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Exhibition Status Update!

With 3 weeks until SHOWTIME, the 20th Anniversary edition welcomes an All-Star cast of new and returning exhibitors, making up the largest DOMOTEX asia/CHINAFLOOR to date. Due to high demand in all product...

Global designers to exhibit at Luxury Br…

Designers from Europe, Middle East and North America will exhibit at the upcoming Luxury Brands Carpet Show. The second edition of the curated Luxury Brands exhibition and designer carpet collection is scheduled to...

H&M to dress Swedish teams for Olymp…

Hennes and Mauritz Group (H&M) will dress the Swedish teams for the Winter Olympics and Paralympics in PyeongChang 2018. The company will create outfits for the opening and closing ceremonies. The collection will...

Saurer to show Allma TechnoCorder TC2 at…

Saurer Technologies GmbH & Co. KG Twisting Solutions, a leading provider of energy efficient solutions for tire cord, carpet, staple, glass filament, and industrial yarns, will present its Allma TechnoCorder TC2 innovative machine...

Cone Denim and Unifi launch S Gene with …

Cone Denim and Unifi have launched the latest in advanced stretch technology - S Gene with Repreve . Combining the advanced stretch technology of S Gene with the superior sustainability and performance of...

Shima Seiki to partake in Premiere Visio…

Leading computerised knitting machine developer, Shima Seiki Mfg., Ltd., is set to participate at the Premiere Vision show, a global event for fashion professionals, to be held in Paris, from February 13 to 15, 2018...

Measurably more productive and econom- i…

Even if the winding machine is only responsible for about 10-15% of the energy consumption (compressed air and electrical energy) when considering the classic ring spinning process, these criteria play an important role...

Wool to dominate at Intertextile Shangha…

Some 3,300 exhibitors from around 20 countries covering all apparel fabrics and accessories product groups are expected at the Spring Edition of the industry’s most comprehensive sourcing platform for the spring/summer season, Intertextile...

Low Raw Material Costs Bring Cheer To Polyester Yarn Makers

India

The price of texturised polyester yarn, the benchmark yarn variety, has fallen from Rs 120 a kg in March to Rs 105 a kg, owing to the drop in the prices of PX, PTA and MEG

With the prices of raw materials such as paraxylene (PX), PTA and MEG dropping over two months, polyester yarn makers are heaving a sigh of relief.

PX prices have fallen 11 per cent-- from $1,611 a million tonne (mt) on March 1 to $1,432.5 a mt. During the same period, PTA and MEG prices have dropped from $1,150 a mt to $1,051 a mt and $1,046 a mt to $997 a mt, respectively. The fall in PX prices was primarily due to the fall in crude oil prices.

"Currently, prices have stabilised. From here, the situation would be better. Last year, we utilised about 65 per cent of our total capacity; this year, we hope to utilise more than 80 per cent of capacity, as there is a revival in demand," said O P Lohia, chairman and managing director, Indo Rama Synthetics. For the quarter ended March, the company had recorded a net loss of Rs 38 crore, owing to high raw material prices.

The price of texturised polyester yarn, the benchmark yarn variety, has fallen from Rs 120 a kg in March to Rs 105 a kg, owing to the drop in the prices of PX, PTA and MEG. "Paraxylene prices have fallen in the last two months. This has led to a fall in PTA and MEG prices as well. This has helped us reduce our raw material costs and pass it to our users," said Jyotiprasad Chiripal, director of Chiripal Industries, which manufactures 200 tonnes of polyester yarn a day at its Ahmedabad plant.

According to a recent press release from Indo Rama Synthetics, earlier, PTA and MEG prices were high because of the tight PX environment. Also, as the high prices weren't passed to customer, the margins were low.

The domestic polyester yarn industry is facing tough competition from China. "The industry is facing demand issues, as China's synthetic yarn prices are lower than India's. Due to this, the Indian synthetic yarn industry is suffering," said Jayesh Pathak, president of the Bombay Yarn Merchants Association.

Polyester yarn makers are also struggling with over-capacity. "This is because of reduced demand in polyester products -right from fabric to raw materials," said Chiripal. Also, cotton prices have been low, while supply has been high. Due to this, demand for cotton has been higher than demand for polyester.

Source: Business Standard .

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