09 April 2012 06:07 [Source: ICIS news]
The source estimated that Chinese polyester producers inventory was running high at 30 days which was forcing them to sell at competitive prices.
China's 150 denier oriented yarn (POY) and drawn texturised yarn (DTY) were sold at $1.60-1.63/kg ($1,600-1,630/tonne) (€1,216-1,239/tonne) and $1.80-1.85/kg FOB China on 3 April, respectively, the lowest among other Asian regions according to ICIS.
This was below Indian offers for these yarns at $1.62-1.67/kg and $1.90-1.92/kg FOB
The company was also facing pressure in the local market as demand has been weak since April 2011.
"The economic slowdown in
Alok doubled its polycondensation capacity at Silvassa, to 1,400 tonnes/day in September-October 2011. It now has the capacity to produce 900 tonnes/day of POY, 150 tonnes/day of fully drawn yarn (FDY), 200 tonnes/day of polyester staple fibre (PSF) and 150 tonnes/day of polyester fibre chips.
With half of its polyester yarn being exported, Alok is one of the largest exporters of polyester yarn in
Alok Industries is one of the largest manufacturers of home textiles, apparel fabrics garments in
Additional reporting by Malini Hariharan
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections