 1,415 1,115 1,039 819 1,287 1,298 945 953

- - - - - - - - - - - -

2,350 2,410 1,725 1,770 3,100 3,510 2,250 2,550 2,730 2,850 2,004 2,093

760

587

Acrylonitrile

US$/ton

October-13

558

540

Naphtha

Euro/tonUS$/ton

ASF

Acrylonitrile

US$/tonEuro/ton

Propylene

Europe

558

ASF 1.5-3.0D

778

Acrylic Chain

767

Benchmark ratio: Europe = 100

563

ASF 1.5-3.0D


Propylene

760

Asia

736Crude Oil 571

Euro/ton

799

USA

0.21 0.22 0.28 0.32 0.25 0.26 ASF / Wool Aus. EMI

ASF / ACN


ACN / Propylene

1500

2000

2500

3000

3500

4000

4500

J FMAM J J A S ON D J FMAM J J A S O

US

$ /

To

n

Asia

ACN ASF

1500

2000

2500

3000

3500

4000

4500

J F MAM J J A S O N D J F MAM J J A S O

US

$/T

on

Europe

ASF



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(US$ / Kg)

Min Max Min Max

2.66 2.91 2.84 2.91 2.91 2.84 6.6

2.30 2.60 2.35 2.35 2.35 2.35 0.0

China1.5D/38mm

Acrylic staple fibre prices declined this week in China after a prolong period of

stability. Prices slipped as October contract settlement and new nominations

retreated, which lowered liquidity. October settlements and Nov nominations

were announced down, which dragged talks substantially this week. Demand

was still lackluster and bullish signs were hard to emerge as buyers were

cautious and preferred to hold back buying for now. Sentiment is likely to

remain the weak due to low demand support as players will focus on inventory

and acrylonitrile prices.

2.82

1-NovMarket

Offers for regular ASF was at US$2.35-2.40 a kg. while Japan-origin goods were

at US$4.03 a kg, both flat at previous week’s level. In China, offers for 1.5D

staple and 3D staple were respectively pegged at 17.45- 17.80 Yuan a kg

(US$2.84-2.90 a kg) and 17,150-17,400 Yuan a kg (US$2.79-2.83 a kg). In

Pakistan, 1.2D fibre was pegged at PakRs.300 a kg unchanged from last week

or US$2.81 a kg. In India, producers’ prices retreated INR 7 to INR 265 a kg or

US$2.67 a kg, down US cents 13 including weak INR.

Prev 6 wks25-Oct

Last 12 mths% YoYProduct Specs

2.89

Mainstr

eam off

Term

Acrylic Staple Fibre

1.00

1.50

2.00

2.50

3.00

3.50

4.00


US

$/

Kg

1.5D/38mm Taiwan FOB

Acrylic Staple Fibre

2013 2012

2.30 2.60 2.35 2.35 2.35 2.35 0.0

2.55 3.09 2.67 2.81 2.79 2.67 -3.4

2.55 3.09 2.67 2.81 2.79 2.67 -3.4

2.55 3.09 2.67 2.81 2.79 2.67 -3.4

2.55 3.09 2.67 2.81 2.79 2.67 -3.4

2.62 2.88 2.79 2.88 2.88 2.79 6.1

1.33 1.75 1.56 1.60 1.60 1.56

1.25 1.44 1.27 1.29 1.29 1.29


FOB

3D tow

1.5D/38mm

2.40

1.5D/38mm China / North China ACN self lifting

Mainstr

eam off

Taiwan

India

1.5D/38mm

Local

2.86

India

2.77

2.78

Local

India

1.28

2.82

2.82

2.35

2.77

India


2.77

1.5D/38mm Taiwan / NE-SE Asia ACN CFR

2.82

China

Local1.2D2.77

2.82

3D wet spin

1.57 1.58

1.34

Local

0.9D



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(US$/Ton)

Min Max Min Max

1,839 2,341 2,212 2,283 2,283 2,262 23.0

1,650 2,050 1,820 1,850 1,820 1,820 10.3

Asian acrylonitrile markers were up US$10-40 with CFR Far East Asia at

US$1,864-1,866 a ton, down US$10 from last week while CFR Southeast Asia

marker fell US$40 at US$1,839-1,841 a ton. European acrylonitrile prices were

down US$5 assessed at US$1,790-1,795 a ton CIF Mediterranean. US

acrylonitrile export prices assessment remained flat over the week at US$1,690-

1,710 a ton FOB USG.

Acrylonitrile

% YoYLast 12 mths

Asian acrylonitrile prices declined this week due to an influx of offers for

deepsea cargoes, particularly from the US amid limited demand. European

acrylonitrile market saw spot prices fall this week due to weak demand in the

market. In US, acrylonitrile export assessment was steady on the week amid

thin trade activity. No firm bids, offers or deals were heard this week. Market

fundamentals could hardly give a clear guidance and limited confirmed deals

depressed sellers’ confidence, despite high offers at ports. With firm cost

support and limited cargo arrivals will lend some power to the market and

prices may slightly fluctuate in coming week.

2,246

1-NovTermPrev 6 wks

25-Oct

2,116

Self

lifting

Product Specs Market

North China

1,000

1,500

2,000

2,500

3,000


US

$/T

on

China CFR

Acrylonitrile

2013 2012

1,650 2,050 1,820 1,850 1,820 1,820 10.3

1,470 2,010 1,690 1,760 1,690 1,690 6.3

1,595 1,990 1,790 1,800 1,795 1,790 7.2

1.27 1.51 1.29 1.36 1.36

1.19 1.54 1.24 1.28 1.25

1.28 1.70 1.28 1.28 -

5.59 6.86 6.28 6.28 -


1,830

CIF

1.46

China CFR / China propylene CFR

CFR


US Gulf / USA propylene spot

1,798

1.28

6.28

1.31

1,770

US Gulf

1.26

Europe / NW Europe propylene FD

Europe

1,797

6.30

SE Asia CFR / SE Asia propylene CFR

1.31

FOB1,722

China

1,722

1.37



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(US$ / Ton)

Min Max Min Max

1,212 1,405 1,369 1,399 1,389 1,399 8.2

1,179 1,403 1,359 1,389 1,384 1,389


Last 12 mths25-Oct 1-Nov % YoYTerm

Propylene markets in Asia were diverse this week as prices rose this week in

the Northeast Asian market but declined in Southeast Asia on ample supply. In

Europe, spot propylene market fell this week as November contract price for

propylene was fully settled at a decrease from October. In US spot refinery-

grade propylene gained this week as November talks remained firm despite

nomination were flat for the month. In Latin America, some ongoing propylene

turnarounds in key countries are set to resume production in the coming week.

The market is stable with supply and demand in balance.

Korea1,386

Asian propylene marker, the FOB Korea was assessed up US$10 at US$1,399-

1,401 a ton while FOB Japan was pegged at US$1,389-1,391 a ton. The South

East Asian market was down US$10 at US$1,374-1,376 a ton. Spot propylene

market in Europe saw prices close at Euro 1,032-1,037 a ton FD NWE, down

Euro 9 from last week. The NWE November contract price for propylene fully

settled at Euro 1,080 a ton FD NWE representing a decrease of Euro 30 from

October. In US, spot chemical-grade propylene was US cent 3.50 lower on the

week, to be assessed at US cents 56.25-56.75 per pound delivered.

FOB

Propylene

Market

1,312

0

500

1,000

1,500

2,000


US

$/T

on

Korea FOB

Propylene

2013 2012

1,179 1,403 1,359 1,389 1,384 1,389

1,257 1,459 1,419 1,454 1,449 1,454

1,199 1,434 1,374 1,434 1,384 1,374

1,279 1,469 1,429 1,469 1,459 1,469

1,019 1,437 1,393 1,437 1,437 1,393

892 1,325 1,255 1,325 1,325 1,296

1,102 1,631 1,240 1,361 1,317 1,240

1.58 1.86 1.78 1.83 1.79 1.78

0.98 1.31 1.30 1.30 - -

0.07 0.11 0.08 0.08 - -


1.17

1.73

Chemical grade

CIF

1.82

1.30

USAChemical grade


1,450

0.09

1,413

1,281

CFR

1,232

1,330Spot

FD

1,328SE Asia

1,378

1,371

Japan

NW Europe / European Brent

1,120Chemical grade

1,440

NW Europe

China

USA / US light

1,301

0.08

Taiwan

SE Asia / Asia crude CFR

NW Europe

CFR1,414

1,358

1,296

CFR

FOB



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439 439 323 323

1,069 1,069 785 785

866 866 636 636

2,089 2,089 1,534 1,534 - -

5,467 4,014

5,516 4,050

3,748 2,752

3,797 2,788

1.00 1.00 - -

1.00 1.00 - -

Viscose Chain

USA

Euro/ton

300D Dull

120D Dull

Wood pulp staple gr

Wood pulp staple gr

Cotton pulp staple gr

Europe

US$/ton

Second cut linters

Asia

Cotton pulp fil gr

US$/ton

1.5D/38mm

Benchmark ratio: Asia = 100

300D Bright

VSF

Euro/ton

1.5D/38mm

VFY

Euro/ton

October-13

US$/ton

120D Bright

1.00 1.00 - -

2.41 2.41

1.95 1.95

6.31


VFY / Cotton pulp fi gr

VFY / Wood pulp

VSF / Wood pulp

VSF / Cotton pulp

1.5D/38mm



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(US$ / Kg)

Min Max Min Max

2.09 2.66 2.23 2.34 2.28 2.23 -16.3

25-Oct

In China, mainstream discussions for medium-end goods were at about 12.70

Yuan a kg (US$2.07 a kg), with the low end at 12.50-12.60 Yuan a kg (US$2.03-

2.05 a kg). Most high-end prices were at 13.00-13.20 Yuan a kg (US$2.12-2.15

a kg). In Pakistan, 1.5D VSF prices were stable at PakRs235 a kg or US$2.20 a kg

in the Karachi market. In India, VSF prices were down INR 2.50 at INR 136-143

kg or US$2.20-2.31 a kg, down US cents 5 from last week.

Viscose staple fibre markets remained weak in corrections in Asia and saw

decline in prices. Downstream players were still not active in procurement,

despite low offers from producers. Weakness lingered over the VSF market in

China while both yarn and fabric sectors softened. In India, VSF markets went

softer as downstream yarn producers consumed raw material inventory amid

bearish views about the market while export market scaled down a bit. Given

the incremental inventory as a result of low sales and reduced trading volumes

VSF prices are expected to remain range bound at low levels in the coming

weeks.

% YoY

1.2D bright bleached

Viscose Staple Fibre

Product Specs

2.43

1-Nov

2.29India

MarketLast 12 mths

Produce

rs offer

TermPrev 6 wks

1.00

2.00

3.00

4.00

5.00


US

$/

Kg

1.5D/38mm China local

Viscose Staple Fibre

2013 2012

2.16 2.76 2.31 2.42 2.36 2.31 -16.2

2.06 2.63 2.20 2.31 2.25 2.20 -16.4

2.12 2.70 2.26 2.37 2.31 2.26 -16.3

2.06 2.58 2.20 2.31 2.25 2.20 -14.6

2.07 2.39 2.07 2.11 2.10 2.07 -8.2

2.08 2.64 2.12 2.21 2.21 2.20 -16.8

4.96 6.74 6.23 6.74 6.51 6.23

2.86 3.41 3.30 3.36 3.35 3.30


2.43

Local

2.33

1.5-2.0D dull

3.18

2.20

Produce

rs offer

6.62

2.091.5D/38mm

3.34

5.88

1.5D/38mm China local / Imported wood pulp

India

1.5-2.0D bright bleached

1.5D/38mm China local / Second cut linters

2.37

Produce

rs offer

India

Local

2.40

India

2.26

2.43

Pakistan

Produce

rs offer

2.18

2.29

India

Produce

rs offer

1.2D dull

2.47

rs offer

1.5-2.0D spun shades

2.52


2.26

China

2.32

1.5D



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(US$ / Kg)

Min Max Min Max

5.98 7.41 6.43 6.51 6.46 6.43 -9.2

5.32 6.62 5.72 5.79 5.74 5.72 -9.5

% YoYMarket

150D bright6.17

TermLast 12 mths

6.47

In China, 120D first-class VFYs were offered at 35.00-36.00 Yuan a kg (US$5.71-

5.87 a kg), second-class at 34.00-34.50 Yuan a kg (US$5.54-5.63 a kg) and third

class at 33.00-33.50 Yuan a kg (US$5.38-5.46 a kg). In India, 100D bright VFY

was pegged at INR 398-400 a kg, or US$6.43-6.46 a kg, down US cents 3 from

previous week due to weak INR while 450D was traded at INR 246-248 a kg or

US$3.97-4.01 a kg, down US cents 2 for similar reason.

Viscose filament yarn markets in Asia saw marginal changes in prices as

producers mostly moved volumes in line with the market movement. Later in

the week, prices remained flat, and producers basically sold at that level.

Downstream buyers also showed limited interest in buying. Upstream filament-

grade pulp prices remained unchanged this week. Filament-grade pulp was at

US$920-930 a ton. In India, VFY markets were was mostly steady and prices

rolled over. Overall, the VFY markets are likely to remain weak in coming week.

Viscose Filament Yarn

100D bright India

India

25-Oct

Local

1-Nov

5.75

6.92


Local

3.00

4.00

5.00

6.00

7.00

8.00


US

$/T

on

300 D China

Viscose Filament Yarn

2013 2012

5.91 6.77 5.94 5.98 5.98 5.97 -11.8

3.71 4.76 3.72 3.78 3.78 3.78 -20.6

3.76 4.79 3.77 3.83 3.83 3.82 -20.1

6.17

3.79

5.95

300D bright

6.36

300D dull

Local

4.20

5.75

150D bright

China

China

3.74LocalChina

Local4.26



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(US$/ Ton)

Min Max Min Max

430 574 431 456 447 456 -2.6

Term 1-Nov % YoY

Softwood pulp market remained firm this week as longshoremen strike

impacted some regions and producers more than others. NBSK contract

business prices gradually moved towards the earlier announced US$970 level

and several producers have separately announced a further increase from 1

November. This hike is typically in the range of US$20 a ton bringing

commodity NBSKP gross contract price to US$990 a ton. The US NBSK pulp

index moved up US cents 96, or by 0.10%, to close at US$962.57 a ton. In

Europe, the NBSK Index was at US$887.34 a ton, up US$4.12 (Euro 644.07,

down Euro 1.37). In China, the BHKP Index closed the week at US$657.37 a

ton, up US$0.59 from previous week.

Wood and Cotton Pulp

438ChinaSecond cut linters

MarketProduct Specs

CIF

Prev 6 wks

482

25-Oct

In dissolving markets, pulp producers in China were anxious to sell products,

but they kept offers firm at 6,600 Yuan a ton (US$1,075 a ton) or below

supported by raw materials. No news was heard regarding the anti-dumping

investigation for dissolving pulp in October in China. Prices for softwood pulp

were in the range of US$850-860 a ton. Offers for dissolving pulp were above

6,800 Yuan a ton (US$1,110 a ton) and actual trading prices were raised to

6,600 Yuan a ton (US$1,075 a ton).

Last 12 mths

500

1,000

1,500

2,000


US

$/T

on

Wood pulp Imported

Staple Grade China CIF

Wood Pulp

2013 2012

1,057 1,172 1,067 1,071 1,071 1,069 -7.5

850 950 860 870 869 860 -7.5

880 980 900 900 900 900 -5.3


CIF

438

CIF

CIF

China

482

1,093

Brazil900915

ChinaImported wood pulp staple grade

1,069Cotton pulp staple grade

886 866

Wood pulp staple grade



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(US cents /lb)

Min Max Min Max

79.40 97.10 84.90 93.15 85.95 84.90 5.7

1-NovProduct SpecsPrev 6 wks

MarketLast 12 mths

% YoY

Cotton futures closed down this week as growing supplies drove investor

selling, signaling the end of the speculator-driven rally that lifted cotton to US

cents 94 highs earlier this year. The most-active December cotton contract on

ICE Futures U.S. edged down US cents 2.50 on the week to settle at US cents

76.58 per pound. The December contract is almost down 18 percent from its

August high of US cents 93.72. The Cotlook A index also lost US cents 1.05

closing the week at US cents 84.90 while the China Cotton Index lost 10 Yuan

at 19,649 Yuan a ton.

Term

In Pakistan, cotton prices have been declining every day due to low demand

and a continuous decline in the commodity’s price on the New York cotton

market. The Karachi Cotton Association (KCA) revised down its cotton spot rate

by almost PakRs300 per maund this week to Rs6,705 per maund ex-Karachi.

Cotton prices in India continued to decline due to poor demand from millers

and exporters. Cotton harvest is expected to reach a historic high this season,

but exports are forecast to drop 13.5 percent due to slowing demand from top

consumer China.

25-Oct

Cotton

0

50

100

150

200


Cts

/ p

ou

nd

Cotlook 'A' Index

CFR

Cotton

2013 2012

79.40 97.10 84.90 93.15 85.95 84.90 5.7

110.50 163.00 145.00 163.00 160.00 163.00 47.5

100.50 153.00 135.00 153.00 150.00 153.00 52.2

69.58 93.40 85.66 85.66 79.08 76.58 -2.5

134.65 145.43 141.38 145.43 145.43 145.08 7.7

74.31 87.34 76.25 85.46 79.97 76.25 2.6

77.59 100.99 85.74 100.99 89.65 85.74 6.1

76.08 99.95 83.48 99.95 86.96 83.48 4.5

79.22 102.23 86.57 102.23 - 86.57


India

Far East Asia

140.36China Cotton Index

Spot

89.58

MCU-5

New York Futures

93.26

85.66

Spot

89.16

USA127.81

Shanker 6

97.83

Spot140.50

American PIMA -Col 3, leaf 3, st

46

95.06

India

Spot

Spot

Bunny/Brahma

Cotlook 'A' Index

117.81

American PIMA -Col 3, leaf 3, st

44

USA

143.71

90.60

82.22Futures

CFR

USA

Pakistan

86.95

Spot

150.50

80.91Grade 3, staple 1-1/32"

Spot

80.02

89.13

India

China



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(US$ / Kg)

Min Max Min Max

9.11 11.86 10.28 10.72 10.50 10.36 -4.6

9.28 12.07 10.45 10.89 10.73 10.55 -5.4

9.00 11.71 10.16 10.59 10.35 10.20 -4.1

AustraliaAWEX EMI

Wool

North Australia

Prev 6 wksTerm

10.47

1-NovProduct Specs % YoY25-Oct

Among major microns, 26-micron lost the most with prices down US cents 20

ending the week at US$7.39 a kg while 22-micron and 18-micron were down

US cents 12-13 at US$11.37 a kg and US$12.07 a kg, respectively. 23 micron

was down US cents 4 at US$11.39 a kg. Merino carding continued falling with

losses this week at US cents 14 to US$7.68 a kg.

Market

Spot

10.66

Last 12 mths

10.51

10.71

The Australian wool market was almost stable steady this week with a firm

tone towards the end of the week. The EMI eased back Aus cents 3 to close the

week at Aus$10.95. In US$ terms, with currency depreciating, the EMI was

down US cents 15 to US$10.36. The North index saw the most loss of US cents

17, with South following at US cents 15. West Index was down US cents 14. 21

to 23 micron wools were firm to unchanged, with the better style and strength

lots up. Fine to broad merino wool offering recovered while most sought after

lots were the better styles. Crossbreds also firmed, and oddments were lower.

AWEX EMI Spot

4

6

8

10

12

14

16


US

$/

Kg

AWEX EMI Australia Spot

Wool

2013 2012

9.00 11.71 10.16 10.59 10.35 10.20 -4.1

9.18 12.19 10.44 11.06 10.76 10.62 -3.6

10.57 14.83 11.99 12.51 12.19 12.07 -14.2

9.52 12.88 11.23 11.81 11.50 11.37 1.1

9.42 12.58 11.12 11.74 11.43 11.39 2.7

7.32 8.81 7.35 7.73 7.59 7.39 -16.2

6.45 7.93 7.55 7.93 7.82 7.68 18.6


South Australia7.76

Spot

22 Microns

South Australia

12.20

South Australia

10.36

AWEX EMI

11.49

Spot12.60

11.40

10.71 10.75

10.33South Australia

23 Microns

Spot7.49

South Australia

AWEX EMI

Spot

Spot

West Australia

Spot

18-Microns

Spot

11.29

26 Micron South Australia

Merino Carded

11.38

7.548.02



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(US$ / Kg)

Min Max Min Max

2.82 3.20 2.96 3.08 3.04 3.03 5.4

3.03

Product Specs

100% cotton yarn market sentiment was stable but trading was subdued this

week. In China, trading volume for 21s and 32s remained passable, but that for

other specs were not. Domestic low-priced yarn was traded in scattered

volume due to production halt and production reduction. Trading for high-

count yarn was healthy amid a price rise in raw materials, but trading volume

for regular specs was limited. In India, yarn export prices fell sharply in line

with a lack of demand and a fall of cotton prices. The domestic yarn market

was also depressed, as the fabric production for festive season has been

completed.

Market

Pakistan Local3.04

100% Cotton Spun Yarn

1-NovLast 12 mths

21/1 carded cone

In Shandong, selling targets for OE 21s were pegged at 16.00 Yuan a kg

(US$2.60 a kg) and 18.00 Yuan a kg (US$2.93 a kg) respectively amid high

inventories. In Jiangsu, 32s and 40s were priced at 32.50 Yuan a kg (US$5.29 a

kg) and 34.00 Yuan a kg (US$5.53 a kg), respectively. In India, 30s carded

cotton prices fell to US$3.40 a kg FOB India as of end October in effective

transactions. 30/1 combed yarn was pegged at US$3.45 a kg, down US cents 20

over previous week.

Prev 6 wks% YoYTerm 25-Oct

3.0

3.5

4.0

4.5

5.0


US

$/

Kg

40/1 Cotton yarn

100% Cotton Spun Yarn

2013 2012

3.34 4.16 3.51 3.52 3.52 3.51 5.1

4.04 4.21 4.20 4.21 4.21 4.20 3.9

3.27 3.60 3.35 3.46 3.35 3.46 6.0

3.16 3.82 3.67 3.77 3.73 3.67 16.0

4.22 4.37 4.36 4.37 4.37 4.36 3.4

3.11 3.91 3.34 3.84 3.36 3.34 -1.4

4.20 4.83 4.47 4.52 4.50 4.48 3.9

4.13 4.14 - - - -

3.62 4.50 3.86 4.06 3.88 3.86 -6.3

4.84 6.24 5.23 5.31 5.26 5.23 -16.2


Ex Mill Prices

32s cone

3.03

21s/2 China

3.04

Local

4.50

4.14

100s combed

Local

4.20

40s

3.47

Local

4.52

3.63

3.47

60s carded

Local3.47

3.73

Local

LocalIndia

India

Local

3.92

5.68 5.28

40s cone

4.04

60/1 carded cone

21s

Pakistan

China

4.36

Local

4.14

India

3.44Pakistan

LocalPakistan

3.52

3.38

Pakistan

30/1 carded cone

40s carded weft 100% cotton

4.30China

Local



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(US$ / Kg)

Min Max Min Max

2.04 2.26 2.12 2.18 2.12 2.12 1.1

2.24 2.44 2.31 2.35 2.32 2.31 1.9

100% Polyester Spun Yarn

2.14

TermMarket

21s

Last 12 mths

Local

Offers for spun polyester yarn were steady this week, despite falling polyester

staple fibre prices. Given short-covering demand from downstream yarn mills,

some traders were building up inventory and liquidity is likely to expand in

coming weeks. In China, spun polyester yarn prices held stable with decent

liquidity. In India, the rebound of the rupee did not help India's yarn exporters.

Market participants however expect that exports could recover after Diwali, as

PSF prices were seen falling consistently in October.

1-Nov

2.16

In China, prices of 40s and 50s were at 15.10-15.60 Yuan a kg (US$2.46-2.54 a

kg) respectively while PSF 1.4D 38mm were ranged bound, with central price at

around 9.75 Yuan a kg (US$1.59 a kg). Mainstream prices for 32s yarn were at

14.10-14.20 Yuan a kg (US$2.29-2.31 a kg) in Qianqing, Zhejiang. In India,

export price for 100% polyester spun yarn was pegged at US$1.90 a kg for

20/2, down US cents 15 while 30/1 was at US$2.35 a kg, also down US cents

15.

25-Oct

China

% YoYPrev 6 wks

Product Specs

0

2

4

6

8

10


US

$/

Kg

32s Polyester yarn

100% Polyester Spun Yarn

2013 2012

2.24 2.44 2.31 2.35 2.32 2.31 1.9

2.40 2.58 2.46 2.50 2.46 2.46 2.0

2.47 2.71 2.57 2.65 2.58 2.57 0.7

2.57 2.69 2.57 2.62 2.59 2.57 -3.5


China

2.62

2.63

Local

2.49 2.48

2.3332s

45s

China

Local

China

Local

60s

2.33

50s

Local

2.60

2.60

China



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►

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(US$ / Kg)

Min Max Min Max

2.52 2.76 2.52 2.56 2.54 2.52 -5.9

2.68 2.92 2.68 2.70 2.69 2.69 -3.2

10s2.63 2.55

Local

% YoYLast 12 mths

Market

China

Prev 6 wksTerm

100% Viscose Spun Yarn

Viscose spun yarn markets were subdued this week as VSF prices continued to

soften across markets in Asia. However, transaction for 10s and 30s spun

viscose yarn was passable. Viscose spun yarn markets in China were mute, and

downstream yarn producers were not active in procurement. In Pakistan,

viscose spun yarn market activity is weak, due to a fall of exports to China.

Spinners expected demand to rebound after the yarn fair in China, but the

continuous depression resulted in a fall of yarn demand. It is expected that

viscose spun yarn sentiment will be corrected in the coming weeks.

1-Nov

In China, offers for spun viscose yarn in Xiaoshan and Shaoxing for weaving

yarn 30s were down by 300 at 17.50-17.60 Yuan a kg (US$2.85-2.86 a kg). In

Pakistan, the Faisalabad yarn market remained silent and most of the buyers

stayed on the sidelines. 30s spun viscose yarn was pegged at US$3.54 a kg,

down US cents 3 while 40s was at US$3.70 a kg, down US cents 4. In India,

export price for 30/1 was at US$2.55 a kg while 40/1 was pegged at US$2.80 a

kg, both down US cents 25 from previous levels.

Product Specs 25-Oct

0

2

4

6

8

10


US

$/

Kg

30s Viscose yarn

100% Viscose Spun Yarn

2013 2012

2.68 2.92 2.68 2.70 2.69 2.69 -3.2

2.84 3.08 2.85 2.88 2.85 2.85 -1.8

2.99 3.22 2.99 3.13 3.13 2.99 -2.1

3.12 3.40 3.12 3.22 3.18 3.12 -7.5


China

LocalChina

China

China2.69

Local

3.28 3.19

2.86

2.76

2.92

3.0440s

30s

50s

3.08Local

Local

20s



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►

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(US$ / Kg)

Min Max Min Max

2.71 2.87 2.86 2.87 2.87 2.86 5.7

Last 12 mthsTerm

16s 65/35

In China, Shandong based Uni-Lucky Textile pegged polyester-cotton (40/60)

21s yarn and 50/50 yarn at 20.90 Yuan a kg (US$3.40 a kg) and 20.00 Yuan a kg

(US$3.25 a kg) respectively amid high inventory pressure. In India, export price

for polyester-cotton (52/48) 20/1 was pegged at US$2.75 a kg, down US cents

20 from previous levels while 30/1 was at US$2.90 a kg. Polyester-viscose

(65/335) 30/1 was at US$2.70 a kg, unchanged from previous week while 40/1

was down US cents 10 at US$2.80 a kg.

Prev 6 wks

2.81LocalChina

2.87

25-OctMarketProduct Specs

Market sentiment for blended yarns barely changed this week. Selling activity

was poor for polyester-cotton yarns. In India, polyester-cotton prices (65-35)

dropped more than 10% as demand from China weakened for a few weeks,

partly due to the surging competition from Pakistan, where prices rose lesser

in US$ terms in the recent weeks. In China, blended spun yarn prices were

stuck at the same levels during the week amid depressed atmosphere. In

Pakistan, local buyers were less interested in ordering yarns at current prices

due to the decline of textile sales.

Polyester / Cotton Blended Yarn

1-Nov % YoY

0

2

4

6

8

10


US

$/

Kg

30s 65/35 PC yarn

Polyester/Cotton Yarn

2013 2012

2.90 3.02 3.01 3.02 3.02 3.01 3.8

3.01 3.21 3.20 3.21 3.21 3.21 4.8

3.22 3.83 3.72 3.83 3.73 3.73 4.9

2.97 3.41 3.38 3.41 3.39 3.38 4.2

3.09 3.60 3.59 3.60 3.60 3.60 1.3


China

3.56

Local

Local2.97

32s 65/35

3.33

3.15

3.01

China

Local

3.40

Local

Local

3.56China

3.6060s 65/35

3.77

China21s 65/35

2.81

India

3.21

30s 65/35

45s 65/35

2.87



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(US$ / Kg)

Min Max Min Max

2.63 2.90 2.64 2.66 2.65 2.64 -5.2

2.68 2.95 2.70 2.78 2.77 2.76 -2.4

2.83 3.26 2.94 3.09 2.95 2.95 -9.8

2.49 2.78 2.49 2.53 2.50 2.49 -10.4

2.49 2.89 2.49 2.89 2.81 2.89 12.0

2.83 3.26 2.94 3.09 2.95 2.95 -9.8

2.80 3.52 2.95 3.28 2.96 2.95 2.5

3.09 3.55 3.10 3.42 3.12 3.12 -9.0

LocalPakistan

40/1

30/1 Local

Local

Product Specs

3.0540/1

India3.22

Local3.35

30/1

Term

18/1

2.8220/1

3.00India

2.67

2.74

3.00

3.12Pakistan

LocalPakistan

24/1 Bright

20/1

3.10

India Local3.10

Local

Pakistan Local

Last 12 mthsMarket

2.51

2.77

2.61 2.67

1-Nov

2.65Pakistan

Prev 6 wks

Polyester / Viscose Blended Yarn (65/35)

% YoY25-Oct




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(US$ / Kg)

Min Max Min Max

7.61 9.62 9.59 9.62 8.55 9.60 26.2

9.07 9.46 9.43 9.46 9.82 9.44 0.9

7.31 8.15 8.13 8.15 7.60 8.14 9.2

6.52 7.83 7.81 7.83 6.65 7.81 14.6

6.98 8.48 8.46 8.48 7.44 8.46 21.3

6.82 7.66 7.64 7.66 6.81 7.65 12.2

6.50 7.66 7.64 7.66 6.65 7.65 17.7


20D Bright Dry Spun

9.44

China

Local

Market

Local

9.32

30D Bright8.14

20D Bright Melt Spun China

7.1570D Bright

9.61Local

Prev 6 wks

140D Bright

Local

Term

Local

7.65

8.72

Last 12 mths

China

8.47

China

Spandex Yarn

40D Bright

Product Specs

Local

7.73

7.81

China

6.91

China

7.65

China

7.18

7.5840D Bright Warp Knitting

Local

1-Nov25-Oct % YoY



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►

►

(US$ / Ton)

Min Max Min Max

826 1,041 909 941 909 936 -3.4

661 805 751 770 751 758 -2.1Barges

Japan

Product Specs MarketLast 12 mths

With support from strong demand, naphtha margin in Asia reached 7-1/2-

month high of USUS$130.78 a ton this week. Japan's Mitsui Chemicals bought

a cargo for H2-December delivery, at two-digit premiums to Japan quotes on a

C&F basis. Malaysia-based Lotte Chemical Titan decided, however, to withdraw

a purchase tender for H2-December cargoes due to a lack of offers and after

Formosa bought naphtha for H1-December arrival at a premium of US$5-7 a

ton to Japan quotes. This reflected a sharp hike in prices as Formosa paid a

discount of US$1-3 a ton for cargo scheduled for H2 October previously.

Sentiment in the European naphtha market was boosted mid week by rising

demand from Asia, with the arbitrage east opened from the Mediterranean as

well as from northwest Europe. However, the gasoline/naphtha spread turned

negative for first time in 2013. The front-month spread was pegged at minus

US$2.50 a ton on Friday, having touched a 33-month low of minus US$2.75 a

ton Thursday, down from US$6.25 a ton Wednesday. It had briefly turned

negative in early November 2012.

Prev 6 wks

925

Term 1-Nov25-Oct

919CFR

Naphtha

% YoY

0

500

1,000

1,500


US

$/T

on

Japan CFR

Naphtha

2013 2012

661 805 751 770 751 758 -2.1

631 779 753 770 753 758 0.8

685 820 753 776 753 774 0.7

NA NA

NA NA

1.13 1.30 1.17 1.21 1.18 1.21

0.84 0.97 0.94 0.95 0.95 0.95

0.80 0.95 0.95 0.95 0.95 0.95

0.90 1.03 0.96 1.00 0.98 1.00


Barges

FOB 759Rotterdam

1.19

Mediterranean

Singapore764

NorthWest Europe

Far East

Singapore cargo / Asia crude CFR0.98

Med. cargoes / European Brent

Cargoes

0.90

Japan CFR / Asia crude CFR

0.95

CFR Bid

734

Swap bid

Cargoes761

0.95Rotterdam FOB / European Brent

718

741

0.92

1.20

Value Chain intensity

0.97



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►

►

(US$ / Barrel)

Min Max Min Max

98.09 118.10 107.82 110.30 107.82 108.38 -0.4

85.71 108.77 96.80 103.14 97.57 96.80 12.7

Europe brent

Prev 6 wks

109.01108.63

Term % YoY1-NovMarketLast 12 mths

Brent crude oil fell sharply this week end, tumbling by nearly US$3 a barrel,

and settling at its lowest point since early July, thus narrowing its premium

over US crude in heavy selling. Meanwhile US crude oil futures also sank to the

lowest since June, while Brent ended with its largest daily percentage loss also

since June. The markets shrugged Libya's oil supply outage and focused on a

strong US$ and a supply overhang that set an overall bearish market tone.

Reports showed US manufacturing sector expanding at its fastest pace in 2-1/2

years in October strengthened the US$ to its highest in more than one month.

Brent crude for December delivery settled at US$105.91 a barrel, a loss of 2.7

percent, its largest daily percentage loss since June 20. US oil for December

settled at US$94.61, posting a fourth straight week of losses and its longest

losing streak since June 2012. It was the lowest settlement price for the US

contract since 21 June at US$93.69.

IPE

25-Oct

Crude Oil

Spot

Product Specs

0

50

100

150


US

$/b

l

US Light

Crude Oil

2013 2012

85.71 108.77 96.80 103.14 97.57 96.80 12.7

97.23 114.50 106.14 107.32 106.36 106.14 0.2

85.88 108.67 96.93 103.12 97.77 96.93 12.9

96.27 111.35 105.13 107.08 105.25 105.13 3.0


USA100.80

Middle EastWt.

average

Spot

106.60

106.21

US Light

NYMEX Future FuturesUSA

AsiaCFR

Spot

105.98

104.60

OPEC

Far East

96.48

96.41

100.77



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