Nylon value chain prices likely to remain bearish, sentiments weak

According to Fibre2Fashion’s market insight tool TexPro, imported nylon chips (HS chip) is expected to trade at $2417.35 per ton in September 2022 which was priced at $2432.24 per ton in July. The prices may hover at around $2422.15 per ton.

Nylon filament yarn (FDY 70D/24F) may come down to $2.69 per kg in September 2022. The prices were noted at $2.72 per kg and expected to remain at $2.71 per kg.

As per fortnightly report of TexPro, benzene prices (FOB Korea) dropped to $1104.8 per ton in July from $1340.7 per ton of June 2022. While nylon chips (CFR SE Asia) also slipped to $2401 per ton from $2444.1 ton per ton of previous month. Nylon filament yarn (FOB NE Asia) prices reduced to $2701.2 per ton in July from $2809.5 per ton of June 2022.

Benzene prices tumbled in Asia due to dull regional buying sentiments during the last fortnight. The prices were quoted in the range of $1070 per ton to $1080 per ton in Korea in last two weeks. Nylon chips prices steadied in last two weeks due to average supply and demand. The prices are expected to weaken in the next week. The prices were ruling between $2395 per ton to $2405 per ton in Southeast Asian market, as per TexPro.

Nylon filament yarn was sold at $2.60 per kg to $2.70 per kg (FOB) in last fortnight. Lacklustre demand caused for weakening of the prices, which are expected to follow down trend.

Fibre2Fashion News Desk (KUL)