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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.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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