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Insight | Time: Jul 11 2019 9:20AM
Brief market review of polyester/nylon composite yarn in H1 2019
 
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Price of polyester/nylon composite yarn remained stable at first, plunged later and then rebounded in the first half of 2019. In Jan-Apr, price of polyester/nylon composite yarn was largely stable, curved a “V” tendency in May-Jun, with decrement as high as around 1,800yuan/mt from May to mid-Jun, and started rallying from late-Jun, with increment at around 900yuan/mt.


Price of polyester/nylon composite yarn mainly fluctuated with feedstock market. Price of semi-dull PET fiber chip started falling from mid-Apr and stopped decreasing until early-Jun, with decrement as high as around 1,500yuan/mt, but rapidly rebounded from mid-Jun, with increment at around 1,125yuan/mt, smaller than the decrement. Price reduction of nylon 6 CS bright chip was bigger, with decrement at around 2,600yuan/mt from H2 Apr to H1 Jun, while the increment since the H2 Jun was smaller than that of PET fiber chip, only around 500yuan/mt. Comprehensively, feedstock cost of polyester/nylon composite yarn (80/20) decreased from H2 Apr to early-Jun, with reduction at around 1,660yuan/mt, and the increment in H2 Jun was around 1,020yuan/mt.


Although price of polyester/nylon composite yarn was basically consistent with feedstock market, the specific time differed somewhat. Price of feedstock market declined in the second half of Apr, but that of polyester/nylon composite yarn was largely steady; thus, the processing gap apparently enlarged and cash flow improved. In the first half of May, price of polyester/nylon composite yarn headed south, narrowing the processing gap, but the processing gap enlarged to high level in the second half of May when reduction speed of polyester/nylon composite yarn was slower than that of feedstock market. In early-Jun, price reduction speed of polyester/nylon composite yarn was higher than that of feedstock market, so cash flow shrank, which substantially narrowed in mid-Jun with rebounding feedstock but falling yarn price. In late-Jun, price of polyester/nylon composite yarn followed the uptrend on feedstock market, so the processing gap was in upward correction. Generally, the cash flow of polyester/nylon composite yarn was tolerable in the first half of 2019.
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