India & China witness opposing trends in PSF prices

PSF was traded at $1.27 per kg in the first quarter of last year. It increased by 2.36 per cent to reach $1.30 per kg in the following quarter. Later, it eased by 1.54 per cent to reach $1.28 per kg. The prices had an upward trend and gained 0.78 per cent to $1.29 per kg in October-December 2023. PSF came down again by 0.78 per cent to $1.28 per kg. Since January 2023, the prices gained around one per cent to reach the current level, according to Fibre2Fashion's market insight tool TexPro.

On the other hand, PSF was noted at $1.06 per kg in the Chinese domestic market in the first quarter of last year. It never saw an upward trend throughout the year. The raw material eased by 0.94 per cent to $1.05 per kg in the second quarter and by 0.95 per cent to $1.04 per kg in the third quarter of last year. The prices further slipped to $1.03 per kg in October-December 2023 but steadied in the current year at the same level.

However, Chinese FOB prices of polyester fibre had witnessed an upward trend till December 2023. But the prices slipped in the current year. It was noted at $1.28 per kg in the first quarter of last year. It gained 0.78 per cent to $1.29 per kg in April-June 2023. The prices remained steady in the following quarter but increased by 0.78 per cent to reach $1.30 per kg in the last quarter of the year 2024. However, PSF slumped by 2.31 per cent to come down to $1.27 per kg this year, as per TexPro.

It is important to note that the Indian government had implemented quality standards on polyester yarn and fibre in the second half of last year. It restricted imported supply in its domestic market. Therefore, domestic PSF prices were influenced by local manufacturers, especially in the last quarter of the year 2023. However, Chinese PSF prices decreased due to the fall in global crude oil prices.

Fibre2Fashion News Desk (KUL)