Polyester filament yarn manufacturers also raised prices during the week. An Indian producer increased fully drawn yarn (FDY) prices by ****;* per kg with effect from July **, while partially oriented yarn (POY) and polyester textured yarn (PTY) prices were also raised by ****;* per kg from July **, reflecting higher polyester raw material costs. However, polyester staple fibre (PSF) prices remained unchanged during the week, with the next revision announced only from July **.
In China, polyester feedstock prices strengthened consistently during the week. CFR China PTA prices increased from $*** per tonne on July * to $*** per tonne on July * and $*** per tonne on July * before easing to $*** per tonne on July **. Similarly, MEG prices climbed steadily from $*** per tonne on July * to $*** per tonne on July *, $*** per tonne on July * and $*** per tonne on July **. The gains reflected improving sentiment across the Asian polyester value chain and firmer upstream energy markets.
Market participants said the rebound in crude oil and petrochemical prices improved sentiment across the polyester value chain, prompting domestic producers to revise feedstock and filament yarn prices upward. Nevertheless, downstream textile demand remained largely need-based, limiting aggressive buying despite the recovery in raw material prices.
