YnFx Monthly PriceWatch Report - April 2016

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MonthlyPriceWatch
TableofContents
IssueNo.4April2016
NotestoPriceWatchReport..
ConfidentialityStatement
Crudeoil&Naphtha...
POLYESTERCHAIN
Paraxylene.
Ethylene.
PurifiedTerephthalicAcid.
MonoEthyleneGlycol
PolyesterChips
PolyesterChips
PolyesterFilamentYarn
NYLONCHAIN
Benzene.
Caprolactum.
NylonChips
NylonFilamentYarn
ACRYLICCHAIN
Propylene
Acrylonitrile..
2
3
4
AcrylicStapleFibre.
11
VISCOSECHAIN
ViscoseStapleFibre
ViscoseFilamentYarn..
12
DissolvingPulp.......
COTTON
SPUNYARN
100%CottonSpunYarn
100%PolyesterSpunYarn.
100%ViscoseSpunYarn.
Polyester/CottonBlendedYarn
Polyester/ViscoseBlendedYarn.
5
5
6
6
6
7
7
8
8
9
9
10
10
12
12
13
14
15
15
16
16
Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

www.YnFx.comTel: 91 22 66291104 | Mob: 91-9619293725
NotestoReport
MARKETTERMS
FOB
CIF
C+F/CNF/CFR
FDorDelivered
Mainstreamoffer
Spot
Local
Contract
Exwork
FreeonBoard
Cost+insurance+Freight
Cost+Freight
Freedeliverywithin300sq.km
Mainmarketoffer
Mainmarketcashtransaction
Localmainmarketpricesinclusiveofallfederalandlocaltaxes
Producers'nominatedpriceforensuingmonth
Exfactoryprice
FarEastAsia
SouthEastAsia
China
Korea
Taiwan
Japan
Thailand
Malaysia
Indonesia
Phillipines
Singapore
MARKETSBYREGIONS
S.WestAsia
India
Pakistan
Europe
Rotterdam
ARA
USA
USGulf
CONVERSIONRATE
2.204
7.33
299
37.32
Pounds/kg
Barrels/Ton
Gallons/ton
Kgs/Maund
355.60
Kgs/Candy
ConfidentialityStatement
This document is confidential and has been made available to the individual to whom it is addressed on the
understanding that its content and copyrights will not be misused. Reproduction of any part of this work by
any process whatsoever without written permission of YNFX.com is strictly prohibited. The levels are
publishedtousepurelyasaguide.
All prices in this PriceWatch Report are indicative prices and may vary according to the type of fiber, quality
level required. Information contained in this report is obtained from sources believed to be reliable,
however YNFX.com will accept no responsibility or liability for commercial decisions claimed to have been
basedonthecontentofthereport.

CrudeOil&Naphtha
up US$7.32 from February and Brent averaged
US$38.56, up US$6.56 on the month. Asian naphtha
market sentiment was positive in March amid
indications of a shortage of prompt cargoes. Only 1.4
1.5 million ton a month of arbitrage cargo was slated
to arrive in Asia in the second half of 2016. The
naphtha crack against ICE Brent crude was at its
widest in two months due to strong buying interest
for the petrochemical feedstock and shrinking supply.
For March, spot naphtha prices were up 16.6% to
averageUS$375.10atonCFRJapan.
70
70
700
60
60
600
50
50
500
40
40
400
30
30
300
20
20
200
CrudeOil
10
10
Naphtha
100
Month
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
Japan
CFR
US$/ton
530.29
551.33
575.10
562.44
502.80
436.41
441.73
458.68
452.29
423.58
346.22
321.66
375.10
29.26
491.52
497.97
347.66
30.18
NWE($/bbrl)
NymexFuture
CrudeOil
NYMEX
Europe
Future
Brent
$/bbrl
47.85
55.89
54.06
59.07
59.33
64.37
59.92
61.66
51.84
56.63
42.57
46.51
45.55
47.77
46.11
48.25
43.00
44.29
37.46
38.14
31.65
30.93
30.43
32.00
37.83
38.56
20.93
31.01
48.81
52.37
48.64
53.92
33.30
33.83
31.53
37.26
0
A
EuropeBrent
0
M
US$/ton
Crude oil prices jumped in March after the world's

energy watchdog International Energy Agency stated
that the market might have bottomed out. It believes
nonOPEC output will fall by 750,000 barrels per day
this year, some 25% more than the 600,000 bpd it
previously forecast. Over the past six weeks, oil
rebounded from 12year lows, after major producers
within and outside the OPEC floated the idea of
freezing output at January's highs. US crude prices rose
24.25% on the month while Brent was up 20.5% as
compared to previous months average. US Futures
averagedUS$37.50abarrel,
CFRJapan($/ton)
Naphtha
USGulf
Med. Singapore
(Contract)
Cargoes Cargoes
$/bbrl
52.55
57.38
65.39
54.42
59.56
66.71
58.37
62.04
72.88
56.05
60.89
72.73
48.48
53.15
57.74
42.33
45.76
50.54
43.00
46.81
52.10
45.25
48.92
52.62
44.06
48.95
52.78
40.29
45.69
47.04
33.42
36.78
36.87
30.99
33.97
33.03
36.49
37.54
40.30
30.55
34.57
38.37
48.10
52.65
59.35
48.33
53.33
62.37
33.63
36.10
36.73
30.41
32.32
41.10

PolyesterChainEthylene&Paraxylene
26.9027.40 per pound FD USG. Paraxylene prices in
Asian markets climbed in March on upward trend in
upstream energy complex. In US, spot paraxylene
prices gained on Asian rise while downstream demand
was firm. In Europe, expectations for the April
paraxylene contract price turned increasingly bullish,
following a large rise in the Asia settlement. Asian
marker, the CFR China averaged US$799.67800.67 a
ton, up 8.3% from last month while European
paraxylene climbed 8.4% to US$693.60 a ton FOB
Rotterdam. In US, spot paraxylene was assessed at
US$735atonFOBUSG,up11.3%onthemonth.
40
1,700
1,500
30
1,300
20
1,100
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
Korea
FOB
825
892
923
913
855
779
769
787
773
752
700
718
779
5.6
822
806
732
9.2
Paraxylene
China
Taiwan
Spot
CFR
US$/ton
751
847
815
913
839
944
848
934
854
876
778
800
740
790
725
808
700
794
677
773
628
721
640
738
694
800
7.6
5.6
765
839
734
812
654
753
10.9
7.3
Rdam
FOB
847
913
944
934
876
800
790
808
794
773
721
738
800
5.6
843
828
753
9.2
NWE
FD
Euro/ton
845
1,039
1,180
1,212
1,061
990
835
749
873
842
783
741
765
9.5
925
772
763
1.1
Korea
700
USG(RHS)
Ethylene
SEAsia
USGulf NEAsia
CFR
CFR
FD
US$/ton
ct/lb
34
1,128
1,209
35
1,368
1,423
36
1,369
1,387
35
1,410
1,417
34
1,206
1,149
25
939
893
21
855
825
22
951
945
22
1,043
1,057
18
1,067
1,079
18
988
998
20
927
928
27
1,174
1,139
20.7
4.1
5.8
30
1,099
1,104
35
992
1,025
21
1,029
1,022
39.1
3.7
0.3
M
UScr/Lb
Rdam
Ethylene
M
US$/ton
Korea
Month
10
900
Paraxylene
M
1,500
1,300
1,100
900
700
500
300
100
100
US$/ton
Ethylene prices in Asian markets rose significantly in

March as demand from styrene monomer makers
increased amid short supply. Prices were also supported
by rising crude oil and disruption in ethane supply in
America. In Europe, contract price was fully settled up on
the month while spot trading spot prices rose amid lack
of availability. In US, spot rose due to maintenance
season while initial March contract price hiked on the
month. Prices averaged US$1,1391,141 a ton CFR SE
Asia, up 22.7% from February while European spot edged
up 3.2% to average Euro764.60768.60 a ton FD NWE. US
spotpricessurged36.6%toUScents
Korea
FOB
1,094
1,323
1,339
1,402
1,173
939
939
1,019
1,052
988
917
1,159
5.9
1,095
954
1,021
7.0

PolyesterChainMEG,PTA&PETChip
jumped on firm upstream and PTA futures while
unexpected shutdown supported the push. China's
Hanbang unexpectedly shuts its new 2.2 million ton a
year PTA plant. Prices averaged US$598.20600.20 a
ton CFR China, up 6.6% from February while European
price was at Euro631 a ton FD NWE, inched up 0.9%
on the month. Polyester chip prices moved in tandem
with the upstream markets and were bullish although
trading was insipid during the month. Offers for semi
dull chips up 10.7% to US$921944 a ton and super
bright chip rose 10.6% to US$940956 a ton from
February.
1,400
1,200
1,100
1,000
Polyester Chips
1,200
PTA&MEG
1,000
800
900
800
700
600
500
600
400
PTA
Month
Korea/
TaiwanFOB
China
Spot
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
644
707
764
745
677
596
571
606
614
593
568
575
615
4.4
643
615
586
4.7
623
688
739
720
660
589
569
601
606
578
549
561
598
3.9
629
598
569
4.7
MEG
Korea/Taiwa
CIF
n
China
US$/ton
825
822
921
919
965
963
951
945
873
856
742
731
688
685
658
655
596
593
579
576
578
575
640
637
706
703
14.3
14.5
780
773
795
785
641
639
19.3
18.7
China
US$/ton
MEGKorea
PTAKorea
200
M
US$/ton
Mono ethylene glycol prices in March rose in Asian

markets on firmer futures in China amid rising crude
values while plant issues tightened supplies. In US,
MEG spot tracked Asian numbers and gains in
feedstock. Supply was tight due to maintenances. In
Europe, MEG spot prices were up on tight availability
amid stable demand and limited imports. MEG prices
averaged US$703.40708.40 a ton FOB SE Asia, up
10.4% in March while European spot was at Euro740 a
ton NWE FCA, up 13.8% from February. US spot was at
US cents 30.5031.50 per pound FOB USG, up 15.1% on
themonth.PurifiedterephthalicacidpricesinAsia
Taiwan
Polychips
China
TaiwanFOB
Spot
1,032
1,137
1,174
1,135
1,069
986
953
930
918
840
816
833
921
10.8
1,016
1,018
857
15.8
1,088
1,190
1,206
1,150
1,125
1,088
1,065
1,070
1,066
1,009
995
1,009
1,080
0.7
1,104
1,092
1,028
5.8

PolyesterChainPFY&PSF
Polyester filament yarn prices climbed in March on rising
PTA and MEG values while rising crude oil prices lifted
the entire polyester chain in China. Overall trading
sentiment was favorable, and some makers even closed
offers through raising selling ideas. In India, trading
activities for POYs were brisk with modest demand from
mills. In Pakistan, DTY prices were stable on the month.
In China, POY 75/72 prices were at US$1.141.16 a kg, up
US cents 11 in Shengze while Indian POY 130/34 prices
were up US cents 10 at US$1.31 a kg. In Pakistan, 300/96
DTY prices were pegged at US$0.620.71 a pound.
PolyesterstaplefibrepricesinChinawerepushed
up on rising raw material costs and stock markets. In

Pakistan, PSF prices moved up after the import offers
rebounded sharply from China. However, weak
demand persisted due to surge of imports of polyester
yarns. In India, waitandsee atmosphere got stronger
in PSF market, and prices were raised on cost support.
In China, 1.4D PSF was at US$1.051.08 a kg, up US
cents 10 from February. In India, 1.2D PSF prices were
at US$1.17 per kg, up US cents 9 on the month. In
Pakistan, prices in Karachi were at US$1.041.06 a kg,
upUScents2frompreviousmonth.
2.00
1.50
1.50
1.00
1.00
0.50
0.50
PolyesterFilamentYarn
Month
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
Pak
PSF(1.41.5D/38mm)
Pak
China
India
Indiaspot
Spot 130/34POY
Spot
Spot
US$/Kg
1.16
1.27
1.18
1.47
1.23
1.26
1.18
1.46
1.29
1.34
1.30
1.44
1.25
1.35
1.34
1.46
1.17
1.32
1.31
1.37
1.11
1.23
1.21
1.29
1.10
1.18
1.13
1.24
1.08
1.20
1.10
1.26
1.06
1.18
1.09
1.24
1.00
1.10
1.07
1.23
0.94
1.09
1.04
1.22
0.96
1.08
1.02
1.21
1.06
1.17
1.04
1.31
8.98
8.34 11.42
10.76
1.15
1.25
1.21
1.37
1.15
1.26
1.25
1.48
0.99
1.11
1.04
1.25
14.59 11.58 16.89
15.83
China
0.00
M
India
US$/kg
China
0.00
M
US$/Kg
PolyesterStapleFiber
India
PFY
ChinaSpot
POY75/36
1.27
1.45
1.50
1.36
1.32
1.15
1.13
1.11
1.11
1.07
1.01
1.01
1.13
10.61
1.25
1.26
1.05
16.81
ChinaSpot
Pakspot
ChinaSpot
DTY75/72* 75/48/0DTY FDY50/24
US$/Kg
1.74
2.16
1.43
1.90
2.17
1.56
2.00
2.20
1.61
1.96
2.21
1.46
1.88
2.21
1.40
1.68
2.19
1.29
1.63
2.15
1.27
1.59
2.15
1.25
1.58
2.14
1.24
1.54
2.15
1.16
1.48
2.14
1.12
1.49
2.15
1.14
1.56
2.15
1.28
10.05
0.71
10.87
1.75
2.18
1.37
1.75
2.20
1.42
1.51
2.15
1.18
13.45
2.22
17.15

NylonChainBenzene&Caprolactum
1,000
2,500
800
2,000
600
1,500
400
1,000
500
Month
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
Korea
FOB
US$/ton
760
821
774
810
781
629
578
599
626
592
551
546
628
17.3
687
678
575
15.2
Caprolactum
Benzene
USGulf
Rotterdam
CIF
FOB
FOB
ARA
US$/ton
cts/gal
246 716
706
276 835
825
256 813
803
277 856
846
282 861
851
228 699
689
204 570
564
213 605
605
230 642
642
214 638
638
191 621
611
183 601
591
207 666
656
15.9
7.0
7.1
237 705
698
222 646
636
194 629
619
12.8
2.6
2.7
FEA
CFR
1,633
1,694
1,750
1,745
1,636
1,480
1,352
1,336
1,288
1,246
1,120
1,065
1,180
27.7
1,524
1,586
1,122
29.3
FEACFR
Rotterdam
Korea
US$/ton
Benzene
200
US$/ton
month on decent downstream demand and tight

supply. In China, offers for liquid and solid caprolactum
in spot market edged up. As for demand, run rates of
polymerization units were up amid falling inventory
while nylon yarn makers also upped their run rate but
inventory was still worth at 25 days. Asian caprolactum
spot prices averaged US$1,1801,218 a ton in March,
up 10.8% from last month. Sinopec settled its March
contract at US$1,620 a ton for liquid goods while DSM
Nanjing announced settlement for March at US$1,625 a
tonforliquidgoods.
Benzene prices in Asian markets pushed up on rising

crude oil values in March. In US, benzene spot rose on
the month on strong demand and lower imports. Rise
in crude futures also helped spot assessments for
March to surge. In Europe, spot benzene saw modest
rise in prices on strong demand from styrene makers.
Asian marker, FOB Korea rose 15.1% in March to
average US$628.10629.10 a ton while US spot prices
moved up 13.2% to US cents 206.95207.05 per gallon
FOB USG. European spot jumped 10.9% to average
US$666.40667.40 a ton CIF ARA and FOB Rotterdam.
Caprolactumpriceswereuponthe
ChinaSpot
Caprolactam
CIF
China
US$/ton
1,665
1,728
1,800
1,788
1,694
1,550
1,410
1,404
1,405
1,325
1,175
1,115
1,234
25.9
1,593
1,672
1,175
29.7
China
Spot
2,138
2,285
2,372
2,316
2,120
1,877
1,834
1,776
1,613
1,550
1,509
1,516
1,574
26.4
1,990
2,046
1,533
25.1

NylonChainPolyamideChip&NFY
Nylon chip market trended upward in March with an
uptick in caprolactum prices and capped benzene
upside in Asia. Demand improved as downstream
converters ramped up production, leading to
increased consumption of nylon chips. The high run
rate at chip makers lead to ample supply and slow
liquidity, and with increased cost pressure and thin
margins, chip suppliers kept running units at high
level. Offers for Taiwanorigin chips averaged
US$1,4681,494 a ton, up 3.4% from last month. In
China, bright conventional spinning nylon6 chips
were priced at US$1,6881,829, up 7.3% from
Februarywhile
semidull chips were offered at US$1,7131,823 a ton,

up 7.8% on the month. NFY markets were under severe
cost pressure and hike in prices were met with
resistance during the month. Nylon yarn makers had
ramped up operating rate with expectation that
fundamentals will become favorable. Downstream
circularknitting mills, weaving mills and covering mills
operated at modest capacities on the back of better
demand from replenishment season. In China, semi
dull FDY70D/24F was traded at US$2.212.31 a kg, up
US cents 7 from previous month while FDY40D were at
US$2.402.60akg,upUScents.
4.00
3,000
NylonFilamentYarn
3.50
PolyamideChips
US$/ton
3.00
2,000
2.50
2.00
1.50
1,000
1.00
KoreaFOB
Month
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
1,968
2,050
2,115
2,103
1,976
1,825
1,676
1,672
1,635
1,550
1,465
1,418
1,470
25.3
1,867
1,936
1,451
25.1
CIFChina
FOBKorea
SDhighspeed
US$/ton
1,968 2,023
2,052 2,124
2,123 2,165
2,103 2,140
1,984 2,042
1,828 1,924
1,678 1,830
1,672 1,820
1,638 1,790
1,552 1,728
1,465 1,650
1,420 1,595
1,468 1,650
25.4
18.4
1,871 1,975
1,943 2,045
1,451 1,632
25.3
20.2
ChinaSpot
ConvChips FDY70/24
2,248
2,412
2,462
2,314
2,083
1,838
1,856
1,807
1,676
1,652
1,574
1,574
1,688
24.9
2,047
2,155
1,612
25.2
2.95
3.04
3.11
3.07
2.94
2.57
2.47
2.47
2.42
2.30
2.16
2.14
2.21
25.1
2.79
3.01
2.17
27.9
FDY70/24
PolyamideChips
CIFSEA
0.00
M
SEACIF
US$/kg
0.50
FDY40/12
NylonFilamentYarn
ChinaSpot
FDY40/12 DTY70/24
US$/kg
3.29 3.15
3.41 3.25
3.43 3.27
3.35 3.20
3.16 3.13
2.87 2.79
2.71 2.67
2.69 2.68
2.63 2.63
2.50 2.53
2.36 2.37
2.30 2.37
2.40 2.43
27.2
22.8
3.06 2.98
3.32 3.20
2.35 2.39
29.1
25.2
DTY30/12
4.13
4.13
4.17
4.09
3.92
3.64
3.49
3.46
3.41
3.27
3.15
3.14
3.11
24.6
3.83
4.12
3.13
24.0

AcrylicChainPropylene&Acrylonitrile
Propylene prices in Asian markets surged in March on
strong demand from China while cracker turnaround
season crimped supply. In US, propylene spot climbed
amid outages while April contracts were talked higher.
European propylene prices rose amid tight market and
stronger fundamentals in April on maintenance. Asian
marker, FOB Korea averaged US$647649 a ton, up
10.3% from February while CFR China was at US$689
691 a ton, up 10.4% from previous month. In Europe, CG
propylene rose 5.6% to Euro 410414 a ton FD while
refinerygrade spot prices in US were at US cents 20.75
21.25perpoundFDUSG.
Acrylonitrile prices in Asian markets slipped on ample

supply amid thin trading as buyers were on the
sidelines, awaiting overseas offers. In Europe, fewer
import offers for acrylonitrile were heard which
allowed regional price to rise. In US, spot acrylonitrile
was stagnant, however, demand was stable during the
month. European prices were up 5.3% to US$850854
a ton CIF Med while US export assessments averaged
at US$796806 a ton USG, edged down 0.8% on the
month. Asian marker, the CFR Far East Asia declined
4.2%toaverageUS$934936aton.
2,000
1,500
Propylene
1,500
1,000
1,000
500
500
Month
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
FOB
Korea
985
1,004
962
950
862
788
594
544
574
582
557
586
647
34.3
787
862
597
30.8
FOB
Japan
US$/ton
981
1,006
956
942
847
775
569
582
557
586
647
34.0
823
851
597
29.9
Propylene
CFR
NWEFD
China
Euro/ton
1,040
846
1,054
948
1,008
991
1,000
1,016
906
927
826
821
640
596
591
578
612
562
627
507
597
418
625
388
699
410
32.8
51.5
835
764
917
739
640
405
30.2
45.2
USA
Spot
Cts/lb
41.94
35.31
35.63
33.63
27.75
21.81
16.43
18.50
18.08
18.45
18.75
100.0
29.69
43.58
18.75
57.0
CFR
China
1,431
1,350
1,350
1,350
1,266
1,185
1,070
1,000
1,028
1,140
1,075
1,010
920
35.7
1,291
1,584
1,002
36.8
CIFMed
0
M
NWEFD
US$/ton
KoreaFOB
US$/ton
Acrylonitrile
0
CFRChina
Acrylonitrile
USGulf
CIF
FOB
Med
US$/ton
1,325
1,418
1,287
1,400
1,264
1,373
1,200
1,313
1,176
1,261
1,033
1,163
959
1,058
834
971
819
923
819
859
825
833
803
807
796
850
39.9
40.1
1,140
1,233
1,432
1,492
808
830
43.6
44.4
CFR
FEA
1,489
1,428
1,419
1,347
1,268
1,194
1,072
993
1,013
1,125
1,034
975
934
37.3
1,313
1,631
981
39.8

AcrylicChainASF
Acrylic staple fibre market saw prices moving up in
China while the overall level was in a narrow range in
March. In China, run rate dropped during the month as
Ningbo Zhongxin was on planned maintenance
shutdown, tightening overall supply somewhat.
Sinopec issued monthly settlement prices, in
accordance with monthly average price, and fresh list
prices were flat to mid March level. In India, ASF prices
moved up while buying interest remained subdued,
given lackluster performances of yarn and fabric. Prices
in Pakistan generally rolled over amid insipid yarn
markets.InChina,offers
for cottontype staple fiber were up by US cents 4 at

US$1.831.99 a kg and mediumlength staple at
US$1.831.98 a kg, up by US cents 3 on the month.
Taiwan origin 3D bright ASF tow prices were at
US$1.551.65 a kg while offers for regular products
were at US$1.501.55 a kg. Anqing Petrochemical and
Qilu Petrochemical nominated 1.5D cottontype fiber
at US$1.931.95 a kg. In Pakistan, 1.2D ASF prices
were averaging at US$1.83 a kg in March, down US
cents 3 from February. Indian ASF prices were at
US$1.89akg,upUScents5fromlastmonth.
4.00
AcrylicStapleFiber
3.00
2.00
China
India
0.00
US$/kg
1.00
Pakistan
AcrylicStapleFibre
ChinaSpot FOBTaiwan KarachiSpot
1.5D/38mm
1.2/51mm
Month
US$/kg
Mar15
2.39 2.22 3.04
Apr15
2.40 2.22 3.05
May15
2.44 2.22 3.04
Jun15
2.45 2.22 3.04
Jul15
2.46 2.22 2.98
Aug15
2.39 2.22 2.68
Sep15
2.26 2.00 2.63
Oct15
2.08 1.78 2.36
Nov15
1.95 1.65 2.28
Dec15
1.81 1.60 2.25
Jan16
1.78 1.60 2.05
Feb16
1.79 1.56 1.89
Mar16
1.83 1.57 1.86
%YoY
23.4
29.5
38.8
2015
2.32 2.09 2.79
JanMar2015 2.52 2.31 3.06
JanMar2016 1.80 1.58 1.93
%YoY
28.6
31.9
36.8
IndiaSpot
1.5D
IndiaSpot
3.0D
2.38
2.30
2.32
2.43
2.36
2.25
2.18
2.16
1.95
1.94
1.87
1.84
1.89
20.9
2.30
2.57
1.87
27.4
2.38
2.30
2.32
2.43
2.36
2.25
2.18
2.16
1.95
1.95
1.90
1.87
1.92
19.7
2.30
2.57
1.90
26.2

ViscoseChainVSF&VFY,PULP
Viscose staple fibre prices moved up in March as
producers in China raised offers for mediumend and
highend goods and transactions turned to be brisk. In
China, offers for VSF averaged US$2.08 a kg, up US
cents 14 on the month. In India, VSF prices edged up
seeing low inventories and more fresh deals. VSF prices
in Pakistan rolled over seeing supply tightness in China.
In Pakistan, 1.5D VSF prices were at US$2.13 a kg, up
US cents 3 on the month. In India, producers prices
were at US$2.11 a kg, up US cents 5 from last month.
Viscose filament yarn prices in March climbed in China
andproducersmainlyliquidatedtheirstock
in accordance with market prevailing prices, and

overall industry operation was favorable. Trading
atmosphere in VFY market was healthy in India amid
firm demand from export markets. In China, 120D dull
VFY offers averaged US$6.10 a kg, up US cents 5 while
bright was at US$6.07 a kg, up US cents 4. In India,
120D bright VFY was at US$5.635.70 a kg, up US
cents 13 from last month. Dissolving pulp market saw
passable firm deals and downstream converters
bought moderate volumes. Offers for hardwood pulp
were at US$840 a ton while softwood pulp was at
US$860aton.
2.60
8.00
ViscoseStapleFiber
7.00
2.20
6.50
6.00
Pakistan
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
Karachispot Chinaspot KharachFOB

1.5D/38mm
1.52DBrtBlch
1.91
1.92
2.02
2.09
2.16
2.15
2.11
2.07
2.05
2.08
2.10
2.10
2.13
11.3
2.03
1.92
2.11
9.7
1.85
1.95
2.04
2.04
2.12
2.12
2.23
2.28
2.27
2.09
1.88
1.94
2.08
12.4
2.06
1.85
1.97
6.1
2.20
2.20
2.21
2.21
2.22
2.16
2.13
2.17
2.13
2.12
2.09
2.06
2.11
4.1
2.18
2.21
2.09
5.6
Indiaspot
120DBrt
US$/kg
6.06
6.03
5.95
5.93
5.91
5.77
5.69
5.78
5.68
5.65
5.58
5.50
5.63
7.2
5.89
6.10
5.57
8.7
Chinaspot
133.33dtexbright
6.14
6.22
6.36
6.39
6.41
6.20
6.16
6.20
6.19
6.10
6.00
6.03
6.08
0.9
6.22
6.13
6.04
1.5
China
VFY
VSF
Month
5.00
India
US$/kg
China
5.50
M
US$/kg
2.00
1.80
ViscoseFilamentYarn
7.50
2.40
India
DissolvingPulp
ChinaCIF
Staplegrade
800.00
800.80
811.00
822.25
836.00
855.50
867.80
880.60
897.25
897.20
846.75
838.00
838.40
4.8
839.28
801.00
841.05
5.0

Cotton
US cotton futures slipped in March on news that
world's top consumer China is preparing to auction off
some of its stockpile in April, potentially unleashing
fresh supply in an already saturated global market. US
government planting intentions report indicated that
US farmers would plant 9.56 million acres under
cotton this year, slightly more than trade
expectations. The May contract on ICE Futures US
were down 2.6% for the month to average US cents
57.52. The Cotlook A index slipped 0.9% closing March
at an average of US cents 65.63 per pound. The China
CottonIndexincheddown3%to11,866.20yuana
ton. In Pakistan, cotton market extended the slide

amid modest trading in March. According to reports,
quality cotton was not available and spinners were
keen buy fine type and their psychological level.
Meanwhile, cotton growers were shifting their
position to another crop due to losses. The official
spot rate averaged PakRs5,405 per maund exKarachi,
down 1.2% on the month. In India, cotton prices were
down on slack demand. Demand from mills was
subdued while arrival too decreased. Most varieties
sawpricesplunge1.29.4%inMarch.
100
Cotton
80
CotlookA
cts/lb
40
60
NewYorkFutures
Cotton
Month
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
NewYork
CFRAsia
Futures
CotlookA
Ct/lb
62.46 69.46
65.33 71.93
65.16 72.75
64.64 72.35
65.52 72.16
65.33 71.63
61.66 68.89
62.34 68.73
61.50 69.28
63.51 70.21
61.60 68.56
59.20 66.21
57.67 65.63
7.7
5.5
63.34 70.43
61.68 69.06
59.49 66.80
3.6
3.3
PakistanSpot
KCA
PakRs/maund
5,213
5,430
5,613
5,550
4,850
4,673
4,805
5,281
5,389
5,375
5,535
5,473
5,405
3.7
5,186
5,088
5,471
7.5
ChinaSpot
CCI
Yuan/ton
13,466
13,421
13,358
13,315
13,182
13,117
13,063
13,038
12,967
12,929
12,580
12,239
11,866
11.9
13,231
13,459
12,229
9.1
IndiaSpot
Shankar6
INR/candy
31,025
33,280
34,875
34,250
34,260
34,000
34,850
32,380
32,225
33,240
33,625
33,425
32,640
5.2
32,988
30,833
33,230
7.8

SpunYarn100%Cotton
Cotton yarn prices in China were stable to up in March
for some specs amid thin transaction and units were
mostly running at 70% of capacity. Spinning mills were
adjusting their production as the weather turned
warmer and saw smoother sales for low/medium
count yarn. Prices were pushed higher in line with the
upticks in spun polyester and viscose yarn markets. In
India, cotton yarn prices were slightly up on the
month, due to lower level of inventories compared
with the end of last year. The fall of cotton yarn
exports from India to China was partly offset by a rise
toother
destinations, thus export markets were supportive. In

Pakistan, cotton prices moved down while yarn price
continued to remain relatively firm after a recovery in
demand in the domestic and export markets. In China,
32s cotton yarn in Shengze market was pegged at
US$2.882.94 a kg while 21s were at US$2.732.85 a
kg, up US cents 4 from February. In India, 30s combed
for knitting were at US$2.58 a kg, up US cents 4 on the
month while carded were at US$2.30 a kg, up US
cents 3 from previous month. In Pakistan, 30s carded
yarn for weaving was at US$2.64 a kg, down US cents
2onthemonth.
5.00
100%30sCottonYarn
4.50
4.00
3.50
3.00
India
Month
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
Pakistan
2.00
US$/kg
2.50
China
100%CottonYarn
Indiaspot
PakistanSpot
30sKnit
30sWeav
20s
32s
US$/kg
3.06 3.03 2.03
2.52
3.02 2.99 2.09
2.44
3.04 3.01 2.15
2.60
3.01 2.98 2.16
2.75
2.99 2.96 2.14
2.74
2.81 2.78 2.08
2.44
2.68 2.65 1.90
2.21
2.74 2.71 1.87
2.12
2.70 2.67 2.18
2.42
2.65 2.62 2.12
2.44
2.76 2.73 1.87
2.49
2.69 2.66 1.91
2.53
2.7
2.7 1.99
2.48
11.0
11.1
1.8
1.4
2.88 2.86 2.08
2.48
2.99 2.98 2.10
2.51
2.7
2.7 1.92
2.50
8.8
9.5
8.3
0.4
ChinaSpot
21s
32s
2.65
2.63
2.62
2.60
2.53
2.34
2.28
2.27
2.25
2.19
2.15
2.16
2.17
18.2
2.48
2.70
2.16
20.1
3.38
3.37
3.37
3.34
3.30
3.15
3.11
3.10
3.08
2.99
2.91
2.92
2.92
13.6
3.25
3.40
2.92
14.1

100%PolyesterandViscoseYarn
Spun polyester yarn offers in China went up in March
driven by rising PSF cost and buyers purchased raw
materials in a moderate volume to replenish
inventories. In India, spun polyester price rose due to
hike in PSF prices during the month. In Pakistan, yarn
prices were also pushed up on rising polyester staple
fibre prices after the imports offer from China
rebounded. In Shengze, offers for 32s polyester yarn
were at US$1.731.77 a kg, up US cents 18 on the
month. In India, 30 polyester knit yarns were at
US$1.86 a kg, up US cents 8 in Ludhiana market. In
Pakistan,30sspunpolyesterwasat
2.50
100%32sPolyesterYarn
2.00
3.50
1.50
2.50
1.00
2.00
China
Month
21s
Mar15
Apr15
May15
Jun15
Jul15
Aug15
Sep15
Oct15
Nov15
Dec15
Jan16
Feb16
Mar16
%YoY
2015
JanMar2015
JanMar2016
%YoY
1.70
1.78
1.88
1.81
1.70
1.60
1.59
1.58
1.54
1.41
1.36
1.38
1.56
8.0
1.66
1.69
1.43
15.1
100%Polyesteryarn
Chinaspot
32s
45s
50S
1.87
1.96
2.04
1.98
1.88
1.75
1.76
1.75
1.69
1.58
1.53
1.56
1.72
8.3
1.83
1.86
1.60
13.9
2.02
2.09
2.20
2.18
2.06
1.94
1.91
1.91
1.86
1.75
1.70
1.72
1.85
8.5
1.99
2.01
1.75
12.9
2.11
2.19
2.30
2.29
2.21
2.09
2.04
2.00
1.98
1.86
1.80
1.81
1.93
8.3
2.11
2.11
1.85
12.3
60s
US$/kg
2.29
2.35
2.40
2.35
2.31
2.23
2.24
2.27
2.25
2.17
2.10
2.11
2.15
6.3
2.29
2.30
2.12
7.8
1.00
US$/kg
1.50
M
0.00
100%30sViscoseYarn
3.00
0.50
US$/kg
US$2.32 a kg, up US cents 5. Viscose spun yarn

prices climbed up in China on firm cost support
and favourable downstream buying activity,
but actual transactions were lackluster. In
Pakistan, viscose yarn producers had reduced
their stocks in the first half of March and were
not willing to lower their offers during the
month, as a result. In India, spun viscose yarn
prices gained in line with the recent rise in
fibre prices. In Xiaoshan, 30s spun viscose were
at US$2.86 a kg, up US cents 17 from previous
month. In India, 30s viscose prices were at
US$2.58 a kg, up US cents 15 in Indore market.
In Pakistan 30s rolled over at US$2 64 a kg in
China
100%Viscoseyarn
Chinaspot
Pakspot
40/1
10s
20s
1.53
1.53
1.53
1.54
1.57
1.56
1.53
1.53
1.52
1.53
1.45
1.39
1.39
9.5
1.54
1.54
1.41
8.3
2.36
2.40
2.47
2.47
2.48
2.44
2.48
2.54
2.54
2.44
2.35
2.37
2.48
5.3
2.45
2.36
2.40
1.7
2.46
2.52
2.60
2.60
2.61
2.57
2.62
2.70
2.70
2.60
2.49
2.53
2.65
7.9
2.57
2.46
2.56
4.0
30s
2.55
2.63
2.73
2.73
2.71
2.70
2.76
2.86
2.84
2.77
2.66
2.70
2.82
10.4
2.70
2.55
2.72
6.9

SpunyarnPolyester/Cotton&Polyester/Viscose
Blended yarn prices in China were stable in March, in
line with a similar trend in fibre prices. In Pakistan,
polyestercotton yarn prices were increasing due to a
recovery of demand from the downstream textile
industry, especially home textile producers. The surge
was more visible with polycotton yarns, which were
being supported by a fresh rise in polyester prices. PSF
prices have increased 7.6% over the last four weeks.
Larger sales were reported for PC and fine count yarns
on the Faisalabad and Karachi yarn markets during the
month, although prices have been raised. In India, the
recenthikeinPSFprices
supported PV and PC yarn prices to rise in March.

Further, prices were pushed up due to improved
demand in domestic and export markets. In India, PC
30s (52/48) were at US$2.46 a kg in Ludhiana market,
up US cents 18 on the month while PV 30s (65/35)
were at US$2.13 a kg, up US cents 7 from last month.
In Pakistan, 30s were at US$2.36 a kg, up US cents 5
on the Faisalabad market. In Qianqing market,
polyestercotton 32s were traded at US$2.35 a kg, up
US cent 1 while 45s (65/35) yarn were at US$3.26 a
kg,rollingoverfromlastmonth.
4.00
5.00
30sPVYarn
30sPCYarn
4.00
3.50
3.00
3.00
China
Pakistan
India
Polyester/Cottonyarn
Chinaspot
Indiaspot
Month
21S
32S
30s
US$/kg
Mar15
2.28 2.48 2.02
Apr15
2.31 2.52 2.00
May15
2.36 2.56 1.98
Jun15
2.32 2.51 1.97
Jul15
2.31 2.49 1.98
Aug15
2.19 2.38 1.93
Sep15
2.15 2.33 1.91
Oct15
2.15 2.32 1.94
Nov15
2.11 2.29 1.90
Dec15
2.02 2.19 1.89
Jan16
1.94 2.11 1.87
Feb16
1.95 2.11 1.84
Mar16
1.96 2.13 1.89
%YoY
14.4
14.3
6.5
2015
2.24 2.42 1.97
JanMar2015 2.31 2.49 2.03
JanMar2016 1.95 2.12 1.87
%YoY
15.7
15.1
7.9
Pakistan
China
2.00
0.00
2.50
1.00
M
US$/kg
2.00
India
Polyester/Viscoseyarn
Pakspot
30s
0.92
0.89
1.00
1.01
0.91
0.91
0.86
0.88
0.90
0.89
0.85
0.80
0.85
7.8
0.92
0.94
0.83
11.5
Pakspot
30/1
US$/kg
2.16
2.17
2.16
2.16
2.16
2.15
2.11
2.11
2.09
2.10
2.10
2.11
2.11
2.7
2.22
2.45
2.10
14.2
Indiaspot
30sP/V65/35
Chinaspot
32s,65/35
2.14
2.13
2.10
2.10
2.11
2.05
2.03
2.06
2.02
2.02
1.99
1.96
2.01
6.5
2.09
2.16
1.98
7.9
2.78
2.84
2.90
2.90
2.88
2.77
2.73
2.73
2.75
2.70
2.61
2.60
2.67
3.8
2.80
2.80
2.63
6.0



YnFx Monthly PriceWatch Report - April 2016

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YnFx Monthly PriceWatch Report - April 2016

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Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

Crude oil prices jumped in March after the world's

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

Ethylene prices in Asian markets rose significantly in

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

Mono ethylene glycol prices in March rose in Asian

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

up on rising raw material costs and stock markets. In

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

month on decent downstream demand and tight

Benzene prices in Asian markets pushed up on rising

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

semidull chips were offered at US$1,7131,823 a ton,

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

Acrylonitrile prices in Asian markets slipped on ample

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

for cottontype staple fiber were up by US cents 4 at

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

in accordance with market prevailing prices, and

Karachispot Chinaspot KharachFOB

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

ton. In Pakistan, cotton market extended the slide

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

destinations, thus export markets were supportive. In

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

US$2.32 a kg, up US cents 5. Viscose spun yarn

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

supported PV and PC yarn prices to rise in March.

Monthly PriceWatch - April 2016 FOR PRIVATE CIRCULATION ONLY

EMISPDF ateneo@edu from 202.125.103.33 on 2016-04-30 10:24:31 BST. DownloadPDF.

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